I want to be a Stock Broker when I grow up& I also want a Degree. A major in what would help? What classes?

Question

Help?

Answer 1

Marketing or liberal arts, like psychology or philosophy.

Answer 2

Your best bet is a degree in finance or economics.  Second to those would be a bachelors in business administration.  Obviously, load up on classes in finance, investments, etc.

Answer 3

You should get your degree - absolutely in something, but it does not have anything to do with a brokerage house.

Your SS7 is what you need.  This is an almost guarantee ticket.  All you have to do is study.  

However the more specialized you are the More marketable you become.  For example a CPA with SS7, an attorney with SS7

Answer 4

In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker.  

Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement.

Bank broker/dealers usually want all the sales reps to be college graduates.

Your college major is not important, (No courses in the Academic world prepares you to be a broker).  But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics,

You should be good at math and have a decent idea about the stock market.

You should be good at selling, and it would help if you have an outgoing personality.

So if you‘re good at sales, or have a good sales background in place of a college degree, you’re part way there.

Try to get with any major brokerage firm they will put you through an in-house training program, which is primarily getting you ready to take the necessary test for licenses. You will need a Series 7 which is a General Securities Brokers test, and a Series 6 which is just for state approvals.

Most brokerage firms, except bank B/Ds, will put you on salary and once you have passed the test, they will slowly take you off salary and put you on commission basis pay out. Banks will usually keep you on salary.

If you have your choice, you’re always better going to work for a regular B/D rather than a bank - You will learn, faster, better and the proper way of how the industry works. As a broker for a B/D you can always find another B/D that will hire you or at the worse, you can always work for a bank.

But if you’re Bank B/D trained and licensed, it’s very difficult to go work for a regular B/D

Good luck, go try it, you may like it

Answer 5

A bachelor's degree is desirable for a career in finance. However, the major is not critical. I know a very successful broker at Merrill Lynch who was a music major! (I'm a journalist who has covered the brokerage industry for years.)

Economics will obviously be helpful. But many stockbrokers also work with the public, so it's helpful to have good people skills as well.

The training you need to be a successful broker can come later, so I wouldn't necessarily overplan right now. A classmate of mine in college thought the same you did--but became so entranced in economics he ended up getting an MA in econ afterward and working for an international bank. Keep an open mind. Meanwhile, you can find books in the library or bookstore about the brokerage world.

With very little money, you can buy a couple of shares of a favorite company (with your parents' help and permission). You can track and trade online in a small way to give you a taste of what it's like.