Companies and individuals rely on stock brokers to maximize their investment returns effectively. Brokers meet with clients, discuss available services and then make recommendations on stocks, bonds and other security investments. They also monitor the growth of clients' investments and make changes to boost their returns. If you want to be a stock broker, you probably need a bachelor's degree before getting accepted into an employer's training program.
Most of their earnings come from commissions and bonuses, which are based on the number of securities they sell. Like most stock brokers, plan on obtaining a bachelor's degree in business or finance. A stock broker's monthly income can vary significantly by state. Gaining experience in the industry is the best way to increase your monthly earnings as a stock broker. You will have better technical and fundamental analysis skills to predict trends for various stocks and mutual funds.
Technical analysis includes reading and understanding stock charts displaying current prices and earnings per share. Technical analysis is your ability to understand corporate financial statements, which can help you select stocks that are most likely to earn clients money.
Jobs for securities, commodities and financial services agents, including stock brokers, are expected to increase 15 percent from by , according to the BLS, which is about average for all occupations. The emergence of more online stock trading companies is one reason job growth for stock brokers will be just average.
But the advantage of having a stock broker is their ability to select the most profitable portfolios of stocks and mutual funds for clients -- something online stock trading usually can't offer.
Therefore, to be a broker, get a bachelor's degree, select a brokerage firm that has a high success rate with investments, and put yourself in the best position to succeed. This article was written by the CareerTrend team, copy edited and fact checked through a multi-point auditing system, in efforts to ensure our readers only receive the best information.
To submit your questions or ideas, or to simply learn more about CareerTrend, contact us. Income and Benefits The U. Income by State A stock broker's monthly income can vary significantly by state. Contributing Factors Gaining experience in the industry is the best way to increase your monthly earnings as a stock broker.
Job Outlook Jobs for securities, commodities and financial services agents, including stock brokers, are expected to increase 15 percent from by , according to the BLS, which is about average for all occupations.
Bureau of Labor Statistics: Resources Financial Industry Regulatory Authority: Commodity Trader Base Salary. Professional Licenses and Exams.More...