50% payout

[facultus]

I ask this in curiousity:

I saw a help wanted ad for a stockbroker and the firm said it had a 50% commission payout. How exactly do commissions work if one was a stockbroker and a client placed a $10,000 order to buy stock and the firm you worked for had a 50% commission payout?

 

[shneed]

Whatever commission schedule the firm used to charge clients for the trades, you would receive 50% of that.

shneed

 

[CONTRARIAN]

Quote from facultus:

I ask this in curiousity:

I saw a help wanted ad for a stockbroker and the firm said it had a 50% commission payout. How exactly do commissions work if one was a stockbroker and a client placed a $10,000 order to buy stock and the firm you worked for had a 50% commission payout?

don't do it!
if you are an established broker and/or have the wherewithall to obtain high net worth clients you are better off going independant. if you go with a piker firm you will get robbed!

there are back office firms that specifically market to the "independant" broker with payouts as high as 100%.

try "on wallstreet" magazine.

good luck & best wishes.