Qualification

• Technically there are no qualifications required by law to work as a futures broker. However, most employers require that all trading agents obtain at least a bachelor's degree, typically in business, finance, economics or accounting. Many positions are also reserved for those with a master of business administration (MBA). Upon completion of formal education, many brokers in general decide to take the National Commodities Futures Examination (the Series 3 Exam) to remain competitive in the job market. Once hired by a firm, most futures brokers will also undergo intense not the job training directed at learning the specific practices and policies of the company.
  
  

Location

• As expected, the largest number and highest concentration of futures brokers are employed in New York, and positions pay a statewide average salary of $125,550 a year. However, Utah also has a high concentration of futures brokers, but an average wage of $77,240, possibly due to a much lower cost of living. The highest paying state in the U.S. is Connecticut, boasting an average salary of $161,110 a year. The national average salary for futures brokers in the U.S. is $91,390 annually.
  
  

Type of Employer

• The majority of futures brokers in the U.S. are employed by securities and commodity contracts brokerage firms, holding over 127,000 positions. These firms pay and average annual wage of $107,400. However, other employment options do exist. Over 60,000 are employed by depository credit intermediation services, but salaries only average $60,240 a year. Those working in office administrative services may earn the most with a national average salary of $113,420 a year.
  
  

Experience, Advancement and Higher Salaries

• Futures brokers just starting out in their careers will often only assist the brokers or work strictly on commissions and could bring in less than $30,000 a year. However, with time, experience and promotion, brokers could hold positions as money managers or commodity trading advisors and earn much more than an average wage. Futures brokers earning the 75th percentile wage can average $118,640 or more nation wide.