This is an industry where the risks may be as high as the returns or rewards. However, it’s one of the most profitable careers that you can choose to pursue. Stock brokers work in a fast-paced work environment. If you dream to earn a million dollars salary and ready to work in a stressful environment, becoming a stock broker can be the right career option for you.
Given below are some of the most important tips that aspiring candidates should follow to become successful as a stock broker.
Start Career Preparation as Early as Possible
Stock brokers work with numbers. They also keep a close watch on the conditions of the economy. Therefore, it’s always advisable to have a solid background in subjects like mathematics and economics. You can focus on these subjects right from your school days, so that you can develop these skills for future career benefits.
Obtain a College Degree
Though a college degree is not a prerequisite for becoming a stock broker, you should complete a graduate degree to increase employability. Employers give preference to candidates with high educational qualification. You can obtain a post graduate degree in subjects like finance, economics, business etc. The training program will provide you with a well rounded technical knowledge about stock broking.
Appear for the Series 7 Examination
If you intend to provide general securities as a stock broker, you need to appear at the Series 7 examination. The exam is administered by the Financial Industry Regulatory Authority. The New York Stock Exchange created this examination for aspiring stock brokers. By clearing this exam, you can become a registered stock broker of a brokerage firm.
Gather Work Experience
Start working as a brokerage firm as quickly as possible. It’s advisable to join such a firm even before you appear for the Series 7 exam. Working at a stock brokerage firm provides with useful work experience. Most of the employers offer on-the-job training, which can bring you plenty of benefits.
Create an Impressive Work Portfolio
Since the stock broking industry is highly competitive, you should create an attractive portfolio of your work to grab the attention of employers. The portfolio should showcase the skills that you carry.
Apply for Jobs
The hardest part of getting a stock broker’s job is interviewing. From being recruited as trainees to getting interviewed and getting hired, it’s a challengine journey. Prepare yourself for the interviewing process so that you can beat out the competition. Employers prefer hiring candidates who are achievers and have a high level of confidence.
Be a Constant Learner
If you really want to become successful as a stock broker and make your mark in the industry, you should keep on learning. Acquire plenty of industry knowledge so that you can be able to read the pulse of the stock market. Take help and tips from those who have already achieved success in the industry.
A stock broker's career can prove to be one of the most highly paid careers, provided you are ready to take risks. If you have matching job skills, you can decide to pursue this career. If you are unable to make the right career decision, you are advised to take a free career test. The test makes your aware of your aptitude, talents and skills.