Stock Broker Career Description
Stock brokers are certified and regulated financial advisers who are responsible for buying and selling shares on behalf of private investors. Rather than trading investments directly, investors seek the knowledge and assistance of a stock broker to relay the terms of a trade to a company's headquarters. Generally, the most important task of this position is to demonstrate dependability and superb skill in finance, while maintaining and expanding your client base.
Other People Are Reading
-
Responsibilities
-
The duties of a stock broker involve formulating investment plans for clients based on their specific needs while managing the records and monitoring the transactions of client investments. In addition, a stock broker must keep updated on financial reports while gathering information about stocks, mutual funds, bonds and pension plans.
Education/Skills
-
The educational requirements needed to be a successful stock broker include an undergraduate degree in any finance-related field and a registered representative license. However, to gain access to more employment opportunities, it is essential to obtain a master's degree in business administration (MBA). In addition, a stock broker is required to attend training courses throughout his career in order to stay current with the ever-changing nature of the industry.
Along with academic training, a stock broker must demonstrate excellent communication and analytical skills in order to maintain client relationships as well as professionalism and confidentiality when handling the financial information of others.
-
Locations of Workplace
-
Stock brokers have the option to work in different business settings, including banks, investment firms, credit unions and other areas where they are able to buy and sell stocks and other securities.
Career Path
-
Through experience and proven success, a stock broker has the advantage of managing larger corporate accounts and retirement funds. In addition, with the right level of expertise, he can be promoted to branch manager.
Salary
-
According to the Bureau of Labor Statistics, as of May 2009, the median salary of a stock broker in the United States is $64,810. However, based on a career profile review in MyPursuit.com, depending on experience, skill and education, a stock broker has the potential of earning higher levels of salary. For example, highly paid stock brokers have earned more than $145,600 annually.
-
References
Resources
- Photo Credit office details image by .shock from Fotolia.com
