Arbitrators Job Description, Duties & Salary

Earnings

Arbitrators, mediators, and conciliators earned median annual salaries of $71,540 in May 2023, according to the U.S. Department of Labor (USDL). Ten percent of this group earned $35,960 or less, while the top 10 percent made $152,730 or more. The USDL reports that arbitrators, mediators, and conciliators earned the following mean annual salaries by employer:

local government agencies (excluding schools and hospitals): $98,150
state government agencies (excluding schools and hospitals): $79,620
social advocacy organizations: $58,720
individual and family services: $51,710

Some arbitrators are paid per arbitration session they attend. For example, FINRA (Financial Industry Regulatory Authority), a government-authorized nonprofit organization that oversees U.S. broker-dealers, paid an honorarium of $600 per day to its arbitrators in 2024. Panel chairpersons received $850 per day (as well as $125 for each prehearing conference).

Benefits for full-time workers include vacation and sick time, health, and sometimes dental, insurance, and pension or 401(k) plans. Self-employed arbitrators must provide their own fringe benefits.

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