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Stockbroker

The role

Stockbrokers manage investments for their individual or business clients, securing the best returns for them by buying and selling stocks, shares and other financial products.

 

How to become a stockbroker

It is possible to become a trainee stockbroker, after gaining experience

as an investment administrator or investment analyst, but most

employers  expect aspiring stockbrokers to have a good degree (a 2.1

or above), ideally in economics, business, finance or accountancy.

Those without a business-related degree need to show employers that

they understand how financial markets work. This understanding can be

gained through work experience in an investment bank or stockbroking

firm. Increasingly, employers are looking for stockbrokers with postgraduate

qualifications such as an MSc or MBA.

 

Skills and knowledge required

Employers need to fill vacancies with people who

possess:

 

  •   the ability to understand and analyse complex information
  •   good communication skills
  •   good mathematical and IT skills
  •   confidence and decision-making ability
  •   calmness under pressure
  •   the ability to work well alone and in a team
  •   an honest and a trustworthy attitude

 

Earnings

Starting salaries range from £24,000 to £35,000, but with experience stockbrokers can earn between

£45,000 and £80,000. Some stockbrokers earn over £150,000 a year. In addition to a basic salary, stockbrokers can earn bonuses based on personal or company performance.

 

The hours

Working hours are long. Many stockbrokers work from 7am until 6pm.

Working hours are even longer for stockbrokers who work in

commodities or Far East markets, as international time differences

have to be taken into account.

 

Useful websites

www.ft.com               (Financial Times)

www.fssc.org.uk        (Financial Skills Partnership)

www.cfauk.org          ( Professional body for stockbrokers)

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