Careers as a Stock Trader
Stocks are financial instruments that give purchasers a portion of ownership in a company. Stock traders are the people responsible for buying and selling stocks for consumers.
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Function
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Stock traders buy and sell stock on the open market for their customers in exchange for fees and commission. Stock traders may also give their customers advice on what stocks to buy and when to both buy and sell shares.
Types
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Stock traders may work independently, for investment companies or financial institutions. They may also be full-service financial sales represents who sell life insurance, annuities, bonds, mutual funds and other securities.
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Education
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Stock traders have a minimum of a bachelor's degree in a field such as finance accounting, business or economics. Many traders continue on to earn masters' degrees in business administration.
Licensure
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Traders must pass an exam called the Series 7 to become eligible to buy and sell stocks. After passing the examination, traders become licensed by the Financial Industry Regulatory Authority.
Outlook and Compensation
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The US Bureau of Labor Statistics predicts that the financial services sector will increase by 25 percent over the next two decades, resulting in the creation of 79,000 new jobs. In May 2008, stock traders earned an annual median salary of $92,050.
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