Essay on "Stock Broker Career"

/>

There are four main types of stock brokers: stock brokers or account executives, institutional stock brokers, financial planners, and financial services sales representatives. Stock brokers or account executives outline the specific advantages and disadvantages of investments to their clients. They can buy and sell options, futures, stocks, and bonds, as well as other financial products, and supply price quotes and information. Institutional stock brokers generally concentrate on a specific financial product like options stocks, or bonds. They generally work with corporations, or large businesses. Financial services sales representatives work through banks and sell services like lines of credit and financial planning. Often, the financial products they provide are limited. Financial planners are the most independent of all stock brokers, and often do not work in offices. Their services include mutual funds, life insurance, estate planning, and insurance (FastWeb).

A number of specific personality traits and skills are helpful in a career as a stock broker. These include sales ability, communication skills, self-confidence, appearance, and a strong desire to succeed in the field (Hobsons College View). Further, business sense, mathematical ability, curiosity, imagination, and analytical skills are helpful (Sify.com).

The potential financial rewards of a career as a stock broker are significant. Starting salaries as a stock broker are often low, with an average starting salary out of $17,000. The average salary after five years in the profession is $30,000. However the average salary after 10 to 15 years is $65,000 (Princeton Review). However, successful and established brokers can earn upwards of $145,000. Most income comes from sales commissions, with a minimal base salary (FastWeb).

A career as a stock broker generally requires postsecondary education, although some stock brokers do not have degrees (Princeton… READ MORE