Bankers and Traders: How much are they paid?
Probably you are thinking of going into the financial institution and you are wondering if, as people say, there are a lot of big bucks to be made from it. Weighing your options, you cross out the list you made and you are left with just two options. Banking and Trading.
Note: Trading in this article refers to financial trading and its categories.
So you are thinking; which of these two is worth your time, talents and skills? This piece will explain what trading and banking is, what traders and bankers do, and the different salary and bonus packages traders and bankers enjoy.
Salary and Bonuses: Traders and Bankers
A salary is a preset sum of money, paid from an employer to an employee, on a habitual/scheduled basis, often monthly, but it is normally expressed as a yearly figure. Salaries are fixed, no matter the performance of the employee and the sum of which should not fluctuate.
Bonuses are compensations that are given to an employee, according to his performance, based on his achieving a set goal, and sometimes based on the company’s earnings (mostly for higher executives). Bonuses are sometimes some percentages of the employee’s salary, but most times, the amount has been determined by a contract. An employee is eligible for a bonus when he outperforms his colleagues and brings great achievements to his firm.