In terms of social status, the position of mercenaries belonged to the middle tier, comparable to that of master craftsmen who possessed irreplaceable skills.
They were just below the upper nobility, and above the magical magicians, non-titled knight officers, and indispensable artists of high society. They ranked higher than the lower-mid servants, craftsmen, workers, merchants, rats, and the lowest tier of serfs, roles often filled by down-and-out knights.
There were no mercenary corps in the Duchy of Sapphire, and consequently, no mercenaries.
However, in the nations of the continent, mercenary corps were a widespread and common phenomenon, often established under the pretense of guarding trade, hunting magical beasts, or capturing elves. But in secret, mercenary corps were direct participants in the slave trade, often playing the roles of robbers and bandits.
Liszt didn't know how mercenary corps originated and developed to the extent they had today.