January 4th, 2013
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Become a Stockbroker
Many people may become a stockbroker because they are passionate about investing and building wealth. Stockbrokers work for themselves, for other companies and for individuals. They buy and sell on the stock markets in the hopes of increasing wealth by buying and selling shares of companies. These high stress jobs are often best for those who can handle a constant level of demand and who are in tune with the financial markets. Often, individuals who work as stockbrokers connect buyers and sellers together in financial markets.
What are the prospects for stockbrokers?
Overall, the number of stockbrokers is likely to increase over the next decade. Well-qualified professionals will always be in demand, both domestically and internationally. Many will provide aid in selling securities to individuals, but others participate in investment management. Typically, individuals will remain in this field long term if they are successful.
The US Bureau of Labor Statistics indicates there is about a 15 percent expected job growth rate that will happen in this field from 2010 through 2020. This will add about 47,500 jobs to the nation in that time period. This is about as fast as average when compared to other career fields.
What Training Is Required to Become a Stockbroker?
To become a stockbroker, individuals must earn a bachelor’s degree or higher. This formal level of education is a requirement for nearly all entry level careers in this field. Often times, a Master of Business Administration, or an MBA is also a requirement for those who will work in upper level positions in the field.
The training for these individuals often focuses on financial-based training. They will learn how to predict markets, how to buy and sell properly, investment strategies and key aspects of managing finances. Though many work for financial services as agents, others work in more focused careers, such as working on the floor of a stock market. In these instances, individuals may need more training that provides job skills for the career selected.
What Types of Jobs Are Available in This Field?
Those who work as stockbrokers may hold various positions. Security service sales agents deal specifically with investment securities. This includes company stocks, for example. Some work as commodity service sales agents. Here, they manage the buying and selling of goods. Still others work as financial services sales agents, often directly with buyers or financial investment firms, to buy and sell in the industry.
The job tasks of a stockbroker differ from one industry and job position to the next. However, in the formal sense, these individuals work in stock markets facilitating the buying and selling of stocks between individuals and companies. They do not offer financial advice to clients, though. They are not financial advisors.
Some individuals may advance to management positions within their field. Their job, in those cases, is to monitor the successes of the staff of stockbrokers working for the company. Some individuals do provide freelance stock buying and selling services, but this is less common and requires licensing as a financial investment officer in some cases.