Stock broker pay scale south africa
Stock Broker email it bookmark print it. Most broker positions require at the minimum a bachelor's degree, although very few actually require a specific degree. A college education is important as a potential broker will need a thorough understanding of economic conditions and trends.
Most potential stock brokers get Bachelor degrees in accounting, business, finance or economics. Many brokerage firms offer stock broker pay scale south africa to promising students, who, if successful, have the potential to be offered full-time jobs upon their graduation.
In most cases, getting an MBA Masters in Business Administration is the best course for a potential stock broker, following the completion of a Bachelor's degree. On the job training is also important for a potential stock broker. Most employers offer some form or other of intensive training, including specialized business models, which must be learned, as well as regular rotation among the different departments in a brokerage firm. This is in order to give the potential broker a well-rounded look at the business.
A license may also be required in some states. They may take this test only after they have been employed by stock broker pay scale south africa firm for more than four months. Some states may also require a second examination as well stock broker pay scale south africa the former; the Uniform Securities Agents State Law Examination measures stock broker pay scale south africa potential broker's knowledge of the securities business, the current stock broker pay scale south africa protection requirements and the necessary and required record-keeping procedures.
Luckily, most firms offer the relevant courses to help their employees pass these examinations. Put simply, a stock broker is a certified and regulated professional investments broker. They buy and sell shares and other securities on behalf of various private investors. Stock brokers sell securities to the public, who are referred to as 'investors'. Investors work through a broker rather than trading investments directly. For example, an investor will speak with the stock broker about trading stock broker pay scale south africa investment.
Then the broker will relay the terms of the trade to a trader at the company's headquarters. Investment companies can often find other clients within the company itself who are willing to buy or sell the same security. If not, the stock broker will place an order with a floor broker at an exchange. Sometimes a stock broker will trade the stock on an electronic network through use of the internet and teleconferencing in order to reach potential buyers abroad or in different parts of the country.
The stock broker charges a fee for this service. He may earn a bonus by finding a lower price for the security than the investor stated.
He may also work on commission, which means the more money he earns for a particular investor the more he will be paid in his wages. The most important part of a stock broker's job, however, is undoubtedly the act of finding clients and subsequently building a lasting customer base to work from. After a stock broker has established their stock broker pay scale south africa, referrals from satisfied clients will prove to be an important source of potential new business.
Good personal qualities and people skills are sometimes considered to be more important than high levels of academic training with regard to a potential stock broker. Most employers these days are looking for applicants who have well developed interpersonal skills, an aptitude for teamwork, an excellent work ethic and a burning desire to succeed.
The ability to readily understand and be analytical with numbers is perhaps paramount and certainly important. Stock brokers are often entrusted with great amounts of money and personal information, so most, if not all, employers will take great pains to make sure that applicants have an exemplary credit history and a spotless record in all other respects.
High levels of self-confidence and the stock broker pay scale south africa to be able to handle frequent rejection are important for success as well. Stock brokers must be able to display confidence for their investors so as to garner their complete trust in matters dealing with their money. A good stock broker pay scale south africa and the ability to communicate effectively are important in this regard. The ability to work independently is immensely important for a stock broker.
Many employers often prefer to hire those who have achievements in other professions within the financial industry. Sales experience, particularly the expertise that goes along with working for commission in areas such as real estate or insurance, is a much-looked for element in a potential stock broker. Other firms prefer to employ people straight out of college after a successful internship, with the intention of molding them into their idea of an ideal employee.
Perhaps the most famous stock broker is Christopher Gardner, whose struggle to gain his first position was documented in the film, 'The Pursuit of Happiness'. Martha Stewart worked as stock broker for several years before starting her lifestyle business with the profits. There are a multitude of stock brokerage firms both in the United States and abroad.
New York, due to the Stock Exchange, is probably the leading city in terms of where a potential stock broker would like to be. Other than New York, Huntsville, Alabama is the top ranking metropolitan area in regards to rate of pay according to the Labor Statistics Bureau. Just below it is Rapid City, South Dakota. Third on the list is Bridgeport, Connecticut.
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Largest Companies - Maine There are a number of large companies that call Maine home. Largest Companies in Louisiana There are a number of large companies that call Louisiana home. Unemployment Benefits in Florida Although better than nothing, the amount workers in Florida receives is among the lowest in the nation. Unemployment Benefits Maine Maine tries to give its citizens a helping hand when the economy knocks them down.
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