If you’re considering a career on Wall St., you should first understand the full extent of what you are considering. It isn’t an easy career path to conquer. If you’ve seen The Pursuit Of Happiness, then you know just how extreme the journey can be. If you are focused and well poised on your mission, you can do anything. To help you out a bit, here is a quick summary of a few things and steps you might prepare to encounter along the way.
Scoop up the proper education
The proper education along the way is paramount to your success as a stockbroker. The first step you can take towards working on the New York Stock Exchange is to obtain a degree in something like finance, accounting, business, or economics. A four year degree is commonly prefered by most employers. While you’re in school, you should consider joining as many business and finance related clubs as you possibly can. This will only boost your competency level on paper for future employers.
Gain experience in the proper avenues
This is something you can actually begin to tackle while you are still in school. Grab up as many internships and volunteer opportunities in your field as you possibly can. This will help expand your practical knowledge of your future career. Employers love having the comfort of knowing that you are familiar with the hands on experiences of the market. You will also be required to obtain a sponsorship. You will need to complete at least four months working with your sponsor before you will be eligible for the proper licensure and certifications.
Licensure and certifications required
Every single broker and trader in the United States is required to have certain licensure and certification. In most places, you will be required to pass two examinations: the series 7 and series 63. The first test is about six hours long and it’s main purpose is to test your general knowledge of the field. The second test isn’t quite as long, and it covers transaction laws and specific business practices. Sometimes you will be required to obtain more certifications, but these two examinations are required in every state.
Getting the job you want
Getting your dream job doesn’t start the day you begin your job search. It begins much earlier than that. You should begin building your reputation in your local network of brokers from day one. While you’re in school… network! While you’re on the town… network! Build relationships with people in your trade. Those relationships could become quite pivotal when you are certified and ready to join the workforce. If you know the right people, it won’t be hard to find your place.