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Become A Stock Broker

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Working As A Stock Broker

  • Communicating with Persons Outside Organization
  • Establishing and Maintaining Interpersonal Relationships
  • Making Decisions and Solving Problems
  • Evaluating Information to Determine Compliance with Standards
  • Analyzing Data or Information
  • Mostly Sitting

  • $71,550

    Average Salary

Example Of What A Stock Broker does

  • Performed numerous cold calls per day (400).
  • Obtained risk tolerance and account objectives.
  • Reviewed and analyzed market trends, stock performance and company earnings.
  • Prepared and presented presentations on new and existing financial products to team members.
  • Advised a broad client base.
  • Assisted investment bankers in maintaining client portfolios.
  • Managed client accounts and portfolios, tracked the investment performance.
  • Developed and maintain new accounts.
  • Educated clients on investments and financial markets.
  • Stayed up-to-date with market conditions to advise clients of potential market opportunities.
  • Opened retail brokerage accounts for high net worth individuals.
  • Assisted clients in developing plans to achieve their financial goals.
  • Educated customers on basic to complex investment strategies.
  • Assist clients with advanced account inquiries and stock quotes.
  • Light filing, high volume phone calls with noteworthy customer service.
  • Initiated marketing activities involving prospecting, sales, analysis of financial needs, and follow-up services.
  • Participated in cold calling and made international calls to potential clients.
  • Produced new clients for How to Invest seminars.
  • Scored 96% on NASD series 7 exam.
  • Worked closely with Senior Broker to improve their portfolio management, lead generation, and client acquisition.

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How To Become A Stock Broker

A bachelor’s degree is required for entry-level jobs, and a master’s degree in business administration (MBA) is useful for advancement.

Education

Securities, commodities, and financial services sales agents generally must have a bachelor’s degree to get an entry-level job. Studies in business, finance, accounting, or economics are important, especially for larger firms. Many firms hire summer interns before their last year of college, and those who are most successful are offered full-time jobs after they graduate.

Numerous agents eventually get a master’s degree in business administration (MBA), which is often a requirement for high-level positions in the securities industry. Because the MBA exposes students to real-world business practices, it can be a major asset for jobseekers. Employers often reward MBA holders with higher level positions, better compensation, and large signing bonuses.

Training

Most employers provide intensive on-the-job training, teaching employees the specifics of the job, such as the products and services offered. Trainees in large firms may receive technical instruction in securities analysis and selling strategies. Firms often rotate their trainees among various departments to give them a broad understanding of the securities business.

Securities, commodities, and financial services sales agents must keep up with new products and services and other developments. They attend conferences and training seminars regularly.

Licenses, Certifications, and Registrations

Brokers and investment bankers must register as representatives of their firm with the Financial Industry Regulatory Authority (FINRA). To obtain the license, potential agents must pass a series of exams.

Many other licenses are available, each of which gives the holder the right to sell different investment products and services. Traders and some other sales representatives also need licenses, although these vary by firm and specialization. Financial services sales agents may need to be licensed, especially if they sell securities or insurance. Most firms offer training to help their employees pass the licensing exams.

Agents who are registered with FINRA must attend continuing education classes to keep their licenses. Courses consist of computer-based training on legal requirements or new financial products or services.

Although not always required, certification enhances professional standing and is recommended by employers. Brokers, investment bankers, and financial services sales agents can earn the Chartered Financial Analyst (CFA) certification, sponsored by the CFA Institute. To qualify for this certification, applicants need a bachelor’s degree or 4 years of related work experience and must pass three exams, which require several hundred hours of independent study. Applicants also must have an international passport. Exams cover subjects in accounting, economics, securities analysis, financial markets and instruments, corporate finance, asset valuation, and portfolio management. Applicants can take the exams while they are getting the required work experience.

Advancement

Securities, commodities, and financial services sales agents usually advance to senior positions in a firm by accumulating a greater number of accounts. Although beginners often service the accounts of individual investors, they may eventually service large institutional accounts, such as those of banks and retirement funds.

After taking a series of tests, some brokers become portfolio managers and have greater authority to make investment decisions regarding an account. For more information on portfolio managers, see the profile on financial analysts.

Some experienced sales agents become branch office managers and supervise other sales agents while continuing to provide services for their own clients. A few agents advance to top management positions or become partners in their firms.

Many investment banks use an “up or out” policy, in which entry-level investment bankers are either promoted or terminated after 2 or 3 years. Investment banks use this policy to ensure that entry-level positions are not occupied long term, allowing the bank to bring in new workers.

Important Qualities

Analytical skills. To judge the profitability of potential deals, securities, commodities, and financial services sales agents must have strong analytical skills. This includes computer programming skills which they use to analyze financial products. 

Customer-service skills. Securities, commodities, and financial services sales agents must be persuasive and make clients feel comfortable with the agent’s recommendations.

Decisionmaking skills. Investment banking traders must make split-second decisions, with large sums of money at stake.

Detail oriented. Investment bankers must pay close attention to the details of initial public offerings and mergers and acquisitions because small changes can have large consequences.

Initiative. Securities, commodities, and financial services sales agents must create their own client base by making “cold” sales calls to people to whom they have not been referred and to people not expecting the call.

Math skills. Securities, commodities, and financial services sales agents need to be familiar with mathematical tools, including investment formulas.

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Stock Broker jobs

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Real Stock Broker Salaries

Job Title Company Location Start Date Salary
Stock Broker Worldwide Wealth Management Corp New York, NY Mar 05, 2010 $68,000
Stock Broker EJ Sterling, LLC Miami, FL May 22, 2014 $66,888
Stock Broker National Securities Corporation New York, NY Sep 27, 2015 $65,156
Stock Broker National Securities Corporation New York, NY Dec 30, 2016 $61,546
Stock Broker National Securities Corporation New York, NY Dec 26, 2016 $61,483
Stock Broker National Securities Corporation New York, NY Dec 30, 2016 $61,483
Stock Broker National Securities Corporation New York, NY Sep 11, 2013 $54,992
Stock Broker Global Arena Capital Corp. New York, NY Oct 01, 2013 $54,992
Registered Representative/Stock Broker Global Arena Capital Corp New York, NY Sep 17, 2010 $51,000
Registered Representative/Stock Broker Global Arena Capital Corp New York, NY Sep 24, 2010 $51,000
Stock Broker National Securities Corporation New York, NY Oct 01, 2009 $50,025
Stock Broker National Brokerage Financial, LLC Islandia, NY Jan 17, 2012 $50,000
Stock Broker Global Arena Capital Corp. New York, NY Oct 01, 2010 $49,858
Stock Broker National Securities Corporation New York, NY Sep 30, 2012 $49,671
Stock Broker National Securities Corporation New York, NY Oct 01, 2012 $49,671
Stock Broker National Securities Corporation New York, NY Sep 26, 2012 $49,128
Stock Broker Global Arena Capital Corp. New York, NY Jun 17, 2011 $46,218
Stock Broker National Securities Corporation Melville, NY Sep 11, 2013 $39,757
Stock Broker Aisha Holding Corporation Miami, FL Sep 26, 2012 $38,958
Stock Broker Aisha Holding, Inc. Miami, FL Apr 01, 2010 $38,438
Stock Broker Aisha Holding, Inc. Miami, FL Sep 25, 2010 $38,438
Stock Broker Aisha Holding, Inc. Miami, FL Jul 15, 2009 $38,438
Stock Broker Aisha Holding, Inc. Miami, FL Oct 01, 2009 $38,438

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Top Skills for A Stock Broker

FinancialMarketsCustomerServiceEquityMarketsBrokerageAccountsNewAccountsStockMarketHighNETPotentialClientsNewClientsClientRelationsClientPortfoliosMarketConditionsInvestmentStrategiesNasdFinraStockQuotesFinancialProductsFinancialGoalsClientBaseFinancialNeeds

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Top Stock Broker Skills

  1. Financial Markets
  2. Customer Service
  3. Equity Markets
You can check out examples of real life uses of top skills on resumes here:
  • Assist clients with educational tools to develop knowledge and understanding of financial markets, trading guidance and portfolio management.
  • Provided a wide array of customer services including: financial planning, investment sales, asset allocation and quality customer service.
  • Guided and provided security information on equity markets and industries to investors.
  • Educated retail investors on stocks and options and managed all aspects of retail brokerage accounts.
  • Developed new accounts and managed existing customer portfolios.

Top Stock Broker Employers