Making Your Way Into Stockbroking As A Career For Women
Stock brokers help their clients in buying selling the best stocks at a strategic time. They analyze the different kinds of investments, and tailor it to sync with their clients’ requirements.
They mostly give financial advice to their clients and the better their advice, the better is the profit for their individual clients. Women as stock brokers are mostly paid through commissions, the more trades they make, the better it is for them.
The job requires them to closely monitor the stock markets and manage their clients’ money as the job can be daunting and time-consuming. However, many women from around the world do it quite successfully.
Stockbrokers are Fully Engaged in Helping Their Client Succeed
The primary job of a stock broker is to regularly look out for new clients and have a thorough understanding of the markets, so that they end up giving top-notch investment advice to their clients. They should be analytical and have a proper understanding of the different commodities and securities, each depending on their different specializations.
These brokers should also be able to analyze the financial reports of a company and provide timely recommendations to their clients. Certain stock brokers may not directly work with the clients, and rather choose a trading floor as their platform for buying and selling stocks according to the orders placed by the traders.
Again, there are other stock brokers who might concentrate more on giving proper investment advice to their clients in order to help them achieve their respective financial goals.
How to Make Way to this Profession?
Although being a stock broker does not require any conventional educational qualification for women, you must have a bachelor’s degree to start with. You don’t really have to major in a specific field, but having a degree in the field of business or finance is highly recommended.
Most of the women stock brokers have a degree in accounting, finance, business studies and even economics. You can even take additional classes in mathematics, logical reasoning, statistics or even quantitative analysis.
Right after completing your degree, you will need to pursue an internship in a brokerage firm or an investment bank. Most of these firms hire a large number of summer interns for working at their agencies.
Depending on the agency you opt for, these short internships can lead to extended sessions of job interviews where the successful summer interns will have a major advantage while applying to these agencies for the positions open for post-graduate employment. This is an excellent way to receive the kind of intensive training that most of the big firms require.
Proper Training is Critical to Success
After completing your internship, you will have to find a proper sponsor who will help you take the necessary exams for licensing. In most cases, if you are willing to appear for the exams required for being a licensed stock broker, you will have to be sponsored by a firm which is registered under the Financial Industry Regulatory Authority.
You will find many big firms that have a regulatory authority along with this license. In most cases, this would mean that you are getting hired by a firm for brokerage or an investment bank before you get licensed.
Brokers who are registered with the Financial Industry Regulatory authority should also continue with their education in order to keep their license current and up to date.
The last step to be a stockbroker would be to appear and qualify for the licensing examinations. In most cases, almost all the states require their stock brokers to appear and qualify for the Series 7 and Series 63 of examinations.
While series 7 examinations covers every possible financial topic associated with trading and the different kinds of securities, the series 63 will also concentrate on the trading of the securities.
However, this exam focuses more on the rules and laws of the state. You might even have to appear for additional licensing examinations depending on the firm you choose.
Certain stock brokers might even opt for pursuing different certifications, which although not required, are extremely essential for enhancing the earnings and professional standings of a broker. There are also several online degrees in this regard that helps women to strengthen your base and position as a successful stock broker.
Well, now that you have a complete insight on being a women stockbroker and how to make your way in being a successful stock broker, you can also visit CMC markets for a better understanding on this subject. This website will answer all your queries and doubts regarding stock brokerage and finance.
Category: Career
