Stockbroker Job Description Information

Stockbrokers are financial professionals who are trained to gather information about stocks, bonds, mutual funds, pension plans and other similar financial instruments. These professionals use the information they collect to evaluate the potential of financial instruments and to locate potential clients who may be interested in purchasing or selling these instruments.

 

Responsibilities

• Stockbrokers develop investment plans based on the needs of a specific client, maintain records of the investments each client makes, monitor transactions related to a client's investments, review financial reports and perform other similar tasks.

Education/Training

• A stockbroker is typically required to have a bachelor's degree in any field and a registered representative license. However, a stockbroker with a master's degree in business administration (MBA) may have access to more employment opportunities.

Salary

• A survey conducted by the U.S. Bureau of Labor Statistics in May 2006 indicates that stockbrokers may earn anywhere from $31,000 to $145,000 a year depending on their experience and/or skill.

Career Development

• A stockbroker may receive the opportunity to handle larger accounts (banks, corporate accounts, retirement funds) or to become a branch manager with enough experience and/or education (as required by clients and/or employer).

Work Locations

• Stockbrokers typically work in banks, credit unions, investment firms, the homes of clients and other similar locations in which a broker may be able to sell stocks and other securities.

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Stockbroker Salary Information

The professional stock broker, the guy who hussles shares of a company, is someone who makes good money – if you trust the stock broker salary data just released.

Here’s what the gov’t said about the stock broker career in May 2010:

The median annual wage-and-salary wages of securities, commodities, and financial services sales agents were $68,680 in May 2008. The middle half earned between $40,480 and $122,270.

Competition for jobs will continue to be keen with more applicants than available openings.

Addtionally, the recent financial crisis has resulted in mass consolidation in the financial industry, a scenario that will likely result in fewer positions as companies attempt to streamline operations by eliminating duplicate tasks.

So, the pay is reasonable, but the jobs are disappearing…

Glassdoor says you can get jobs that pay from $34,000 up to $120,000/year or more. New York is a good place to get a job…it’s dog eat dog, but there’s stock broker jobs.

Article Source: http://www.salaryblog.org/1072/stock-broker-salary/

How to Become a Stockbroker

To become a stockbroker, you start working on your career while you are in high school if you can. Take math, economics, and business courses. You can even have your own stock portfolio to learn about the different investments. Join an investment club. Investment clubs compare different investment opportunities and invest its funds as a group. Most stockbrokers are college graduates. Go to college and get a degree in economics, financing, or business.

You will need to pass the series 7 exam and most states require you to pass the series 63 and series 65 exams as well. Most brokerage firms offer on-the-job training. This will only take about four to six months. You will probably want to take advantage of this and use what you learn in your exams. Once you pass the exams, you will become a representative of your firm.

Being a broker is hard work and it is a very competitive job. In your resume, emphasize all your work experience, training, and schooling. They will be looking for someone with experience and knows what they are doing.

Brokerage all comes down to sales. If you were formerly a real estate agent, for example, it can be easy and rewarding for you to go into the brokerage business. Talk to other stockbrokers and ask them about their experience. Also go to job fairs and talk to people about becoming a stockbroker. This is one of those jobs where you will be faced with a lot of rejection and every day is a gamble. You can either loose money or gain money. You need to be strong and able to take anything that is thrown at you.

Article Source: How to Become a Stockbroker