Equities Trader
Equities traders buy and sell shares for a firm's clients or its own trading book, looking to profit from movements in share prices.
- Median salary
- $137,900
3.8%vs last year, before tax
- People employed
- 1,400
0.0%vs last year
- Projected growth
- +12.5%
to 2035
- AI exposure*
- Moderate
- automation risk
- Average hours
- 46/wk
+6h vs all jobs
- Shortage status
- Not in shortage
national
Equities traders buy and sell shares for a bank, brokerage or fund manager, using company research and market data to decide when to open and close a position. The work sits close to stockbroking, but a trader is judged on the profit or loss the positions generate while a stockbroker is judged on carrying out client instructions well. Most work from a desk of several screens, and the day follows the market's hours.
How much do equities traders earn?
The median full-time salary for an equities trader is $137,900 per annum, before tax, up $28,600 since 2018.
Base pay is only part of the picture here, because a large share of total earnings comes as an annual bonus tied to how the book performed. That makes income uneven from year to year: a strong result can lift total pay well above the base, and a poor one can leave you on base alone. The employer matters too, with banks, proprietary trading firms and hedge funds running different base-and-bonus mixes.
What does an equities trader do day to day?
The list below is what fills most weeks; the exact mix shifts with seniority and whatever stage the current work is at.
- Watching the market open and close, tracking price moves across the shares on your book
- Reading broker research, company announcements and overnight overseas moves before placing a trade
- Executing buy and sell orders and adjusting positions as prices shift
- Managing exposure through position limits, stop losses and hedging, so a single bad trade does not do outsized damage
- Reconciling trades and checking settlement paperwork after the close
What skills do equities traders need?
Employers look for financial analysis and modelling, data analysis, risk and internal controls, backed by Bloomberg Terminal fluency and strong problem solving.
Specialist skills
- Financial analysis and modelling
- Data analysis
- Risk and internal controls
Software and tools
- Bloomberg Terminal
- Reuters Eikon
- trading platforms (Interactive Brokers, TD Ameritrade)
- Excel and Python
General skills
- Problem solving
- Written communication
- Time and deadline management
Is the job growing?
About 1,400 people work as equities traders in Australia, and employment is projected to grow 12.5% over the decade to 2035. That's healthy, above-average growth, and the role should stay in solid demand.
How do you become an equities trader?
Here's the path most equities traders take, step by step.
- 1Study a bachelor degree in finance, commerce, economics or a quantitative field
This is the usual entry point into graduate programs, and 52% of people working as equities traders hold one. Quantitative units in statistics, econometrics or programming are worth taking, because trading desks use them daily.
- 2Apply for a graduate or cadetship program at a bank, broker or fund manager
Structured intakes are the main way in, and applications usually open in your final year of study. Places are limited, so a second application round or a role on a middle-office or operations desk can be a realistic first step.
- 3Add a postgraduate qualification for research or quantitative desks
A master's in finance or a quantitative discipline helps if you want to work on strategy, derivatives or model-driven desks, and 21% of people in the role have postgraduate study behind them.
- 4Complete your firm's accreditation before trading live
New hires go through internal exams and market accreditation before placing real orders, and anyone dealing in financial products or advising clients also has to meet ASIC's training and competence standards. This stage is paid work, not study.
- 5Build a track record on a limited book
Junior traders start with tight position limits and a narrow set of shares, and those limits widen as results accumulate. How quickly that happens depends on the desk and the market conditions you inherit.
Ready to apply as an equities trader?
Whether you're working toward becoming an equities trader or already are one and want a hand with the next step (sharpening your resume for ATS screening, tightening your cover letter, or knowing what you'll actually be asked at interview), here are examples grounded in this specific role, not generic templates.
What jobs can an equities trader move to?
None of the roles equities traders typically move into pay more than the role itself. Futures Dealer is the closest match. If a bigger salary is the goal, moving up into a senior or principal position within the role is usually the faster route than moving sideways.
| Move to | Typical pay change | Overlap | Retraining |
|---|---|---|---|
| Futures Dealer Equities traders bring share market execution and order flow knowledge to futures dealing, with minimal retraining. | +$0 | 80% | minimal |
| Stockbroker Equities traders bring share trading and client order knowledge to stockbroking, with minimal retraining. | +$0 | 65% | minimal |
| Foreign Exchange Dealer Equities traders bring market execution and risk discipline to foreign exchange dealing, with a short course needed. | +$0 | 59% | short course |
| Investment Banker Equities traders bring market execution and risk management to investment banking, with some corporate finance study needed. | −$3,600 | 50% | short course |
| Commodity Trader Equities traders bring market analysis and risk management to commodity trading, with little retraining required. | −$3,900 | 75% | minimal |
Moves are chosen from Jobs and Skills Australia's Data on Occupation Mobility, which follows income tax records between 2011-12 and 2020-21, together with entry requirements and skill overlap. A known move is one people were seen making in that data. Pay change compares median full-time pay for the two roles.
Who works as an equities trader?
The typical equities trader is 38 years old; 81% are men, 83% work full-time, and full-timers average 46 hours a week.
- 38
- Median age
- 19%
- Female share
- 83%
- Full-time
- +6h
- vs all-jobs avg
What's it like being an equities trader?
The day is built around market hours, so traders are at their desk well before the open and often still watching overseas markets after the local close. The work alternates between long stretches of reading and monitoring and short bursts when news breaks and positions have to be adjusted quickly. It suits people who stay steady when a position moves against them and who are comfortable deciding with incomplete information.
What people like
- Your results are measured plainly. Profit and loss on your book is calculated daily, so there is little ambiguity about how you are going.
- Every day brings new information. Company results, central bank decisions and overnight sessions mean the work rarely repeats, and you can follow one sector or strategy closely enough to know it well.
- Ideas turn into action quickly. Trading teams are usually small, so there is little distance between forming a view and acting on it.
- The market gives the year a structure. Opening and closing auctions, results season and major data releases set a rhythm that experienced traders plan around.
What people find hard
- Losses can arrive without warning. An overnight announcement or a surprise rate move can turn a good position bad before the local open, and you have to act on it straight away.
- Screen-bound days. Most of the working day is spent reading screens, and stepping away while a position is open is difficult even for a short break.
- Little slack in the calendar. Leave is easier to take outside results season and major data releases, because that is when positions need the closest watching.
- Automation has taken over the mechanics. Much routine order flow now runs through algorithms, so traders spend more time on strategy and risk than on the simple act of buying and selling.
Based on our synthesis of professional-body surveys and public accounts of the role, not first-person verified reviews.
Which industries employ equities traders?
Financial and Insurance Services employs the largest share of equities traders.
Top employing industries
- 1Financial and Insurance Services
Ranked by employment share; the source doesn't publish an exact percentage per industry.
| Bachelor degree | 51.6% | |
|---|---|---|
| Postgraduate | 21.4% | |
| Year 12 or below | 13.5% | |
| Diploma / Advanced Diploma | 6% | |
| Certificate III/IV | 4.1% |
Will AI replace equities traders?
Routine execution is heavily automated already, and news scanning and strategy testing are following, which puts the role at moderate exposure overall. What keeps it from being higher is the part that remains human: deciding when a position is worth the risk, sizing it against the firm's limits and answering for the result. Algorithmic trading has changed how the job is done rather than removed the desk.
Share of typical working time by exposure level
- Managing risk limits and closing positionsJudging whether a fall is noise or the start of a real move, and cutting the position before limits force it, is a call the desk still makes minute by minute.35%low
- Executing orders and adjusting positionsSmart order routers and execution algorithms handle the mechanics, so the trader's work is choosing when and how much rather than keying the trade.25%moderate
- Scanning news and overnight markets before the openNews feeds and screening tools summarise announcements and overseas price moves far faster than anyone can read them, so the skill shifts to judging which items actually matter for the book.20%high
- Building and testing trading strategiesPython libraries and backtesting platforms put strategy testing within reach of any desk, though someone still has to decide whether a result would survive real market conditions.20%high
Common questions about becoming an equities trader
Straight answers to the questions people ask most.
How much do equities traders earn?
Full-time equities traders earn a median of $137,900 per year before tax. Total pay moves well above or below that figure depending on the annual bonus, which is tied to how the trading book performed.
How do you become an equities trader?
The usual route is a bachelor degree in finance, commerce or economics, followed by a graduate program at a bank, broker or fund manager. Firms then put new hires through accreditation and market exams before they can place live orders. A postgraduate qualification helps for research and quantitative desks.
Are equities traders in demand in Australia?
Employment is projected to grow 12.5% over the decade to 2035, and equities traders are currently not in shortage. Even so, about 1,400 people work in the role, so the number of openings in any year stays limited and graduate intakes are the main way in.
Will AI replace equities traders?
Algorithms already handle much routine order execution, so that part of the job is exposed. What holds up better is deciding which positions to take, sizing them against the firm's limits and reading when a move is noise rather than a trend. That is why the role's exposure sits at moderate rather than high.
What other jobs can an equities trader move into?
Futures dealing and stockbroking draw on the same execution and order flow skills, need little retraining, and pay is about the same. Commodity trading and foreign exchange dealing are similar moves, though each brings a different set of market drivers to learn. Moving into investment banking is possible with some corporate finance study, and accountants and personal bankers sometimes move into trading, but that usually means a degree and licensing first.
What are the hours like for an equities trader?
The day is built around market hours, which means an early start before the local open and often a late finish when overseas markets are active. Full-time hours average around 46 a week, with the busiest stretches falling around results season and major data releases.
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