Comments on: What do i major in in college to become a big time stock broker? http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/ Thu, 17 May 2012 10:38:16 +0000 http://wordpress.org/?v=2.7 hourly 1 By: what? http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/comment-page-1/#comment-762 what? Sat, 11 Apr 2009 04:52:25 +0000 http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/#comment-762 there's no such thing as a "big-time" stock broker (unless you consider there to be "big-time" used car salesmen, i guess). if you want to be big time, you'll want to get into i-banking or sit on a prop desk for a bank/hf. but yea, finance is probably you're best option. there’s no such thing as a “big-time” stock broker (unless you consider there to be “big-time” used car salesmen, i guess).

if you want to be big time, you’ll want to get into i-banking or sit on a prop desk for a bank/hf.

but yea, finance is probably you’re best option.

]]> By: hbgdragon http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/comment-page-1/#comment-761 hbgdragon Fri, 10 Apr 2009 17:50:34 +0000 http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/#comment-761 In all honesty, you don't really even need a college education to be a stockbroker. In fact, most brokers will not want to hire you until you have a few years of work experience, preferably sales. How do I know? I looked at being a stock broker about a year after college, and most turned me down. This was mainly due to my performance on their psych exams and phone call testing. I really had no idea what I was doing. The fact is, being a stock broker is just about sales. If you can sell, then you can be a broker. Now, if your interest is in other areas, such as trading, investment banking, etc., you might consider college. I definitely recommend a major in Finance, and possibly a minor in Economics. An MBA is helpful too. However, some hedge funds actually prefer that you be more of a scientist, such as a physics major or chemistry major. That way you will have a good background in scientific thought. A hedge fund run by Jim Simons, Rennaissance Technologies I believe is the name, only hires scientists with no trading experience to help develop new trading models. Good luck! Scott Cole In all honesty, you don’t really even need a college education to be a stockbroker. In fact, most brokers will not want to hire you until you have a few years of work experience, preferably sales. How do I know? I looked at being a stock broker about a year after college, and most turned me down. This was mainly due to my performance on their psych exams and phone call testing. I really had no idea what I was doing. The fact is, being a stock broker is just about sales. If you can sell, then you can be a broker.

Now, if your interest is in other areas, such as trading, investment banking, etc., you might consider college. I definitely recommend a major in Finance, and possibly a minor in Economics. An MBA is helpful too.

However, some hedge funds actually prefer that you be more of a scientist, such as a physics major or chemistry major. That way you will have a good background in scientific thought. A hedge fund run by Jim Simons, Rennaissance Technologies I believe is the name, only hires scientists with no trading experience to help develop new trading models.

Good luck!

Scott Cole

]]> By: mntndo http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/comment-page-1/#comment-760 mntndo Fri, 10 Apr 2009 05:49:20 +0000 http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/#comment-760 Get a Masters in Business. Get a Masters in Business.

]]> By: henna j http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/comment-page-1/#comment-759 henna j Thu, 09 Apr 2009 08:22:27 +0000 http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/#comment-759 Finance is the best Finance is the best

]]> By: A nobody http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/comment-page-1/#comment-758 A nobody Mon, 06 Apr 2009 07:37:37 +0000 http://www.businessbrokersguide.com/blog/what-do-i-major-in-in-college-to-become-a-big-time-stock-broker/#comment-758 In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker. Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement. Bank broker/dealers usually want all the sales reps to be college graduates. Your college major is not important, (No courses in the Academic world prepares you to be a broker). But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics, You should be good at math and have a decent idea about the stock market. You should be good at selling, and it would help if you have an outgoing personality. So if you‘re good at sales, or have a good sales background in place of a college degree, you’re part way there. Try to get with any major brokerage firm they will put you through an in-house training program, which is primarily getting you ready to take the necessary test for licenses. You will need a Series 7 which is a General Securities Brokers test, and a Series 6 which is just for state approvals. Most brokerage firms, except bank B/Ds, will put you on salary and once you have passed the test, they will slowly take you off salary and put you on commission basis pay out. Banks will usually keep you on salary. If you have your choice, you’re always better going to work for a regular B/D rather than a bank - You will learn, faster, better and the proper way of how the industry works. As a broker for a B/D you can always find another B/D that will hire you or at the worse, you can always work for a bank. But if you’re Bank B/D trained and licensed, it’s very difficult to go work for a regular B/D Good luck, go try it, you may like it In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker.

Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement. Bank broker/dealers usually want all the sales reps to be college graduates.

Your college major is not important, (No courses in the Academic world prepares you to be a broker). But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics,

You should be good at math and have a decent idea about the stock market.
You should be good at selling, and it would help if you have an outgoing personality.
So if you‘re good at sales, or have a good sales background in place of a college degree, you’re part way there.

Try to get with any major brokerage firm they will put you through an in-house training program, which is primarily getting you ready to take the necessary test for licenses. You will need a Series 7 which is a General Securities Brokers test, and a Series 6 which is just for state approvals.

Most brokerage firms, except bank B/Ds, will put you on salary and once you have passed the test, they will slowly take you off salary and put you on commission basis pay out. Banks will usually keep you on salary.

If you have your choice, you’re always better going to work for a regular B/D rather than a bank - You will learn, faster, better and the proper way of how the industry works. As a broker for a B/D you can always find another B/D that will hire you or at the worse, you can always work for a bank.
But if you’re Bank B/D trained and licensed, it’s very difficult to go work for a regular B/D

Good luck, go try it, you may like it

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