Stockbrokers.. know anything about them ? ?

Question

like.. around how much they make the first year.. (Merrill Lynch)

what are the chances of a female becoming a stockbroker..

what courses do you need to take in college to prepare for such thing..

what kind of attitude do you need to have..

etc.

Answer 1

They are all commission sales people. I had a series 3 for a year with all my insurance license. Type A personality and self esteem out the wazooo.

If you have never owned your own business or worked 3 jobs its not what you think. Burn out rate is 50% for first year brokers. Females have a better chance if you are attractive. Yes I know how it sounds, but women make the best sales people because people trust you more than guy salesman.

Get a Bachelors in Business Finance. Gung Ho people and NOT shy is who you have to be. Its very tough but rewarding if you make it. Get your degree first and then whatever happens doesn't matter after you have the degree.

Answer 2

brokers are used car salesmen.  they just have a better diploma.

i would suggest that you read either a vault or wetfeet guide - either will give you a ton of info like this, and much more.  it's definitely worth checking to see if your school library has a subscription, and is worth shelling out the $20 even if they don't.

Answer 3

There are many female stockbrokers. No specific major is required in college, but courses in economics, accounting, investing and business basics are good to have.

Besides that, you'll need to keep up with current events, as everything that happens in this world affects the markets. Try reading the Wall Street Journal for a while to see the investment spin on every piece of news. (It's surprisingly readable - take a look at a copy. No need to wait.)

A very good way to prepare is to read a few books on basic investing, then pick some stocks and keep track of them. Watch as they go up and down, and read the analysts' explanations of why each change happens. If you keep up with the markets, you'll have years of experience with them by the time your graduate, which would give you a nice edge.

Stockbrokers are basically salespeople. Each brokerage house is different in how they're run, so some stockbrokers have a base salary and earn commission based on their stock sales, while others work on commission alone. Entry level base salaries are around $40,000 - $45,000. First year commissions could double or even triple that.

They spend most of their time reviewing the news, in-house analysts' reports and on the phone doing stock transactions. First year people spend a lot of time making cold calls, building up their customer base.

Attitude: There are probably differences depending on the brokerage's style, but the main attitudes you'll need are can-do, want to help your clients propsper. In some places, an aggressive attitude is good; other value reserve and restraint. You'll also need a good head for numbers, a good memory, good people skills, especially salesmanship, analytical skills, stamina (because you may work long hours).