If i want to be a stock broker what should i major in in college??

Question

i want to be a stock broker so i was wondering what i should major in at college and if you have any other useful information please add that... thanks

Answer 1

Get a finance major.  The classes will teach you many formulas companies use to determine where they are financially.  These classes will also give you theory of how business works.

After you are done with your major you'll need to past several tests (series 7 for example) before you can be a stock broker.

Answer 2

Economics, business, and accounting.  Calculus through differential equations (you'll need it to understand option evaluation).

Answer 3

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.

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

If you are serious about becoming a stock broker or working in any position in the financial area and since there are no academic courses that will prepare you to be a stock broker or many other positions in the industry get into the habit of making daily visits to some websites like MSN Money (http://moneycentral.msn.com/home.asp and Yahoo Finance.  http://finance.yahoo.com/ )

While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why.  This site has some basic information for beginners.

Other website that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/  Stock Charts - http://stockcharts.com/

http://www.investorshub.com/  http://www.1source4stocks.com/



Visit some of the more professional websites like Zacks - http://www.zacks.com/ Smart Money - http://www.smartmoney.com/  Schaeffer’s – http://www.schaeffersresearch.com/

Some of these web sites will have advertisers who are worth looking into also.  And remember, if they offer free information, get it.

Good luck, go try it, you may like it