Requirements for a Licensed Stock Broker: Education and Career Info

A stock broker is a securities sales agent who acts as a liaison between the stock market and individual investors. Stock brokers are licensed professionals who advise clients and manage client investments. Stock brokers perform such tasks as purchasing and selling stocks, bonds and other securities.

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Educational Requirements

Students interested in becoming stock brokers typically pursue undergraduate degrees in business administration, with an emphasis in economics, finance or accounting. While it may be possible to find an entry-level stock broker position with a bachelor's degree, top positions usually go to candidates holding an MBA or other master's degree in a related financial field.

Many brokerage firms provide new stock brokers with additional job training which includes detailed information on the firm's products and services, securities analysis, communication skills and effective selling. New employees may work as trainees or interns for up to six months as they finesse their skills and build a client base.

Career Information

To attain licensing, stock brokers must first pass the National Association of Securities Dealers' General Securities Registered Representative (Series 7) exam. Most states also require that candidates also successfully complete the Uniform Securities Agents State Law (Series 63) Examination or the Uniform Investment Advisor Law (Series 65) Exam.

Licensed brokers working for financial firms are required to register with the Financial Industry Regulatory Authority after a having worked for a period of four months. To maintain this license, brokers may be required to complete a certain number of continuing education classes each year in regulatory issues, new securities products and client services. Brokers may also obtain additional licenses which enable them to sell varied investment products and financial services.

According to the U.S. Bureau of Labor Statistics (BLS), employment for securities, commodities and financial services sales agents was projected to rise at a rate of 15% from 2010-2020, which is average compared to other job sectors. The number of candidates for stock broker positions is expected to exceed the jobs available, resulting in sharp competition.

The BLS also reported that securities, commodities and financial services sales agents earned an average of $100,910 as of 2012. Those who worked for petroleum and petroleum products merchant wholesalers earned the highest wages, with average salaries of $167,000.

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