Career As A Stockbroker: Eligibility | Internship | Certifications

Mar 19 2019 by Mohit Verma

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Career as a Stockbroker: A stockbroker is an individual who sells and buys stocks & other securities through a stock exchange or maybe over the counter. He, in return, receives a commission. He is usually associated with a brokerage firm.

If you are planning to start your career as a stockbroker, you need to master some skills such as – numerical skills, cold calling skills, follow up skills, sales skills, communication skills, and of course, finance skills. It is an old saying..Want to become a stockbroker? Then, be good in numbers and good with people.

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Career as a Stockbroker:-

career as a srockbroker
src: eCheck.org

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.

Step 2:

Internship at brokerage firms and investment banks will boost your experience as well as chances for post-graduate employment.

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 examination i.e., Series 7 and Series 63 exams. Series 7 exam covers the financial topics relating to the trading of many different types of securities and the Series 63 exam covers the trading of securities and state rules & laws.

NOTE:

  • Series 7 & Series 63 (required to become a stockbroker)
  • Series 65 (to become a licensed investment advisor)
  • Series 66 (combination of Series 63 and 65)

If one wishes to pursue Masters in Stockbroker career, she/he needs to have completed bachelors program, internship and work experience in finance field.

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Professional Areas for a Stockbroker –

  • Financial Advisor
  • Securities Trader
  • Investment Banker
  • Financial Analyst
  • Financial Manager

Salary of a Stockbroker –

According to the U.S. Bureau of Labor Statistics, the median annual salary is $71,720 or $34.48 per hour. However, this can vary widely depending on a variety of factors such as company, type of broker, locality. The process of pursuing your career as a stockbroker entire process can be a time-consuming and costly adventure, but many find the financial rewards worth the initial struggle.