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Market maker vs specialist

The differences between market makers and specialists can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a market maker, becoming a specialist takes usually requires 1-2 years. Additionally, a market maker has an average salary of $108,335, which is higher than the $58,013 average annual salary of a specialist.

The top three skills for a market maker include equity options, portfolio risk and NASD. The most important skills for a specialist are patients, customer service, and work ethic.

Market maker vs specialist overview

Market MakerSpecialist
Yearly salary$108,335$58,013
Hourly rate$52.08$27.89
Growth rate10%10%
Number of jobs17,618358,433
Job satisfaction--
Most common degreeBachelor's Degree, 87%Bachelor's Degree, 49%
Average age4342
Years of experience62

Market maker vs specialist salary

Market makers and specialists have different pay scales, as shown below.

Market MakerSpecialist
Average salary$108,335$58,013
Salary rangeBetween $62,000 And $188,000Between $32,000 And $104,000
Highest paying City-Jersey City, NJ
Highest paying state-New Jersey
Best paying company-The Citadel
Best paying industry--

Differences between market maker and specialist education

There are a few differences between a market maker and a specialist in terms of educational background:

Market MakerSpecialist
Most common degreeBachelor's Degree, 87%Bachelor's Degree, 49%
Most common majorFinanceBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Market maker vs specialist demographics

Here are the differences between market makers' and specialists' demographics:

Market MakerSpecialist
Average age4342
Gender ratioMale, 92.1% Female, 7.9%Male, 47.5% Female, 52.5%
Race ratioBlack or African American, 5.7% Unknown, 4.1% Hispanic or Latino, 12.1% Asian, 9.9% White, 67.9% American Indian and Alaska Native, 0.2%Black or African American, 11.4% Unknown, 5.4% Hispanic or Latino, 16.4% Asian, 10.5% White, 55.9% American Indian and Alaska Native, 0.4%
LGBT Percentage6%11%

Differences between market maker and specialist duties and responsibilities

Market maker example responsibilities.

  • Manage and critiqu all trades execute on NYMEX trading floor via computer system.
  • Trade several equities and options names, managing all risk, capital and executing trades using electronic screen base software/technology.
  • Dissect and manage complex derivative position risks, manage risks and interpret complex financial documents.
  • Price and risk manage multiple positions in corporate derivatives, including accelerate share buyback programs and long-date convertible bond/call spread overlays.
  • Merge business operations to expand service offering to include etf's, options, and foreign adr's.
  • Analyze market conditions and make decisions to buy/sell equities using fundamental and technical analysis.
  • Show more

Specialist example responsibilities.

  • Create, manage, and assist users with SharePoint sites.
  • Manage an on-site IRB and company good clinical practice (GCP) inspection.
  • Manage SharePoint sites by creating, editing, and customizing company sites, libraries and security.
  • Manage the building of accounts, assigning of static IP's, and scheduling of business class installations.
  • Convert servers from UNIX to Linux, all hardware diagnostics and repair including printers/plotters/desktops etc.
  • Follow safety procedures such as maintenance of all equipment (Telxon scanners, terminals and ladders).
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Market maker vs specialist skills

Common market maker skills
  • Equity Options, 11%
  • Portfolio Risk, 9%
  • NASD, 7%
  • Financial Markets, 6%
  • Manage Risk, 6%
  • Equities, 5%
Common specialist skills
  • Patients, 15%
  • Customer Service, 11%
  • Work Ethic, 5%
  • Patient Care, 4%
  • Exceptional Client, 4%
  • Troubleshoot, 4%