Markets are important for economic growth and industrial development in a country. However, markets cannot operate without the active participation of traders. Traders encourage a market that is efficient and robust. Just like investors, traders offer a valuable service to markets, while earning money and making profits.
Traders analyze price fluctuations, buy and sell financial equipment for their clients, and monitor stock movements. They may work as financial advisors to people who can't handle their account investments and need financial management support. Traders concentrate on both long and short-term trades, depending on the client's interests and specific requirements.
A successful trader is a highly analytical professional who knows about the financial industry and how to deal with constant market changes. Once becoming a trader, you can demand a salary of $53.26 per hour, on average. Are you intrigued by such an awesome salary? Get at least a bachelor's degree in finance or business and you can earn it as a trader.
There is more than meets the eye when it comes to being a trader. For example, did you know that they make an average of $63.05 an hour? That's $131,136 a year!
Between 2018 and 2028, the career is expected to grow 4% and produce 18,500 job opportunities across the U.S.
There are certain skills that many traders have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, customer-service skills and detail oriented.
When it comes to the most important skills required to be a trader, we found that a lot of resumes listed 15.1% of traders included portfolio, while 7.5% of resumes included financial markets, and 4.2% of resumes included market research. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the trader job title. But what industry to start with? Most traders actually find jobs in the finance and manufacturing industries.
If you're interested in becoming a trader, one of the first things to consider is how much education you need. We've determined that 59.6% of traders have a bachelor's degree. In terms of higher education levels, we found that 26.7% of traders have master's degrees. Even though most traders have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a trader. When we researched the most common majors for a trader, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on trader resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a trader. In fact, many trader jobs require experience in a role such as internship. Meanwhile, many traders also have previous career experience in roles such as equity trader or vice president.