Let’s Make a Deal: Learn How to Become a Stockbroker

Published on: 21 December 2018 Last Updated on: 29 January 2022

Many people don’t have the time or energy to manage their own stock portfolios. Individuals and institutions alike outsource this job to a stockbroker. How to become a stockbroker will not be a matter of question if you follow the write-up in an effective manner.

If you’re interested in becoming a stockbroker, know that the competition is fierce. Many people leaving school are looking to become stockbrokers. Do you have what it takes to make your way in this career?

Being a stockbroker isn’t easy. You’ll face long hours and need strong dedication.

If you think you can do it, give it a shot. Continue reading below to find out how to become a stockbroker. Slay the competition and join the ranks.

How To Become A Stockbroker?

The world of finance is one filled with glamourized notions of wealth and excitement. If you’re successful, this could be a reality.

You should first think hard about this decision. This career isn’t for everyone. Introverts and extroverts alike can find themselves with a successful finance career.

You’ll face challenges, as the process of becoming a stockbroker is intense and demanding.

First, consider your skill set.

A stockbroker spends many hours of the workday on the phone. You’ll need to be able to communicate well with clients and other traders.

Research is essential. You’ll need an in-depth understanding of the stock market. You should be able to relay this information to your clients in a digestible fashion.

Let’s talk about education. How

Required Education:

Often, stockbrokers don’t need to fulfill any specific education requirements.

That doesn’t mean, however, that you will get away without a college education. The competition is tight. A bachelor’s degree is almost always necessary if you want to stand out.

A master’s degree would be better. This will show your prospective employers that you’ve acquired additional skills and abilities.

You won’t need to have a specific major, but a degree in finance or business will help. Think about degrees in accounting, business, economics, or finance.

Search Internships:

Many brokerage firms and investments banks offer internship programs. This will give you an opportunity to work in a finance environment. You’ll have the opportunity to learn the ins and outs of the profession.

You’ll have a higher chance of getting hired once you graduate. Think of an internship as a sort of extended interview.

Licensing:

To work as a stockbroker, you’ll need to obtain the necessary licensing. To obtain the licensing, you’ll need to pass two exams. These are the Series 7 and Series 63 exams.

These can be pricey but you can get a personal, business, or student loan for this purpose from NowLoan.co.uk or similar brokers.

The Series 7 exam covers the trading of different types of securities. Series 63 focuses largely on state laws and regulations.

You’ll need to find a sponsor before you can sit for the exams. You’ll probably need to get hired by a brokerage firm or investment bank before you take the exams.

They should be registered with the Financial Industry Regulatory Committee (FINRA) or another similar authority.

Some firms and banks may require additional certifications. You should ask about this during the hiring process.

Certain licenses and certifications will increase your chances and earning potential.

Other Considerations:

Becoming a stockbroker is no easy task. Potential hires are subject to harsh scrutiny. Different ways you need to consider how to become a stockbroker.

Background Checks:

Brokerage firms and investment banks will run a background check to examine your criminal and financial history. If you have a history of serious legal trouble, you’ll be thrown out of the hiring pool.

If you have proven to be financially irresponsible, this will damage your chances. This means you shouldn’t have any recent tax liens, repossessions, or bankruptcies.

Remember, you’re interested in a finance career. Your job will be to give advice to clients about managing their investment portfolio.

If you can’t handle your own finances, how can you be trusted to handle another’s?

Finding a Firm:

Not all firms and investment banks are the same. Some are larger or smaller. Some work internationally.

Find one that fits your desires and personality.

New stockbrokers often find large firms to be intimidating. You’ll be surrounded by people who know what they’re doing.

Smaller firms are good for those who want a more communal feel. These environments tend to be a bit warmer. They also tend to offer higher commission rates.

The downside to a smaller firm is the size. The name is less-known. It may be more difficult to find potential clients.

Some firms allow you to become a sub-broker. Sub-brokers act on behalf of a brokerage firm but are not a member of one. Kotak Securities Franchise is one such company.

To do this, you must meet most of the same requirements as a regular stockbroker.

Working on Commission:

As a stockbroker, you’ll get paid on commission. The client pays a commission on the trades you execute. It’s up to you to build a clientele and gain confidence.

The commission from each trade will get split between you and the firm. Your firm may offer you a higher or lower commission rate based on the number of trades you execute.

If you execute more trades, you’ll likely get a larger share of the commission. The firm has a vested interest in generating revenue.

Many firms increase their share of the commission if they generate more revenue. This acts as an incentive and a means of generating more business.

Dedication:

Many new stockbrokers back out of the game. You’ll need to demonstrate a strong work ethic and drive.

The most successful stockbrokers are those who put in the hours and dedicate their soul to the profession. That’s why you should be absolutely sure you want to become a stockbroker before you make the choice.

Getting Started In Finance:

The world of finance is somewhat enigmatic to the average citizen. If you’re thinking about a finance career, you’re probably already aware of some of the quirks.

This guide is meant to give you an introduction to the basics of how to become a stockbroker.

Take the time to think about the requirements and decide if this is a career for you. To find out more, check out our other finance-related topics.

Read Also:

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Benefits of Internship Programs

After graduation when you are ready to apply to your first job, do you think having prior work experience would be helpful in choosing the right career for you? Are you thinking about the best way to gain proper career experience before you have to start job searching? If so, it is probably the best route for you to look into an internship program that will give you real-life experience in the career-world within a particular industry you choose as well as serve as an eye-opener for the type of career you may want to plan for. Even if an internship turns out to not be the career choice for you, you are at least able to narrow-down your career options while boosting your resume in the process. To learn more about how an internship can prepare you for your future, we have taken a deeper look in this article to understand how beneficial internship programs are to students. Adds Value to Resume: Getting a good job in this competitive world is becoming increasingly difficult with each passing day. With how competitive the job search is today, employers are likely to give preference to a candidate that has more experience, either in that particular industry or even just the real-world in general if you are just starting out in an entry-level role. When they see experience listed on your resume, it improves your market value. An internship on your CV provides a good way to demonstrate not only work experience, but that you have developed real-life career skills as well. If you are interested in gaining internship experience while also giving back to your community, you can look into non profit internships from local charities who are also more than willing to give students a chance to broaden their educational horizons. Further, nonprofit internships allow you documented proof that displays all the skills that you have gained during the internship. Adding these skills in your resume helps in sharing your work exposure during an interview. Build Industry Connections: While working in a company during your internship programs, you interact with numerous people that let you network and establish contacts with co-workers. Working in a professional network sometimes also helps in securing a job upon completion of your internship there. You also get an opportunity to attend official meetings that give you an idea about essential career skills as well as office culture. All this experience, along with your degree, helps in reaching the pinnacle of success. When you finish your internship in a company, you will hopefully gain a reference, which acts as an invaluable help when you are looking for a job. Try to be on good terms with your fellow interns and the company in which you are attending internship program. You never know how good networking with in past career experiences can help you with a future job you apply to down the road. Develop Skills and boosts Confidence: Good skills are always preferred for a job. While attending internships, you gain skills and become more presentable. You get exposure before starting your career, and it adds as a benefit. Your confidence level is boosted when you make projects, presentations during your internships. With real-world work experience, you understand your abilities, and that makes you more confident in your job interviews. Career Exploration: You join your college with a career goal. There is a possibility that when you attend the internship, during the period your interest moves on to the subject for which you are taking an internship. So, ensure that the programs that you chose for the internships are relevant to your career interests. These programs also help you in narrowing down your career perspective. As these acts as a deciding factor for you to understand what type of job you like. If you don’t like your program, still you are in a win-win situation. This provides you an opportunity to explore the fields that you like. Financial Help: While undergoing an internship from a company, many industries offer you stipend for your valuable work. This also helps the students who are not financially strong to use the money for their college tuition fee. So it’s the best way of gaining experience and making money at the same time. Moreover, many companies offer the job to the deserving candidates, by the end of the internship. Doesn’t it seem great to have a job before your college ends? Your classroom learning is also enhanced with your work experience from these internships. So, grab a program now to brush up your skills and add value to your CV. Read Also: 4 Ways To Keep Your Top Talent At Work Best MBA Colleges In India Attracting The Best Of Best Among Students

Why Use A Free Resume Builder For High School Students?

Entering the job or internship market as a high school student can be intimidating. Plus, writing your first resume can feel overwhelming. Fear not, because free resume builders for high school students are here to help! These platforms allow students to create professional-looking resumes with no prior experience needed. Easy-to-use, ATS (Applicant Tracking System)- friendly layouts and modern designs make these the best resumes for showcasing academic accomplishments, extracurriculars, and volunteer work. Below, I’ve outlined the best free resume builder tools specifically designed for high school students, along with some helpful tips and tricks. Resume Builder For High School Students Free Without any further ado, let’s get into the free tools that will help you in your future. 1. Canva: Drag-And-Drop Simplicity Canva is one of the best design platforms offering many resume templates for high school students. It is even easy to use with the drag-and-drop interface. In fact, you can also easily customize your resume to fit your style and taste. You will need no design skills to work through the application features. A large selection of free, professionally designed templates will appeal to many users. Allows creative resumes with color and layout variations. Resume Tips: Use templates that balance creativity and professionalism. The design should not overpower the content of your resume since the purpose is to present your conceptual skills and experiences clearly. 2. Zety: ATS-Friendly Templates Among the free resume builders for high school students! Zety provides templates that will get through the ATS, which is important if you apply to larger corporations. ATS is an applicant tracking system that could get some of them to use this software to filter resumes. So, your resume needs to be ATS scannable. Do not worry! With Zety, your resume comes out already ATS approved. They also provide real-time tips as you build your resume, so you do not doubt what’s expected. Why It’s Great for High School Students: Provides ATS-compliant templates. Gives you comments for each part as you are writing it. You get the resume free when finished. Resume Tips: Avoid overly creative designs if you apply to corporations or internships with strict ATS systems. Stick to clean, simple formats that highlight key information. 3. Resume.com: The All-Rounder If you're looking for a free online resume builder for high school students without experience creating one, we've got you covered! These templates are downloadable and easy to use, so you can spend more time doing what you love. The best part is that each download comes with expert advice on creating an effective high school resume. It's free, and there's no charge at any time. Simple interface, perfect for beginners. Real-time previews as you type so you can see exactly what your resume will look like. Resume Tips: The first section of your resume should introduce you to the reader positively and enthusiastically. If you are a high school student, this is usually not an issue, and you can move on to the next section. 4. Kickresume: Customization With Real-Time Tips Kickresume is a resume builder that enables you to create, edit, and share your resume. All in one! It also offers customization resources with pre-written real-time tips and samples. For people who have never created a resume, this application also has them covered. Yes, you will get a quarter of a million resumes for inspiration. Why It’s Great for High School Students: Customizable templates with real-time suggestions. Access to templates for various fields. Free option but only with access to basic tools. Resume Tips: List your extracurricular activities and volunteer experiences. These are valuable when you don’t have much job experience. Tailor them to reflect relevant skills like leadership or teamwork. 5. VisualCV: Portfolio And Resume Combo Want to send a CV alongside the cover letter? This free resume builder for high school students is the one for you! VisualCV allows students to build a resume/portfolio hybrid, which is great for creative fields like design or media. You can craft a PDF visual resume or build a portfolio from scratch. Ideal for students with creative projects or personal websites. A free version is available and has basic features. Resume meets portfolio all in one place. Resume Tips: If you’re applying to creative fields, use VisualCV to share your school projects or other work outside of class. You can even include a link to your website or portfolio. 6. Indeed Resume Builder: Built For Job Seekers While primarily a job search engine, indeed also provides its users with a resume-builder tool. Plus, it is very helpful for high school and college students. In fact, their resources are simple to use. Once you are done creating your resume, you can also apply for jobs with just a click of the mouse through the same application. Why It’s Great for High School Students: Quick and easy interface. Resume Tips: Use the resume builder to make a resume with a foundation for jobs. 8. Novoresume: Professional Templates With Extras Novoresume offers premium and free resume templates. However, you do not need to pay for the advanced features if you are new to resume-making. Because whatever you need as a student, you don’t need to pay to get access to good-looking ATS-compliant templates. Why It’s Great for High School Students: ATS-optimized, modern templates. Step-by-step instructions on what to include. The free version contains all the important features. Resume Tips: Be sure to add in any special skills you have, such as being good with software (i.e. Microsoft Office, Adobe Suite). High schoolers usually forget this section and it’ll make you different from others applying. 8. ResumeGenius: Step-by-Step Guide ResumeGenius will walk you step-by-step through the resume creation process. Therefore, ensuring you do not miss anything when creating your first resume is particularly useful. Because It’s Awesome for High Schoolers: Simple step-by-step. Pre-written bullet points you can customize. ATS-friendly templates. Resume Tips: If you’re having trouble writing your experience or skills section, ResumeGenius has many pre-written examples. This can help you tailor your resume. In fact, it's particularly helpful if you don’t know what to write. 9. MyPerfectResume – Pre-Written Examples For starters, MyPerfectResume, a free resume builder for high school students has one of the largest pools of pre-written examples on the internet. If you don’t know how to put your skills or experience into words, it gives you ideas by sending lists of phrases everyone uses. However, do not overdo it because it will make your resume sound too cliche! Why It’s Great for High School Students: Offers examples you could use right away. Possibility to easily alter the patterns. Download resumes in several formats. Resume Tips: Use their examples as a starting point, but always personalize them to reflect your ideas and experience. Even if you’re using a sample, ensure it’s for the same reason as your intended role. Enhance Template - For All the Fancy Resume If you are one of those who wants their resume to look close to perfect, then this is for you! Enhanced templates are visually appealing without compromising professionalism. You’ll get basic templates as a free user, but they are more than enough for a student entering the professional arena. Why It’s Great for High School Students: Free templates that have basic features. Drag-and-drop sections. Customizable layouts that are still professional. Resume Tips: Choose a design that reflects your personality but doesn’t distract from your qualifications. Avoid overly complex designs that may be hard to read. How To Make The Most Of Your Resume Builder Tools Now that you know what the best free resume builder for high school students, here are a few additional resume tips to perfect it Proofread Everything: Even if the tool says they do this, never use something without doing manual proofreading. You don't want a typo in what could have been the perfect resume. Tailor Your Resume: Make sure that every resume you send out has specific information relevant to the employer you’re targeting. Highlight skills and experiences most applicable to the position for which you’re applying. Keep it Concise: Generally, employers and intern coordinators prefer a one-page resume. This is usually enough space to include all necessary information. Only include the most important things employers need to know about you, and don’t include “fluff” or irrelevant information. Use Action Verbs: Try to begin each bullet point in your experience section with an action verb. Leading with passive language dilutes the impact of your achievement. Emphasize Soft Skills: Soft skills, like leadership or problem-solving, can make a big difference in any role. Be sure to emphasize these as well. Happy Job Hunting! It might seem like a lot of work to create a resume, but with the right tools and helpful tips, it's not as tough as you think. If you're applying for part-time jobs, internships, or scholarships, these great free resume-builder apps will guide you through creating an awesome resume! In fact, high schoolers can do it all themselves — for free! Just make sure to tweak each resume for each job or opportunity to make yourself stand out! Read Also: Student’s Guide: 14 Essay Types from the Easiest to the Hardest One 8 Tips for Tech CV Writing to Highlight Skills & Experience Is Hotels/Resorts A Good Career Path In 2021

Best Paying Jobs In Consumer Durables

Get ready for a fulfilling, steady, as well as challenging career if you are looking for a job in the industry. Before you find out what are the best paying jobs in consumer durables, you will need to understand the characteristics, requirements, and eligibility of the industry. In this article, we will discuss jobs in consumer durables and why consumer durables is a good career option. Furthermore, we will also talk about what a job in the industry requires an applicant to be. Read through to the end of the article to learn about the pay grade of jobs in consumer durables, as well as the best paying jobs in consumer durables. Consumer Durables – Why Is It A Good Career Path? Consumer durables mainly include products and goods that people use on a daily basis, and they have a long life. On the other hand, consumer non-durables are the ones that do not have a long life, and people need to consume them in less amount of time. Consumer durables include appliances, furniture, electronics, cleaning, culinary, motorized vehicles, and others. Although a job in the industry might not appear quite profitable in the first instance, as you build your experience in the industry, you start getting paid really well. If you are a graduate or someone who wants to start a career, then a job in consumer durables can be an excellent option for you. Why The Consumer Durables Industry Is A Great Career Option? Although everyone has their own reasons for joining a particular job industry of their choice. However, the consumer durables industry is one of the best options if you want to do something interesting and you like working through diverse options. The following are the major reasons why you must consider working in the consumer durables industry: 1. Better Compensation Image Source: www.patriotsoftware.com Although employees in every industry always seek better-paying jobs, there are still jobs in certain industries that do not have a good pay structure in return for the work. However, in the industry, there are many career options that come with a good salary structure. Hence, any job in the consumer durables industry is appealing to someone who wants a better salary structure from the start. 2. Ability To Work In Diverse Jobs Since there is a variety of product options in consumer durables, there are diverse job options as well. Due to diverse job options, the opportunities for jobs have increased a lot in this industry. Furthermore, if you want to gain experience and skills after graduate school, a job in consumer durables is a great option. This is because of the fact that consumer durable products are available in large numbers, simple to use, and are greatly profitable as well. 3. Flexible Working Shifts If you do not like flexible working shifts and want a more scheduled job, then this industry is not a great option for you. However, by working according to flexible hours, you will be able to get more time for yourself. Employees working in the industry find flexible working schedules better. What Are The Best Paying Jobs In Consumer Durables? Below given are the best paying jobs in the consumer durables industry that you must aim for now: 1. Sales Manager In this job, you will need to supervise and manage the sales activities and the sales personnel. Apart from that, you will also need to focus on the sales activities of the corporation on a daily basis. You will also need to make a sales strategy and sales objectives and monitor their performance. 2. Retail Manager Retail managers have the responsibility to run and manage retail stores. Apart from managing the employees, you will need to keep a track of the inventories as well. 3. Social Media Manager Here, you will need to promote the products and offers of the brand with the help of social media platforms. Furthermore, you will also be responsible for organizing campaigns, developing campaigns, and messaging people. 4. Finance Manager You will be concerned about the finance of the business if you work as a finance manager. You will need to make financial reports, create financial strategies, and monitor investment activities. In addition, you will be in charge of managing the company's revenue and expenses. 5. Product Designer If you are a product designer, you will have a lot of demand in the industry. The average salary of product designers is $100K. You will also need to monitor the entire designing process of the consumer durable products that the company you are working for. To design products, you will have to work with product managers and engineers. Best Paying Jobs In Consumer Durables- Scale Of Payment The different jobs in consumer durables have different salaries since the responsibilities of the jobs are different in every case. A job in the industry will allow you to work in the area of your interest. Whether you are interested in household durability or you have more knowledge of technology and electronic appliances, you will still get decent pay if you have good knowledge of the sector that you are working in. As a starter, you will get a decent pay of about $15,000. This is a great number for someone who is starting out in the consumer durables industry. As you rise through the ladder in the industry, once you become a marketing manager, you will be able to earn $143K on average. However, a business analyst in the industry earns an average salary of $78K in the USA. Summing Up In the field of consumer durables, you will be able to come across a wide range of opportunities, in addition to a large number of benefits. The reason behind this fact is that consumer durable products are available everywhere, and also, they are always in high demand. Apart from that, these products are easy to use and also have a high cost, which enables companies and workers to make a good profit. Read Also: Is Investment Managers A Good Career Path Is Finance Consumer Services A Good Career Path? How Many Jobs Are Available In Consumer Services?

Let’s Make a Deal: Learn How to Become a Stockbroker