A career in the stock market may not be the highest paying job in the world, but is surely one of the most compensating business careers. Becoming a stockbroker is not an easy career path, but is a challenging one. With the grueling series of training and examinations that are required, many are discouraged to fulfill a career in the stockbroker industry. But for those who have the energy and drive, the salary and a prospect of a brighter future is enough to lure them in.
Before you can start reaping the benefits as an aspiring stockbroker, you should start training and study under a brokerage firm for at least four months. After this, you can qualify to take and pass two examinations. Passing both examinations will award you the stockbroker license. This license will move you up the career ladder as a stockbroker trainee.
Once you have become a stockbroker trainee, you can then start getting the benefits. New stockbroker trainees or licensed stockbrokers can start receiving training allowance of around $250 to $750 a week. In the United States, the average starting salary for a stockbroker trainee is around $17,000. After five years of working in the industry, you can then expect to get a salary of $30,000 to $49,000, and it may even be around $60,000 or higher.
The salary, however, is not your only source of income as a stockbroker trainee. You can earn more money through commission in selling stocks. Most stock firms pay around 50 percent or more for the broker’s sale of the stocks. Thus, the more stocks you sell, the more money you can make as a stockbroker.
Larger stockbrokerage firms, however, provide more guaranteed salary, but are more specific in who they hire. New trainees and employees would have to work for at least six months to about a year to start expecting a bigger salary.
Your Popup Blocker Must Be Off