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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
- 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
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.
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.
www.ft.com (Financial Times)
www.fssc.org.uk (Financial Skills Partnership)
www.cfauk.org ( Professional body for stockbrokers)