Commodities broker salary: What is A Commodity Broker?

What is A Commodity Broker?

There is more than meets the eye when it comes to being a commodity broker. For example, did you know that they make an average of $30.44 an hour? That’s $63,317 a year! Between 2018 and 2028, the career is expected to grow 4% and produce 18,500 job opportunities across the U.S.

What Does a Commodity Broker Do

There are certain skills that many commodity brokers 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.

Learn more about what a Commodity Broker does

How To Become a Commodity Broker

If you’re interested in becoming a commodity broker, one of the first things to consider is how much education you need. We’ve determined that 76.5% of commodity brokers have a bachelor’s degree. In terms of higher education levels, we found that 8. 9% of commodity brokers have master’s degrees. Even though most commodity brokers have a college degree, it’s possible to become one with only a high school degree or GED.

Top Commodity Broker Jobs Near You

Commodity Broker Career Paths

In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what’s a career path you ask? Well, it’s practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of broker you might progress to a role such as account executive eventually. Later on in your career, you could end up with the title national sales manager.

Commodity Broker

BrokerAccount ExecutiveRegional Sales Manager

National Sales Manager

9 Years

BrokerAccount Executive

Senior Sales Executive

8 Years

BrokerAccount ExecutiveDistrict Sales Manager

Regional Sales Director

11 Years

Finance AdvisorConsultantAccount Manager

Strategic Accounts Manager

9 Years

Finance AdvisorConsultantRegional Sales Manager

National Sales Director

11 Years

Finance AdvisorConsultantOwner

Owner And Sales

7 Years

Show More

Top Careers Before Commodity Broker

Broker(2,770 Jobs)

11. 8 %

Clerk(80,311 Jobs)

Account Executive(205,561 Jobs)

Top Careers After Commodity Broker

Sales Manager(119,066 Jobs)

Sales Associate(579,849 Jobs)

Account Executive(205,561 Jobs)

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Commodity Brokers in America make an average salary of $63,317 per year or $30 per hour. The top 10 percent makes over $102,000 per year, while the bottom 10 percent under $39,000 per year.

Average Commodity Broker Salary

$63,317 Yearly

$30. 44 hourly

$39,000

10 %

$63,000

Median

$102,000

90 %

See More Salary Information

What Am I Worth?

Commodity Broker Education

Commodity Broker Majors

Business

26.4 %

Finance

15.7 %

Economics

11.7 %

Commodity Broker Degrees

Bachelors

76.5 %

Associate

Masters

Top Colleges for Commodity Brokers

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition

$55,584

Enrollment

10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition

$54,568

Enrollment

8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition

$56,225

Enrollment

19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition

$9,808

Enrollment

13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition

$53,308

Enrollment

6,819

6.

San Diego State University

San Diego, CA • Private

In-State Tuition

$7,488

Enrollment

30,018

7. Stanford University

Stanford, CA • Private

In-State Tuition

$51,354

Enrollment

7,083

8. Boston University

Boston, MA • Private

In-State Tuition

$53,948

Enrollment

17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition

$9,625

Enrollment

17,407

10. New York University

New York, NY • Private

In-State Tuition

$51,828

Enrollment

26,339

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we’ve found all of the skills you’ll need so even if you don’t have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 11.8% of commodity brokers listed new clients on their resume, but soft skills such as analytical skills and customer-service skills are important as well.

• New Clients, 11.8%
• Market Research, 11.6%
• New Customers, 6.6%
• Commodity, 4.4%
• Market Conditions, 4.0%
• Other Skills, 61.6%

Commodity Broker Demographics

Commodity Broker Gender Distribution

Female

After extensive research and analysis, Zippia’s data science team found that:

• Among commodity brokers, 17.4% of them are women, while 82.6% are men.

• The most common race/ethnicity among commodity brokers is White, which makes up 73.5% of all commodity brokers.

• The most common foreign language among commodity brokers is Spanish at 42.9%.

Online Courses For Commodity Broker That You May Like

Advertising Disclosure  The courses listed below are affiliate links. This means if you click on the link and purchase the course, we may receive a commission.

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Customer Service, Customer Support, And Customer Experience

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Marketing Customer Analytics, Segmentation, and Targeting

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Top Commodity Broker Employers

• Zippia Careers
• Sales Industry
• Commodity Broker

Updated September 9, 2022

Commodities Broker Salary in the United State

States with Higher Salaries for Commodities Broker

The five states where Commodities Broker jobs get higher salaries in the United States are: Alaska, California, District of Columbia, New Jersey, and Massachusetts. Compared with the average salary of a Commodities Broker in the United States, the state of Alaska with the highest job income for this job. The second and third states are California and District of Columbia respectively. The high or low salary paid to Commodities Broker by the US has a greater relationship with the demand for jobs and the cost of living.

Top 5 States with Higher Salaries For
Commodities Broker in the United States:

Commodities Broker in Alaska: $63,653

Commodities Broker in California: $63,426

Commodities Broker in District of Columbia: $63,159

Commodities Broker in New Jersey: $62,779

Commodities Broker in Massachusetts: $61,779

There are some different titles for Commodities Broker jobs, and the job title of Commodities Broker will vary in different companies. The job title has a lot to do with the department and responsibilities, and the same job title will vary in different departments. The following list is the salary of jobs similar to Commodities Broker, start to view Commodities Broker-related jobs you are interested in.

Commodities Manager

Average salary

the United States

$110,500

per Year

View salaries

Job openings

Commodities Trader

Average salary

the United States

$82,481

per Year

View salaries

Job openings

Commodities Analyst

Average salary

the United States

$99,754

per Year

View salaries

Job openings

Commodities Purchasing Manager

Average salary

the United States

$110,440

per Year

View salaries

Job openings

Broker

Average salary

the United States

$64,403

per Year

View salaries

Job openings

Commodities Purchasing Specialist III

Average salary

the United States

$95,400

per Year

View salaries

Job openings

Get an estimated calculation of how much you should be earning and insight into your career options.

Frequently Asked Questions

Common questions about salaries for a Commodities Broker

Get a personal salary report to know your salary based on location, education, experience, and other influence factors.

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A commodity broker buys or sells physical commodities, such as agricultural products, minerals, natural gas or oil, or precious metals, on behalf of an investor.

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Check the below career pages for detailed pay ranges for similar professions to Commodities Broker:

• 
  Commodities Manager

• 
  Commodities Trader

• 
  Commodities Analyst

• 
  Commodities Purchasing Manager

• 
  Broker

• 
  Commodities Purchasing Specialist III

• 
  Commodities Purchasing Specialist IV

• 
  Commodities Purchasing Specialist II

• 
  Insurance Broker

• 
  Floor Broker

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Explore our personal salary report to know the Commodities Broker market value in the United States. And find out if any places are having a higher Commodities Broker salary.

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Career Insights

Who is a broker – the main functions, how to become and choose the right one?

People who have little understanding of business processes and financial flows do not always know who a broker is, what such a specialist does and what level of income he has. However, this is a sought-after specialty both on the world market and on a smaller scale.

Broker – who is it?

In the sphere of trade, insurance and property relations such a concept as a broker constantly appears. From English, the term broker is translated as “intermediary”. Hence, a broker in simple words is an individual or legal entity acting as an intermediary between the seller and the buyer. For his work, the specialist receives a reward. Brokers can be both single licensed specialists and entire firms. They can perform the following functions:

1. Intermediary services in concluding a contract between a buyer and a seller, whether it be an individual or a major global brand.
2. Support in the preparation and signing of documents.
3. Customer reporting.
4. Advising clients with the issuance of recommendations on the nuances of transactions.
5. In discussions about who a broker is, many experts are inclined to believe that a specialist who has reached certain heights in his field can well provide training in brokerage.

How do brokers make money?

All seemingly simple work as a broker is based on a huge amount of knowledge and observations. Such a person should be aware of the news and trends of the area in which he works. Conduct analysis and perform certain operations based on its data. That is, all the earnings of such a specialist are based on the fact that he conducts transactions in the most successful way for his customer, who is a buyer or sellers. He receives remuneration for his work:

1. A fixed amount specified in the contract or other documents.
2. Percentage of the total amount of the concluded transaction or the profit received by the customer.

How much does a broker earn?

Having figured out who a broker is and how he earns, many are interested in the level of income of such a specialist. In business circles, intermediaries charge about 0.1% of the transaction amount for their operations. That is, the more transactions a professional makes, the higher his fee will be. For many of them, this amount does not depend on the result of the transaction, that is, whether the client gains or loses in money, the intermediary will still receive his commission. It becomes clear that the income of a true professional can be unlimited. However, according to statistics, broker salary:

1. The average for the CIS countries is about $1200 per month, which is significantly higher than for many other professions.
2. In some regions, a successful broker receives about $1875 per month, but not a fixed income, but as a result of his hard work.

Types of brokers

In many countries of the world, a business broker is required to have a license confirming his right to engage in a particular line of business. The most popular industries in which intermediaries operate are:

1. Commodity and stock exchanges. They employ a financial broker, actively using various financial instruments. This is the most common area of ​​activity for most specialists.
2. Insurance.
3. Customs.
4. Credit, more often mortgage industry.
5. Cargo delivery, then the professional is called a freight broker.
6. Real estate transactions.

Exchange broker

In the CIS countries, one of the most common and sought-after professions is a stock broker. He is an intermediary between buyers and directly exchange assets, he can make transactions on his own behalf, or on behalf of the client. In any case, individuals should resort to their services, because they are prohibited by law from independently making transactions with assets on the exchange.

One of the most popular, but far from the only company providing such services is Forex, whose brokers are licensed to deal with:

• securities;
• foreign currencies;
• precious metals;
• manage the client’s finances.

Loan Broker

In the West, if you need to take a large amount on credit, it has long been customary to pay for the help of a loan broker. However, in our country, this industry is just emerging. Such a specialist does not need to confirm his license, his activities are regulated by the Civil Code. The specialist helps to choose the best option for a credit institution, prepare the right package of documents and receive money on the most suitable conditions. As a rule, a loan officer takes a remuneration in a fixed amount for his activities.

Insurance broker

Another profession that is gaining popularity is the Internet insurance broker. This is a specialist who acts as an intermediary between the insurance company and its client. It works on the basis of a license and concluded agreements. For his work, a professional takes a fixed fee or a percentage of the transaction, guaranteeing:

1. Financial savings, because often the intermediary has the opportunity to issue an insurance policy at a discount.
2. Reducing the time spent on finding the right company and concluding an agreement.
3. Search for optimal insurance conditions.

When applying, you should understand who an insurance broker is and evaluate the need for his services. After all, a specialist provides support only at the stage of searching for an insurance company and concluding an agreement. Further, in the event of an insured event, when it is necessary to prepare a package of documents or receive a refund, you should not wait for support from the broker, since this is outside his area of ​​​​competence.

Real estate broker

From the name of the industry it becomes clear who a mortgage broker is and what he does. This is a specialist who acts as an intermediary in the purchase of real estate between:

• owner;
• potential buyer;
• banking organization that will issue a mortgage.

The benefit of using a mortgage intermediary is to save time and effort, even with the more significant financial costs of paying his fee. But reliable brokers will legally competently accompany the transaction at all its stages:

1. Registration of agreements between the parties.
2. Preparation of the necessary package of documents.
3. Choosing a mortgage organization with the most convenient conditions for the client.
4. Sending a package of documents to the selected bank.

Functions of brokers

Depending on the field of activity, the functional responsibilities of different brokers are somewhat different, but the essence remains the same:

1. The main task of a specialist is to complete transactions for the purchase and sale of securities, real estate or an insurance policy on behalf of his client. This can be done both in person at the organization and via the Internet. Some brokers accept trade orders by phone.
2. To carry out some operations, it is necessary to prepare the necessary package of documents and apply to intermediate organizations, that is, full support of the transaction, which lies on the shoulders of the broker. The specialist must understand all the legal intricacies of the issue.
3. The best brokers provide analytical and consulting services for building long-term relationships with the client, selecting forms of cooperation at the moment and in the future.
4. Some professionals who have achieved certain heights also conduct educational activities, creating their own seminars and trainings.

How to become a broker?

Broker is a relatively new profession in our country. However, the algorithm for obtaining it in the exchange sphere has already fully developed:

1. First you need to make a decision to start brokerage in the field of finance. Often graduates of economic faculties or managers in the field of finance take this path.
2. Register as a legal entity or individual entrepreneur.
3. Register with the tax office.
4. Open a special account and deposit at least $78200.
5. Complete specialized courses.
6. Pass the state exam, draw up documents for compliance with legal requirements and admission to financial markets to obtain a license.
7. Pay the fee and get a license.
8. Start work or recruit a team of qualified personnel.

How to choose a broker?

Ordinary inhabitants in questions about which broker to choose for a particular transaction, do not always know the criteria that should be followed. Experts recommend adhering to the following algorithm when choosing:

1. View bidder ratings by country or region.
2. Check that the selected broker has the necessary licenses, qualifications and education.
3. Find out the scope of the broker’s work and clarify possible restrictions.
4. Check if the terminal broker has the required platform.
5. Select a tariff plan with a mandatory study of all mandatory payments and commissions.
6. Conclude a contract for brokerage services.

Minimum and average salary in Russia 2022

Indicator	Meaning	Period
Minimum wage	15279 RUB/month | 249.231 USD/month	2022
Salary	59907 RUB/month | 977.202 USD/month	Aug. 2022
Wage growth	-1.2%	Aug. 2022
Salary of highly skilled workers	48300 RUB/month | 687.276 USD/month	2018
Wages in the manufacturing industry	62200 RUB/month | 1014.606 USD/month	Jul. 2022
Wages of low-skilled workers	19900 RUB/month | 283.164 USD/month	2018

• Minimum
• Medium Salary
• Salary increase
• High quality
• Processing. prom.
• Low-skilled

Latest data on the Minimum Wage in Russia (RUB/month)

• Chart
• History

What is the minimum wage in Russia?

• Minimum Wage in Russia increased to 15279 RUB/Month (249.231 USD/Month) in 2022. The maximum minimum wage was 12792 RUB/month, and the minimum is 132 RUB/month
• Data published Yearly by the Federal State Statistics Service.

History of Minimum Wage by presidents (RUB/month)

Minimum Wage in Russia by presidents

Name	Period	Initial	Con.	Max.	Min.	Change % start/end
Vladimir Putin (2)	05/07/2002 –	7500.0000	7500.0000	7500.0000	7500.0000	0.00%

Latest Wage Data in Russia (RUB/month)

• Chart
• History

What is the average salary in Russia?

• The average wage in Russia fell to 59907 RUB/Month (977.202 USD/Month) in August 2022. The maximum average salary was 69278 RUB/Month and the minimum was 0 RUB/Month
• Data published Monthly by Ministry of Economic Development.

59907	Aug. 2022	11/05/2022
62200	Jul. 2022	09/28/2022
66572	Jun. 2022	09/03/2022
62457	May 2022	07/30/2022
62269	Apr. 2022	06/29/2022
66757	Mar. 2022	06/04/2022
57344	Feb. 2022	30.04.2022
55717	Jan. 2022	04/02/2022

Salary History by presidents (RUB/month)

Salary in Russia by presidents

Name	Period	Initial	Con.	Max.	Min.	Change % start/end
Vladimir Putin (2)	05/07/2002 –	41640.0000	43550.0000	50500.0000	37520.0000	4.59%

Latest Wage Growth in Russia (%)

• Chart
• History

What is the increase in wages in Russia?

• Wage Growth in Russia decreased by 1.2 % in August 2022 over the same month in the previous year. The maximum growth rate was 27.2% and the minimum -41.4%
• Data published Monthly by the Federal State Statistics Service.

-1.2	Aug. 2022	02. 11.2022
-3.2	Jul. 2022	09/28/2022
-3.2	Jun. 2022	08/31/2022
-6.1	May 2022	07/27/2022
-7.2	Apr. 2022	06/29/2022
3.6	Mar. 2022	06/01/2022
2.6	Feb. 2022	04/27/2022
1.9	Jan. 2022	03/30/2022

History of Wage Growth y/y by presidents (%)

Wage Growth in Russia by presidents

Latest data on Wages of highly skilled workers in Russia (RUB/month)

• Chart
• History

What is the salary of highly skilled workers in Russia?

• The average salary of highly skilled workers in Russia increased to 48300 RUB/month. (687.276 USD/month). The maximum amount was 48300 RUB/month and the minimum was 33300 RUB/month.
• Data published Yearly by the Wageindicator Foundation.

Name

Latest data on Wages in the manufacturing industry in Russia (RUB/month)

• Chart
• History

What is the salary in the manufacturing industry in Russia?

• The average salary in the manufacturing industry in Russia fell to 62200 RUB/month. (1014.606 USD/month). The maximum amount was 56019 RUB/month and the minimum was 7397 RUB/month.
• Data published Monthly by the Federal State Statistics Service.

62200	Jul. 2022	10/06/2022
57851	Apr. 2022	06/29/2022
53095	Feb. 2022	05/13/2022
53223	Jan. 2022	04/13/2022
52127	but I. 2021	02/25/2022
51644	oct. 2021	01/18/2022
51466	Mar. 2021	06/03/2021
46376	Jan. 2021	04/13/2021

History of Wages in Manufacturing by presidents (RUB/month)

Wages in Manufacturing in Russia by presidents

Latest data on Wages for low-skilled workers in Russia (RUB/month)

• Chart
• History

How much do low-skilled workers earn in Russia?

• The average salary of low-skilled workers in Russia increased to 19900 RUB/month (283.164 USD/month). The maximum amount was 19900 RUB/month and the minimum was 11800 RUB/month.
• Data published Yearly by the Wageindicator Foundation.