How to Become a Bond Broker
The billions of dollars that pass through U.S. securities exchange groups daily are used to buy stocks, mutual funds, securities and bonds. Bond brokers are responsible for handling the sales of these bonds, issued by corporations to raise capital. Bond brokers are highly qualified and highly knowledgeable about their field, because bond investments are considerably more complex than investing in stocks. Pursuing a career in bond brokering can be time-intensive, and competition can be intense.
Other People Are Reading
Things You'll Need
- College degree from a top school, with a concentration and good grades in math and businesses
- NASD license
Instructions
-
-
1
Graduate from a top school, with concentrations in math and business. Brokerage firms look for candidates with strong math and analytic skills, and top-tier schools are more apt to have Wall Street recruiters visiting their campuses and holding interviews.
-
2
Pass the General Securities Representative Exam (the Series 7 Exam). This 6-hour, 260 exam tests your knowledge of investments, including stocks and bonds. You must score at least 70 percent to pass.
-
-
3
Register with the National Association of Securities Dealers (NASD).
-
4
Display strong interpersonal and written communication skills. Bond brokers serve as middle men, communicating with institutional investors and traders via the phone and Internet to arrange transactions.
-
5
Complete an internship with a brokerage house. Although unpaid, internships provide invaluable experience that can be displayed on your resume, and expand your network of contacts when it comes time to search for a job. A successful internship can often lead to a permanent position after graduation.
-
1
Tips & Warnings
Consider taking a course to help you prepare for the Series 7 exam. These courses can help you identify where best to focus your studies, and they offer the opportunity to take practice tests beforehand. Consider a securities-related entry level position to show your willingness and strong desire to learn as much as possible about the industry. Positions could include being an assistant or even a cold caller.
