So, you have a good degree in business, science or maths related subject, and you want to get rich; preferably, filthy rich. I’m not going to say there aren’t other options, even more realistic options, but stock trading is one of them.
The potential rewards are eye-popping. Starting on a salary in the region of thirty-thousand pounds, an experienced, successful stockbroker can quickly be earning six figures every year and happily looking forward to retiring to the Bahamas around the age of forty.
Fabulous! Who wouldn’t want a job like that? Well, anybody who doesn’t have nerves of tempered steel, for a start. The hours are grueling and the pressures intense. Losing money over prolonged periods is a test of character integral to the job – in fact, the first big losing streak convinces a lot of new recruits that the job is not for them.
Nonetheless, stock broking firms like CMC Markets rarely have to advertise their vacancies, inundated as they are with speculative applications. Networking is another way in – ask your university if they hold the contact details of former graduates who work in stockbroking.
In addition to a good degree, you will need to demonstrate a strong interest in current affairs, since geopolitical and economic events can affect stock prices within a few minutes. A foreign language will probably be useful. Some relevant experience through vacation work or an internship will do no harm, but be warned that a lot of stock traders were made redundant in 2008, so you will be competing with a lot of people much more experienced than you can hope to be.
Excellent communication skills, strong numeracy, personal integrity and a willingness to take responsibility are other qualities you will need to demonstrate. Decisiveness under pressure, mental stamina, an entrepreneurial flair, and a strong work ethic are other key components of the job.
The profession is heavily dominated by men – women stockbrokers do exist but are few and far between. It is capitalism at its roughest. Those who fail to make money quickly fall by the wayside. Those who are skilled, persistent and lucky enough to succeed can look forward to a lifestyle of much comfort.
Stock Broking – Viable Solution For Personal and Financial Fulfillment.
Many people love challenges, adventure, and fun and desire a career of same sorts which is a perfect amalgam of the same and provides financial as well as personal fulfillment. One of the most thriving and exciting career nowadays which offers all of the above features in stock broking. In this thriving environment of the stock market, this fast paced and lucrative industry is a dream career for many. A stock broker acts as an intermediary between small investors and the stock exchanges. Their main work is to buy and sell the stocks for their esteemed clients, and in return, they get paid a commission based on the businesses they can lure in. Today the brokers also work as a financial advisor and guide their financial client budget and financial future.
The roads towards learning and success can be tedious and full of risks and challenges, but it’s well within reach and you can end up gaining a lot of money and adding a substantial amount of money to your bank account. Anyone who is interested, competitive, love challenge, have a requisite grasps on the subjects and have a strong sense of the business world can become a stockbroker. Be it a high school pass out to a Cambridge graduate, anyone and everyone can become a stockbroker.
But if you desire a stockbroker employment you must first finish your college degree due to the complex nature of the job and the larger grasp of the economy that is needed for making technical and commercial financial analyses. The brokerage firm gives priority to those people who have a degree in economics, finances or in business management.
As a potential stock broker it’s also imperative for you to do a little research, explore, learn about the intricacies of the stock market and have proper information about the average stockbroker payout. It’s the amount of money that you can make including your salary and the commission. Choosing the appropriate brokerage firm to work with is vital as you can learn all the intricacies of the business and they also teach you the ways to become observant and the minutest details to figure out and give importance to.
One should always remember that the world of the stock market is never stagnant and keep on changing and can even shock or surprise the most seasoned brokers and investors. Therefore, before choosing to enter this dynamic world of stock market, learn its intricacies, prepare yourself and take the next step towards success.