What does a Back Office/Trade Checker position entail exactly? What is the average pay? Is this done on the floor ?
BO is not on the floor. The job description depends on the institution. But usually there are things like making sure cash payments are done, trades are settled with the custodian and a lot of problem solving when one of those things does not work. Average pay is average. Depends on the place. But this is not a highly paid spot. You wont really learn a lot about trading there. But you will get to be close to traders. If your objective is to climb up the ladder good luck. Some banks even prohibit it. The BO is really the bottom floor in a bank and you dont really intentionally want to get there IMO, unless you have no other options. Some guys at the middle office can climb, but they usually have a master degree or an MBA or CFA.
In the sense that they will call and yell at you when something inevitably goes wrong (because you are a backoffice monkey who can't tell the difference between price and yield)