Questions about becoming a stockbroker?

Question

I have some questions about become a stockbroker?

1. What kind of experience and training do you need to become a stockbroker?
2. What kind of degree do you need to become a stockbroker?
3. Is there any companies out there that would hire a stockbroker without a degree?
4. Is there any companies that would hire a stockbroker without experience?

Answer 1

You can be a stockbroker without a having a degree. However, many of the stcokbrokerage companies require that you have some corporate, financial knowledge or background. In essence, although you don't need a degree, most brokerage companies prefer their stockbrokers to have a business degree.

Majority of brokerage firms will offer their own training. I think you then have to become licensed before you become a broker. You absolutely do not need experience to be hired by a brokerage firm, because they will offer their own training. The "big," brokerage firms tend to pick the cream of the crop students from the top business schools to work for them. Or, if you are well connected or networked, you could find your way through, by knowing someone who knows someone who can consider you for a position.

Answer 2

1. Many large brokerage firms will train you at the firm, but of course, brokerage companies prefer to hire people who already have a client list to bring to the firm.

2. Theoretically, you don't need a degree to be a stockbroker, but most large firms tend to lean toward accounting, business and finance majors. Also, you need to get a Series 7 license in order to sell securities (it's a test that I believe is about 250 questions, and there are prep classes to take for it).

3. There are companies who will hire without a degree, but I think typically it's more like people who are already "in house" that have shown aptitude in that area.

4. I think many large brokerage companies hire stockbrokers without experience. Heck, when I graduated from college (accounting major), I was getting 5 calls a week from brokerage companies and I didn't know squat about the industry.

Remember, being a stockbroker is simply a high end sales job. You need a huge network of people to call, and you need to be prepared to do a lot of "cold calling" (calling strangers to see if they'll buy securities from you).

Answer 3

Dear Alix,

Stock broker is a person who do stock and shares trading for clients and take a nominal commission as a revenue from clients.You can do it through online using software.But same time you should need to aware about all the stock market aspects throughly.There is no need for a high end qualification for that.Only you need is some passion and patience.Comapnies hiring stock brokers by talent and skill more over than experince in the preffered field.Companies are providing software and seminar to get people like you to become a stock broker.You can get more details from http://www.centurybroker.com/en/seminar.php
Source(s):
http://www.centurybroker.com/en/seminar.php

Answer 4

1) None whatsoever.
2) None whatsoever.
3) Yes. (That job was exclusively for people without degrees just like a gas station or a toll booth)
4) Yes. (That job was exclusively for people without experience)

Nobody hires human stockbrokers anymore.
You are aware stockbrokers are now computers, right?

Films like "Wall Street", "Boiler Room" and "The Pursuit of Happyness" take place in the eighties.