Stock Broker Career a Career

Stock Broker Career A career as a stock broker is potentially stressful and challenging, but financially rewarding. Career Overview Overview of Duties Types of Stock Brokers Useful Skills and Traits Income Education Work Environment Potential Stressors Career Map Person-to Person Interview Conclusion career as a stock broker is potentially financially rewarding, but stressful and demanding. Stock brokers can work in a number of different environments, and often require specific personality traits and skills. Starting salaries are low, but established stock brokers can earn a substantial income.

A four-year college degree is generally required, as well as work experience, and the completion of several qualifying examinations. We're conditions are good, but the pace of work can be fast, and stresses can be high. A career map for a stock broker would include specific education, a training period, continuing education, and the development of specific skills. A person-to-person interview has given me a deeper understanding of the stresses and educational requirements of the position. Stock brokers invest in the stock market on behalf of corporations and individuals.

Stock brokers offer advice to clients on a variety of investments, and act as a conduit for clients to access a brokerage house. Stock brokers must understand the stock market, and often spend great amounts of time the building a client base (Princeton Review). There are four main types of stock brokers: stock brokers or account executives, institutional stock brokers, financial planners, and financial services sales representatives. Stock brokers or account executives outline the specific advantages and disadvantages of investments to their clients.

They can buy and sell options, futures, stocks, and bonds, as well as other financial products, and supply price quotes and information. Institutional stock brokers generally concentrate on a specific financial product like options stocks, or bonds. They generally work with corporations, or large businesses. Financial services sales representatives work through banks and sell services like lines of credit and financial planning. Often, the financial products they provide are limited. Financial planners are the most independent of all stock brokers, and often do not work in offices.

Their services include mutual funds, life insurance, estate planning, and insurance (FastWeb). A number of specific personality traits and skills are helpful in a career as a stock broker. These include sales ability, communication skills, self-confidence, appearance, and a strong desire to succeed in the field (Hobsons College View). Further, business sense, mathematical ability, curiosity, imagination, and analytical skills are helpful (Sify.com). The potential financial rewards of a career as a stock broker are significant.

Starting salaries as a stock broker are often low, with an average starting salary out of $17,000. The average salary after five years in the profession is $30,000. However the average salary after 10 to 15 years is $65,000 (Princeton Review). However, successful and established brokers can earn upwards of $145,000. Most income comes from sales commissions, with a minimal base salary (FastWeb). A career as a stock broker generally requires postsecondary education, although some stock brokers do not have degrees (Princeton Review).

During high school, students can prepare by taking classes in mathematics, sciences, languages, and business (Hobsons College View). Usually, a four-year bachelor's degree is required, at minimum. A degree in the areas of economics, investments, or a general business degree with an emphasis on economics is useful. And MBA can be useful for working within the securities fields (Hobsons College View). Successful competition of the General Securities Registered Representative Examination is often required, and many states require a stock broker to take the Uniform Securities Agents State Law Examination.

Stock brokers generally must go through a period of time when they are considered a trainee before being considered a stock broker (Princeton Review). Work conditions as a stock broker are generally good. Stock brokers work in offices during business hours, in all parts of the country, under safe conditions (Sify.com; FastWeb). However, although the career may entail considerable stress. The pace of work can become hectic when sales activity is high due to unexpected economic changes.

Similarly hours can be long for those beginning in the profession, who must often work over 60 hours a week to build a client base. However, established brokers may work less than 40 hours per week (FastWeb). The textbook career map for a successful stock broker would include a number of different steps. To begin, a stock broker candidate would take classes in mathematics, business, languages, and science while in high school, as well as a number of extracurricular activities.

The candidate would then obtain a four-year bachelor's degree in financial field or economics. The degree holder would then gain employment, and undergo a four-month training period. To prepare for the General Securities Registered Representative Examination. The candidate may also take the Uniform Securities Agents State Law Examination. As a stock broker, the individual would.