Prime broker vs associate broker

The differences between prime brokers and associate brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an associate broker has an average salary of $64,361, which is higher than the $55,651 average annual salary of a prime broker.

The top three skills for a prime broker include hedge funds, securities and foreign exchange. The most important skills for an associate broker are excellent client, real estate sales, and financial resources.

Prime broker vs associate broker overview

	Prime Broker	Associate Broker
Yearly salary	$55,651	$64,361
Hourly rate	$26.76	$30.94
Growth rate	5%	5%
Number of jobs	1,808	8,836
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 89%	Bachelor's Degree, 65%
Average age	44	49
Years of experience	-	-

Prime broker vs associate broker salary

Prime brokers and associate brokers have different pay scales, as shown below.

	Prime Broker	Associate Broker
Average salary	$55,651	$64,361
Salary range	Between $37,000 And $81,000	Between $38,000 And $106,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Cushman & Wakefield
Best paying industry	-	Finance

Differences between prime broker and associate broker education

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

	Prime Broker	Associate Broker
Most common degree	Bachelor's Degree, 89%	Bachelor's Degree, 65%
Most common major	Finance	Business
Most common college	Massachusetts Institute of Technology	University of Southern California

Prime broker vs associate broker demographics

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

	Prime Broker	Associate Broker
Average age	44	49
Gender ratio	Male, 67.9% Female, 32.1%	Male, 52.5% Female, 47.5%
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, 5.3% Unknown, 4.3% Hispanic or Latino, 13.3% Asian, 6.9% White, 69.8% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	13%

Differences between prime broker and associate broker duties and responsibilities

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.

Associate broker example responsibilities.

Manage all accounting, cash management, budgeting and financing for individual LLC's and for corporate entity.
Work with clients, prepare & file all the paperwork, input listings to MLS, market and advertise list property.
Develop message flows which done XML/XSLT transformations, from one format to another, SOAP/HTTP XML to MRM mappings and transformations.
Assist Medicare-eligible individuals with Medicare supplement and replacement plans adhering to CMS guidelines.
Develop Indianapolis territory for contacts with senior citizens during the enrollment period for Medicare.
Create and maintain accurate MLS listings as well as developed and distribute unique advertising materials.

Prime broker vs associate broker skills

Common prime broker skills

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

Common associate broker skills

Excellent Client, 12%
Real Estate Sales, 11%
Financial Resources, 7%
Market Research, 5%
Business Development, 5%
Renewal Business, 4%