HOW TO BECOME A STOCKBROKER?
Stockbrokers are responsible for buying and selling shares and stocks for commercial and private clients; usually mainly salaried on a commission basis. If you don’t know how to become a stockbroker, you’re not alone. Becoming a stockbroker can be a difficult process, largely due to the intense competition in the career field. Educational Requirements
Becoming a stockbroker requires particular educational certifications to prove you have the aptitude to deal with financial institutions. This means that if you are looking to become a stockbroker, you need to ensure that you plan your educational path accordingly. A Bachelor’s degree is the most basic requirement, especially in a related subject. Due to the nature of working with stocks and shares, mathematical and financial based degrees are favoured. Relevant degrees include subjects such as:
In order to make yourself more attractive to employers, undertaking an MBA is a good idea as it can increase basic salary on entry. Training Requirements
Further to education, stockbrokers need to sit examinations in order to gain licenses to practice. Firstly, you must complete four to six weeks of employment before taking examinations; this can be in the form of an internship. After this period, you need to take the Series 7 examination, formally known as the General Securities Registered Representative Examination. You must pass with a score in excess of 70% to gain your license. This automatically registers you with the Financial Industry Regulated Authority, sponsored by the hiring brokerage. It is important to note that some states require further licensing, such as the Uniform Securities Agents State Law Examination, and the Uniform Investment Adviser Law Examination. Personal Requirements
Being a stockbroker requires a certain type of personality, and the job simply isn’t for everyone. If you feel you are...
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