You may believe becoming a stockbroker is an interesting and appealing adventure, but you are wondering what you have to do in order to find the perfect job in this field. A stockbroker must be one that can handle working in a fast-paced environment and handle the situation in a calm and cool manner. This means you must be able to handle stress related situations at all times.
To begin your career as a stockbroker you must first realize that according to the company a stockbroker is known by a variety of names including Financial Advisor, Financial Consultant, and broker.
Things you will need to become a stockbroker include:
Excellent knowledge of the financial markets
College degree in business, finance, or economics
Course
You can start your career as a stockbroker while you are still in high school by taking the proper courses. The courses you will need to take include:
Mathematics
Economics
Business
You will also need a starting sum of money to begin creating your stock portfolio. Learn about the different investments and their returns. Yes, becoming a stockbroker takes doing your homework. You have to study the various investments so you can determine which ones will give you a bigger and better return for your money.
The next step is to join an investment club. Your age does not mater. You can still be high school or middle aged to join, but the knowledge you receive will be immeasurable. Most investment clubs compare investments, analyze results, and invest in funds as a whole.
If you have not gone to college or are not quite old enough to enter, put college on your list of must haves in order to become a stock broker. You will need to graduate from college with a degree in finance, business, or economics.
Stockbroker Exams
After graduation, you will have to pass the General Securities Registered Representative Examination (Series 7 exam) which is given by the National Association of Securities Dealers. In some states, you will also have to pass another exam known as the Uniform Securities Agents State Law Examination along with the Uniform Investment Advisor Law Exam. The best way to prepare for these exams is by working with a brokerage firm. You will be learning as you go and once you have passed the exams you will become a registered representative of the sponsoring firm.
A tip on the Series 7 exam
Many fail the series 7 exam the first time they take the test. This normally has nothing what so ever to do with smarts, but unfamiliarity with how the computer testing works. Do not worry if you fail the first time. Just study a bit more and take it again. This time you will pass with flying colors.
You will have to stay on your toes while working at the firm as in most cases these firms hire several newly graduated students with the understanding that a large amount of them will not make it during the training months not to mention building their own portfolio of clients.
On your resume point out all of your work experience and study course that are in the business, finance, and economic fields. You should not be quiet and shy during your interview, as stockbrokers need to have an aggressive behavior to make in the industry.
