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Be a Stockbroker
So you think you might want to become a stockbroker?
Brokerage firms that pay their brokers mostly on commission are always hiring.
Perhaps the most popular area of the investment industry is that of a stockbroker. Although some of you might think that breaking into the business is difficult, but it actually is pretty easy. That of course depends somewhat on where you would be willing to work and what you would be dealing in. If you are a young person out of high school or college and can accept less guaranteed money for the potential to make a lot, then the options are limitless. Unlimited income and freedom to control your destiny.
Sound to good to be true? Maybe, but the fact is many people have changed their lives by becoming a Stockbroker or any Investment Professional. Brokerage firms that pay their brokers mostly on commission are always hiring. The idea that an unlicensed or inexperienced person will not be able to find a lot of openings is false. The risk that a stock brokerage firm takes when hiring new brokers in minimal.
A stock firm does not pay much in salary. $250-$500 weekly during training is the average. So, if a firm hires someone at $350 a week, the upside to the firm is high. You have to consider the initial loss of income when entering this business. If you are 20 years old, you might not consider that pay in the beginning as that low. Older workers with more personal and financial responsibilities have to consider it a little more.
Finding a job with a firm in this industry is different from others. Your choices are broad and the way you go about it can enhance your chances. Don't just look for job ads in the newspaper or the Internet. Call up the firms themselves and inquire about openings even if they are not advertising. Look in your local phone book and call them. You may have an office of a terrific firm in your town that might hire you. Do not ask the receptionist if they are hiring. Ask to speak to the Sales Manager in particular. The Sales Manager of a firm is paid largely on the production of the brokers he's managing. So, if you sound eager enough and come across well on the phone, I guarantee he will at least take your name and give it consideration if not bring you in that same day!
The Series 7 and the Series 63 licenses will be required before you can begin working with customers. Your firm will sponsor you for those exams. Other licenses may be needed depending on the firm and the securities they deal in.
Not an easy job for sure. It will take long hours, the ability and willingness to cold call effectively, and the drive to be the best. Only then, will you earn your worth.
Nick Hunter is the President of American Investment Training, Inc. (AIT) http://www.aitraining.com He has personally taught thousands of students in the securities industry for over 15 years. His company offers home study courses for people looking to get licensed in the investment field. For Stockbroker Jobs visit www.brokerjobs.com
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