Who is a stockbroker?
Stockbroker is an individual who sells and buys stocks & other securities through a stock exchange or may be over the counter. He, in return, receives a commission. He is usually associated with a brokerage firm.
Career as a stockbroker around the world :-
Step 1 :
Get A Bachelor’s Degree in finance or business administration. a bachelor’s degree is required for entry-level securities, commodities, and financial services sales positions. On-the-job training programs are often available to aspiring stockbrokers, which further, allows them to gain practical experience and work towards gaining the required professional licenses. However, a master’s degree in business and finance are very popular and highly recommended, but not necessary.
Step 2 :
Internship at brokerage firms and investment banks will boost your experience as well as chances for post-graduate employment. This is a best way to receive the intensive training that some of the bigger companies require.
Step 3 :
Find A Sponsor around you, like if you are from United States then, FINRA (Financial Industry Regulatory Authority) will help you to take the necessary licensing exams.
Step 4 :
Pass The Licensing Exams i.e., a stockbroker must pass both the Series 7 and either the Series 63 or the Series 66 exams in order to be properly licensed. Series 7 exam covers financial topics (trading of securities) and Series 63 exam focuses on state rules and laws along with trading of securities.
Other Professional Areas for a Stockbroker :-
- Financial Advisor
- Securities Trader
- Investment Banker
- Financial Analyst
- Financial Manager
Skills Required To Become A Stockbroker :-
- Analytical Thinking
- Presence of Mind
- Numerical Skills
- Customer Care
- Initiative & Ambitious
Salary of a Stockbroker :-
The median annual stockbroker salary is $60,927. However, this can vary widely depending on a variety of factors like the firm they are working for, number of years in the business, level of educational attainment, geographical location and so on.
- Chartered Financial Analyst
- Chartered Financial Consultant
- Certified Financial Planner