Customs broker vs prime broker

The differences between customs brokers and prime brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a customs broker has an average salary of $58,184, which is higher than the $55,651 average annual salary of a prime broker.

The top three skills for a customs broker include data entry, customer service and customs regulations. The most important skills for a prime broker are hedge funds, securities, and foreign exchange.

Customs broker vs prime broker overview

	Customs Broker	Prime Broker
Yearly salary	$58,184	$55,651
Hourly rate	$27.97	$26.76
Growth rate	5%	5%
Number of jobs	2,824	1,808
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 89%
Average age	44	44
Years of experience	-	-

Customs broker vs prime broker salary

Customs brokers and prime brokers have different pay scales, as shown below.

	Customs Broker	Prime Broker
Average salary	$58,184	$55,651
Salary range	Between $37,000 And $89,000	Between $37,000 And $81,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between customs broker and prime broker education

There are a few differences between a customs broker and a prime broker in terms of educational background:

	Customs Broker	Prime Broker
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 89%
Most common major	Business	Finance
Most common college	University of Pennsylvania	Massachusetts Institute of Technology

Customs broker vs prime broker demographics

Here are the differences between customs brokers' and prime brokers' demographics:

	Customs Broker	Prime Broker
Average age	44	44
Gender ratio	Male, 51.0% Female, 49.0%	Male, 67.9% Female, 32.1%
Race ratio	Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%	Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%
LGBT Percentage	11%	11%

Differences between customs broker and prime broker duties and responsibilities

Customs broker example responsibilities.

Call new and return customer leads for Medicare solutions.
Manage all office relate matters to include accounting, international traffic and logistics.
Work with procedures for FDA and understands all government regulations.
Handle all issues pertaining to FDA & USDA and all other CFR regulations for all customers.
Consult clients on the various types of documentations that are need for inspection and clear through CBP and OGA.
Handle entries with ADA/CVD and NAFTA.

Prime broker example responsibilities.

Execute give-up transactions and manage bank risk through hedging tools - including swaps, futures, and options.
Manage all office relate matters to include accounting, international traffic and logistics.
Monitor settlement of fix income and equity income securities resulting from corporate activity.
Experience with all DTC applications, i.e.
Reduce margin buy-in on trades for greater capital efficiency.
Monitor receipt of variation margin by working with the back office.

Customs broker vs prime broker skills

Common customs broker skills

Data Entry, 17%
Customer Service, 15%
Customs Regulations, 9%
US Customs, 6%
FDA, 5%
HTS, 4%

Common prime broker skills

Hedge Funds, 16%
Securities, 14%
Foreign Exchange, 14%
Margin, 12%
DTC, 10%
Fixed Income, 9%