What Do I Need to Study to Become a Stockbroker?

Stockbrokers help consumers buy, sell and trade stocks. The job is often glamorized in the media, but it is a fast-paced, challenging career choice.

Skills

Because the stock market is fast-paced and ever changing, stockbrokers need to be competitive and love a challenge. Also, because stockbrokers work with clients, they need to have excellent people skills and sales ability. Stockbrokers sell stocks, but they also sell themselves as someone clients can take advice from.
Stockbrokers work with numbers, so they need to enjoy math and know how to quickly access and analyze news and information about publicly traded companies and economic trends.
Stockbrokers should have a strong investment portfolio of their own so that clients will trust that they know how the market works from personal experience. It's also a good idea to study the market and read or watch market news every day.

Education

There are no specific educational requirements for stockbrokers, but the field is very competitive, and the majority of brokers do have college degrees. Undergraduate degrees that would be the most beneficial include degrees in economics, finance, marketing, and sales. Many college campuses have investment clubs, though which students can learn more about the stock markets.

Training

Beyond taking college courses, the aspiring stockbroker will need an entry-level job or internship with a brokerage firm. Many firms will often pay for talented interns to become registered stockbrokers. Before registration, most firms will require you to apprentice under a registered stockbroker. During that time, you may be required to work very long hours for lower pay.

Registration

Only registered stockbrokers are legally allowed to practice. There are two exams a person must pass to get registered: the Series 7 and Series 63 exams. The National Association of Securities Dealers administers the exams, and once you pass them, you are registered. Although there are no educational prerequisites for these exams, they do require that you have on-the-job training before you take them.
Some states have requirements in addition to the exams. Check with the state in which you will practice before attempting to register.

Time Frame

Becoming a stockbroker may take several years. Undergraduate degrees usually take four years to complete. If you decide to just take one or two classes at a time, your education may take several months to a year or more.
Most brokerage firms require that you train with them for at least six months before you take the registration exams. All in all, it will probably take at least a year, and up to five years, to become a registered stockbroker.