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How to Be a
Stockbroker


If you thrive on action, like fast-paced environments and dream of a career with rewards as high as the risks, you can then consider becoming a stockbroker.

The best way to be a stockbroker is by going through the following seven steps:

1. Begin to prepare for your career in high school by taking courses in math, economics and business.

And with even a small starting sum, you can manage your own stock portfolio (in a parent's name if you are under 18) to learn about different investments and their return.

2. Join an investment club, which compares different investment opportunities, analyzes results and jointly invests its funds.

3. Go to college. Most brokers are college graduates with a degree in finance, economics or business.

4. Pass the General Securities Registered Representative Examination (Series 7 exam), administered by the National Association of Securities Dealers.

Most states also require the Uniform Securities Agents State Law Examination (Series 63 exam) and the Uniform Investment Advisor Law Exam (Series 65 exam).

5. Take advantage of on-the-job training, offered by most brokerage firms, to prepare for the above exams. This is a process that takes four to six months.

Upon passing the required exams, a broker becomes a registered representative of his or her sponsoring firm.

6. Expect a competitive work environment after being hired. Firms often hire a plethora of recent college graduates with the expectation that a large percentage will "wash out" during the grueling early months of training and building a clientele.

7. Emphasize your studies and work experience (if any) in finance, economics and/or business when writing your resume.

A professional, aggressive image is crucial at the interview, where prospective employers will be evaluating your tenacity along with your business savvy.

Finally, Do Keep in Mind that:

How to Be a Stockbroker

A. The brokerage business boils down to sales.

It can be a rewarding second career for someone moving over from a sales position in real estate or insurance, for example.

B. Always sample firsthand the products you'd be brokering by visiting any brokerage firm or mutual fund Web site.

Also, visit job fairs where securities firms are recruiting and talk to a real live stockbroker and

C. As with any sales job, you need "thick skin" to succeed, and especially to survive those lean early years of very long hours and constant rejection.

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Stockbroker Requirements

The Securities Industry

   

   
 
 
 
 
 

 

 
 
 
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