Some possible jobs within this career area are:
The career you want will dictate the degree you need. Depending on your choice, you might need a graduate degree in business or you could advance your career with a career specific certification. Common degrees available to business majors include:
- Associate’s Degree
- Bachelor’s Degree
- Master’s Degree
- PhD
- Career-Specific Certifications
The expansion of the global economy and the importance that our national economy plays in our daily lives has a direct impact on the future of business majors. There are dozens of business-related fields, and many of them are in constant need of skilled and trained workers. Many of these fields place a high importance on returning to school and getting extra training.
You could complete a routine certification a year, or get your Bachelor’s Degree in four years. MBA programs or other international business programs can take an additional three years.
How to Become a Stockbroker
The way the financial markets are these days, becoming a stockbroker is a gamble. However, there are still many investors in the market which means there’s still a need to become a stockbroker. Here are some key tips on how to pursue a stock brokering career:
- Develop your own trading portfolio. There are a number of low-trade web sites where you can invest and learn the ropes. It’s the best way to get your feet wet and see if you can manage the everyday up’s and down’s of the stock market.
- Earn your degree. Most stock brokers have college degrees in finance, economics or business.
- Work as a brokerage trainee. It's the equivalent of being a production assistant in the entertainment field – the learn-the-ropes, entry-level position. Research firms and their training programs before signing on. What products does the firm offer? What is the reputation of the program and how successful are the firm’s past and current brokers? Note that during your training period, you won’t be making much money, but you’ll be working long, long hours.
- Pass your Series 7and Series 63 exams. After taking these required exams, you’ll be able to act as a licensed stockbroker and begin trading your own and your clients’ accounts.
- Continue to study the markets. The financial world changes constantly. Stay up-to-date with current affairs and issues that can affect the markets by reading publications such as the Wall Street Journal every day.
- Start networking. To do well in a stock brokering career, you’ll need to immediately start building your book of business and bring in your own clients to the firm. Let your friends and family know about your new career, as well as past college classmates, work colleagues or members of your professional organizations.
What are Stockbroker Salaries?
Most people go into a stock brokering career with a desire to potentially make a lot of money. The U.S. Bureau of Labor Statistics reports that the mean annual wage for a financial advisor or stock broker is $94,180. Depending on your experience and client list, there’s an opportunity to make much more.(Salary data retrieved 3/29/11)
The financial world is an ever-changing, exciting environment to build your stock brokering career. To get the education you need to become a stockbroker, find a degree program now!