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The differences between registered representatives and trade specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a registered representative and a trade specialist. Additionally, a registered representative has an average salary of $54,074, which is higher than the $36,693 average annual salary of a trade specialist.
The top three skills for a registered representative include financial services, financial products and securities. The most important skills for a trade specialist are customer service, HVAC, and plumbing.
| Registered Representative | Trade Specialist | |
| Yearly salary | $54,074 | $36,693 |
| Hourly rate | $26.00 | $17.64 |
| Growth rate | 10% | 10% |
| Number of jobs | 17,622 | 25,669 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 61% |
| Average age | 43 | 43 |
| Years of experience | 6 | 6 |
A registered representative's job involves researching market conditions, liaising with potential clients, implementing advertising campaigns, cultivating personal contacts, and creating investment plans. Their duties and responsibilities include soliciting business from potential clients and selling financial products and services to clients for investment purposes.
Trade specialists are professionals who are responsible for handling the credit and financial activities of an organization while obtaining payments for its import or export operations. These specialists must advise the organization on matters of tariffs, markets, and federal and foreign regulations while keeping informed about the changes to laws and requirements that may impact operations. They must ensure that all filings, documents, and regulatory reporting are completed in a timely manner. Trade specialists must also negotiate and handle issues related to credit with international banks.
Registered representatives and trade specialists have different pay scales, as shown below.
| Registered Representative | Trade Specialist | |
| Average salary | $54,074 | $36,693 |
| Salary range | Between $33,000 And $88,000 | Between $27,000 And $49,000 |
| Highest paying City | New York, NY | Minneapolis, MN |
| Highest paying state | New York | Kansas |
| Best paying company | New York Life Insurance | Ford Motor |
| Best paying industry | Finance | Finance |
There are a few differences between a registered representative and a trade specialist in terms of educational background:
| Registered Representative | Trade Specialist | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between registered representatives' and trade specialists' demographics:
| Registered Representative | Trade Specialist | |
| Average age | 43 | 43 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 67.4% Female, 32.6% |
| Race ratio | Black or African American, 5.8% Unknown, 4.2% Hispanic or Latino, 12.3% Asian, 10.3% White, 67.2% American Indian and Alaska Native, 0.2% | Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.5% Asian, 11.4% White, 67.3% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |