How Do You Become A Stock Broker?
If you are interested in the stock market, you may be thinking to yourself, How can I become a stockbroker? There is no educational background needed to get in this industry. The basic qualification you need is an interest in the market. But if the reason for your interest is to simply gain more money, you may end up frustrated. The stock market is a fast-paced, tedious industry, where you have to invest hours and hours to get yourself ahead and to understand the market. You must invest your time to collect a firm set of clientele. But even after having a good understanding of the market and having a set of loyal clients, there can still be curve balls you need to prepare yourself for. This preparation can only be acquired through time and experience. That is what youll have to face when you get into the industry. Before you actually get in the industry, you have to understand that normally, stockbrokers do not become stockbrokers right after graduation. To start off in the industry, y
Stockbrokers can aim to trade on the New York Stock Exchange, which is the largest stock exchange in the world, the American Stock Exchange, which specializes in exchange-traded funds, along with small to mid-size stocks, or the NASDAQ, which is the “over the counter” stock exchange. The average stock broker salary may be in excess of $175,000 for retail stock brokers and about double that figure for institutional stock brokers, while the average investment banker may take home about $850,000 in pay and bonuses. Traits of successful stock brokers To convince clients to trust you with their investment, you need self confidence, selling skills and the capacity to take repeated rejection. Stock brokers must have integrity, together with competence and professionalism, in order to excel. Employers prefer to hire mature people with good interpersonal skills, who have the capacity to work independently. Successful people from other professions, who wish to make a career change, are also welc
