Stock Trader Job Description
A stock trader is a financial-services professional who manages the financial portfolio of his clients by purchasing and selling securities based on the individual financial objectives of his clients. He may work for a large or small firm.
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Job Responsibilities
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A stock trader markets his firm's products to his clients. A stock trader seeks out prospective clients. She counsels clients on their financial goals, establishing guidelines as to how aggressively or conservatively they would like to play the stock market. She places buy or sell orders with the stock exchange. She notifies clients when transactions have been completed; and she maintains positive relationships with her clients.
Job Opportunities
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Stock traders are employed by large financial institutions such as investment banks, as well as at small boutique brokerage houses. A candidate seeking this type of employment can apply directly to the firm for which he would like to work. These roles may also be found advertised in the classified section of his local newspapers. Additionally, available stock trader roles may be listed on online job search boards such as monster.com, jobs.com and careerbuilder.com. Professional organizations such as the Security Traders Association provide many resources and networking opportunities for candidates seeking employment opportunities within the industry. Candidates may also find jobs by utilizing the services of employment agencies that focus specifically in the placement of sales and financial services professionals.
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Qualitative Requirements
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To be a successful stock trader, a candidate must possess strong interpersonal and communication skills, as she will be in close contact with her colleagues on a daily basis. Additionally, she must be incredibly self-motivated, possessing a high desire to be successful. She must be extremely confident. She should also understand the sales process.
Educational Requirements
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To become a stock trader, the successful candidate must possess a four-year degree in finance, business or related field of study. Additionally, to maintain compliance with the U.S. Securities and Exchange Commission, he must be meet the licensing requirements of his state, be registered with the National Association of Securities Dealers (NASD) and in some locations, be bonded. He must also pass the General Securities Registered Representative Examination (Series 7 exam), which is administered by the NASD.
Average Compensation
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According to Salary.com, in 2009, the average stock broker working in the United States of America earns an annual base salary of $54,453. The United States Bureau of Labor Statistics anticipates the employment of securities, commodities and financial services sales agents to increase by 25 percent within the decade of 2006 through 2016.
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References
- Photo Credit stock.xchng http://www.sxc.hu
