Requirements to Become...
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What are the Requirements to Become a Stock Broker?

What It Takes to Become a Stock Broker

If you have a talent for salesmanship and would like to tackle a career that offers fast-paced action in a high-pressure, big rewards environment, you may want consider getting a job as a stock broker. Each day, billions of dollars change hands as securities--stocks, bonds, mutual funds, and other financial instruments--are bought and sold. According to the Bureau of Labor Statistics (BLS), about half of American households own stock, and stock brokers act as liaisons between everyday investors and the U.S. Stock Exchange. Working aggressively to build a customer base, stock brokers buy and sell securities for retail investors, charging a fee for each service.

Requirements to Become a Broker

Although stock brokers are expected to enjoy excellent job prospects in the coming years, this remains an extremely competitive profession. A strong desire to succeed, coupled with completion of the following steps, can go a long way in making you more attractive to prospective employers:
  • Earn a bachelor's degree. Foremost among the requirements to become a stock broker is a college degree, preferably in business, finance, accounting, or economics.
  • Complete an internship. The BLS notes that many firms hire summer interns during their junior year, and the most successful are often taken on full time.
  • Acquire a license. After having been employed by a firm for at least four months, stock brokers must register as representatives with the Financial Industry Regulatory Authority, a process that entails passing a six hour exam.
  • Many stock brokers elect to earn master's degrees in business administration (MBA), which provides opportunities for higher-level positions, better compensation, and sometimes large signing bonuses.


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