Introduction
Stock brokers are professionals who are trained to transact in a stock market. A stock market is basically a market where trading of stocks such as shares is done. The stock brokers are responsible for buying and selling stocks to the interested customers and on behalf of their clients within the stock market. The purchasing of these stocks normally depends on the market trends and thus the orders that are placed by the buyers and sellers within the market. The profession is generally very interesting and has a lot of pride in it and any one pursing such a career will need to have developed a lot of interest within the field (Edwin, p17). The job is quite demanding especially when one gets to the senior level since one will have to manage the stocks of their clients. The task of managing the investments of other individuals is very sensitive and needs a lot of care since you are transacting investments of behalf of other individuals. The stock brokers have the responsibility of deciding which investment stocks are profitable for their clients.
Educational Qualification
Being a stock broker requires various qualifications and experience within the field. Of all the qualifications the first qualification is developing adequate interest of working within the field. The most important of all is having the educational qualifications that are fit for the market. That is obtaining a first degree that is conversant within the field such as a degree that is business related. The degree that is normally considered fit for the field must be a business and mathematics related degree. Right away from high school, the candidate to the field must be a performer in mathematics. Other subjects that one must take great interest in are economics and statistics. Stock broking is usually used as an indicator of the performance of the economy. It is therefore very important for individuals with interest in the field to have a back ground of economics and the market players. Having a master’s degree in this field is of great advantage to individuals planning to be stock brokers (Andrew, p29). Another important subject that one must pursue is statistics which is also a mathematics related subject but in an advanced level. This means that one must have great interest in calculations since the field involves a lot of calculations.
Practical experience
Another important step for qualifying in the field is having good training. The stock broking firms will normally hire the graduates who are bright and have enough interest to be trained in the field. Securing a job in such firms is very important since it helps the individuals to acquire enough experience of practicing in the field. Training helps the individuals get first hand practical experience of practicing as stock brokers in the field. Such training jobs are also useful avenues of getting hired as a stock broker in such firms. After training such firms are most likely to hire the individuals they have trained themselves than hiring from other firms. The experience that is gained during training is very important as it introduces the individuals to the market and they learn how to practically transact stocks within the market (Adrew, p22). Experience is actually considered very important as much as one is having the knowledge from class. It is therefore very important for the candidates to ensure that their educational achievements are matched with practical experience to be able to successfully secure a job within the field.
State Examinations
To be fully trained as a stock broker in the United States, one has to undertake certain examinations in order to obtain a legal license of practicing the career. These examinations are usually organized by the National Association of Securities Dealers. One of the examinations that are considered very important is the General Securities Registered Representative Examination. Other examinations that are usually undertaken to qualify in this field include the Uniform Investment Adviser Law Examination and Uniform Securities Agents State law Examination. It is very important for any one planning to practice being a stock broker to pass these examinations since it helps one to obtain a license to practice (Josh, p24).
Personal Skills
Amongst all other qualifications required in the field, personal skills enhance ones ability to be really successful as a stock broker. Above all, good communication skills are very important since one will need to be very convincing when dealing with the clients. Good communication is what holds the relations ships of the stock brokers and their clients. It is also very important since the stock brokers will need to be much updated about the happenings and the events taking place in the market. The profession basically involves a lot of communication between the sellers and buyers within the stock market and individuals who are shy cannot make into this kind of career. Other personal qualities include being a very hardworking person who can work under minimum supervision. The individual must be very committed to the interests of the clients and being a performer is the only way to succeed in the career. It is also important for the stock broker to be a good team player since this will help one to have good information on the market (Edwin, p31).
Conclusion
In conclusion, being a stock broker takes a lot of personal initiative to make it to the top career. The job is based on performance and one needs to be very hard working. It is therefore exclusively important to have the adequate knowledge required in the field and to meet all the other requirements required to practice in any state (Josh, p27). Stock brokers should however be very careful and on the look out since losing their jobs is very easy especially if the firms they are working for cannot satisfy their clients. The success and the security of the stock broker’s job is basically reliant on the performance. The profession is though very interesting and has very good returns.
Works Cited
Andrew A. Lanyi. Confessions of a Stockbroker. Prentice Hall Press, 1992, p23-36.
Edwin Lefèvre. A career as a Stock Operator. Wiley, 2006, p12-29.
Josh Lukeman. Working in the stock market. McGraw-Hill, 2004, p16-32.