Scheduler / Operator Compensation Structure?
I know that schedulers and operators make decisions that affect a physical trader's P/L, but they don't get a percentage of the book like traders do. Does anyone know how the base and bonus structure is for trader operators and/or schedulers in physical trading, and how that might scale up as you go farther along in your career as an operator?
A good scheduler is worth their weight in gold, and all physical traders know that. Also it is extremely rare that a person becomes a physical trader without first serving time as a scheduler.
Agreed, The ability to have more flexibility due to a good scheduler can be worth millions in p&l.
Check Glassdoor, it has been fairly accurate in my experience.
I'd say 50 - 70K starting, and possibly 100 - 150K base for a top, top scheduler. That would be a person with 5+ years experience at a big place. Can get a bonus on top of that, but it is not quite as high on the top end as trading roles.
Add a 15-25% bonus on base compensation. This base is based on the desk’s performance.
Thanks for all the insight - I know a couple people end up being career operators - does the base and bonus ever end up hitting a ceiling for these people at a certain point?
Yes and no, I know schedulers who are low 30s and don't expect to get a raise ever again, other than inflation adjustments. However, I've seen schedulers in their 50s move to a top team and get pay raises that way.
Scheduling is a great job. You get invited to most of the events and once you know what you're doing, it's relatively straight forward. It's quite a relationship-based role. Many friends tried to become traders but didn't like the stress and hours, so scheduling was a great fit.
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