Stockbroker Career
So you think you might want to be a stockbroker?
Perhaps the most popular area of the
investment industry is that of a stockbroker. Although
some of you might think that breaking into the business
is difficult, but it actually is pretty easy. That
of course depends somewhat on where you would be willing
to work and what you would be dealing in. If you are
a young person out of high school or college and can
accept less guaranteed money for the potential to
make a lot, then the options are limitless. Unlimited
income and freedom to control your destiny.
Sound to good to be true? Maybe, but
the fact is many people have changed their lives by
becoming a Stockbroker or any Investment Professional.
Brokerage firms that pay their brokers mostly on commission
are always hiring. The idea that an unlicensed or
inexperienced person will not be able to find a lot
of openings is false. The risk that a stock brokerage
firm takes when hiring new brokers in minimal.
A stock firm does not pay much in salary.
$250-$500 weekly during training is the average. So,
if a firm hires someone at $350 a week, the upside
to the firm is high. You have to consider the initial
loss of income when entering this business. If you
are 20 years old, you might not consider that pay
in the beginning as that low. Older workers with more
personal and financial responsibilities have to consider
it a little more.
Finding a job with a firm in this industry
is different from others. Your choices are broad and
the way you go about it can enhance your chances.
Dont just look for job ads in the newspaper or the
Internet. Call up the firms themselves and inquire
about openings even if they are not advertising. Look
in your local phone book and call them. You may have
an office of a terrific firm in your town that might
hire you. Do not ask the receptionist if they are
hiring. Ask to speak to the Sales Manager in particular.
The Sales Manager of a firm is paid largely on the
production of the brokers hes managing. So, if you
sound eager enough and come across well on the phone,
I guarantee he will at least take your name and give
it consideration if not bring you in that same day!
The Series 7 and the Series 63 licenses
will be required before you can begin working with
customers. Your firm will sponsor you for those exams.
Other licenses may be needed depending on the firm
and the securities they deal in.
Not an easy job for sure. It will take
long hours, the ability and willingness to cold call
effectively, and the drive to be the best. Only then,
will you earn your worth.
Good Luck!
Nick Hunter is the President of American
Investment Training, Inc. (AIT) http://www
.aitraining.com He has personally taught thousands
of students in the securities industry for over 15
years. His company offers home study courses for people
looking to get licensed in the investment field.
