Prime broker vs broker

The differences between prime brokers and brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a broker has an average salary of $124,861, 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 a broker are brokerage, financial services, and insurance products.

Prime broker vs broker overview

	Prime Broker	Broker
Yearly salary	$55,651	$124,861
Hourly rate	$26.76	$60.03
Growth rate	5%	5%
Number of jobs	1,808	2,770
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 89%	Bachelor's Degree, 66%
Average age	44	49
Years of experience	-	-

Prime broker vs broker salary

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

	Prime Broker	Broker
Average salary	$55,651	$124,861
Salary range	Between $37,000 And $81,000	Between $68,000 And $227,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Child Guidance & Family Solutions
Best paying industry	-	Insurance

Differences between prime broker and broker education

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

	Prime Broker	Broker
Most common degree	Bachelor's Degree, 89%	Bachelor's Degree, 66%
Most common major	Finance	Business
Most common college	Massachusetts Institute of Technology	University of Southern California

Prime broker vs broker demographics

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

	Prime Broker	Broker
Average age	44	49
Gender ratio	Male, 67.9% Female, 32.1%	Male, 63.8% Female, 36.2%
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, 13.2% Asian, 6.9% White, 70.1% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	13%

Differences between prime broker and 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.

Broker example responsibilities.

Manage, lease and sell office condominiums on site.
Retail trader, fix income securities; manage client account activity; properly allocate client funds to appropriate investment options
Manage indexes, options, foreign equities, and short-selling positions that are compatible with clients' long-term investment goals.
Expand and maintain professional relationships with trading accounts including banks, hedge funds and portfolio managers.
Specialize in finding undervalue and/or overbought commodities by using fundamental and technical analysis that exist throughout the markets.
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Prime broker vs broker skills

Common prime broker skills

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

Common broker skills

Brokerage, 17%
Financial Services, 9%
Insurance Products, 7%
Risk Management, 6%
Client Relationships, 6%
Real Estate Transactions, 5%