If you ever wanted to have a desirable job, full of spontaneous decision and money moves, this article is what you need. Broker is a complete job and an amazing experience to have in a lifetime.
Being a stock broker is difficult and very unstable, you need to have a great control of yourself and to be confident with your decision.
Stock Brokers basically do everything for their clients to get more money. Indeed, stock broker manage their clients money to maximize financial gains by trading and evaluating the market.
Something special about this job, is that there are no typical days, and more especially, no days that look alike. However, there are some typical activities or work that are the base of the job. For example, stock brokers analyses tax and new laws that can affect their client profits and gains. Otherwise, if they are not informed on a daily basis of what's new in the trading world, the portfolios of their clients can be affected. They also search for new clients on a daily basis to grow their commission and incomes, while growing their reputation.
Stock brokers can work from many places. The only thing they need is a computer and a table when they talk with a client. In addition, stock brokers are often moving from place to place to assist to some network events, launching of new company and stock-teaching event. The spontaneity of this job is pretty impressive and can often lead people to pursue their study in economy.
The typical path to become a stock broker is to get a Financial Industry Regulatory Authority (FINRA) license. This license is obtainable by doing exams and a bachelor degree.
With an average of more than 83 thousand dollars annually (CAD), stock brokers can do an excellent annual revenue when they gain experience and establish a useful network of links to get new and better clients for a better commission per trade.
To stay up-to-date with new laws and new company to invest, stock brokers assist multiple events every year. Also, if a stock broker wants to pursue bigger dream for a better dream, they can study and earn a Master of Business Administration (MBA), which is a superior degree.
Being a stock broker is a rewarding career, but it is also a very unstable and can also be risky. In fact, their salary and the amount of advantages they get every year depends almost entirely on their skills and their results (profits) they make for their clients. For example, if they have a bad month or year, they are going to lose clients and/or commission, which will be not covered by an insurance or their company. This job is also really demanding since they have to be informed on a daily basis, so it often leads to some burnouts or else.
The job of a stock broker is to analyse graphics and tendencies to maximize profits for their clients. Unfortunately, robots are already able to calculate and make prediction for future trading, so it won't be a surprise if robot start to replace stock brokers in the next 25 years. However, the social and human part of giving advice to clients and helping them to make a choice won't be possible to effectuate for a robot.
Even though it's all depending on the time you take to build your empire of connection and clients, some stop practicing at 40 if they are rich and successful enough. However, some of them never stop, like warren buffet, a successful broker who is also the 6th richest man on earth, but on average, stock brokers stop around 50 to 60 years due to the stress and anxiety this career occurs. This career will also have make you a richer man since you will know how to manage your money properly and what to invest in.
As you can see, this career is a challenging but rewarding one. My goal is to get my superior degree (MBA) and to have for clients many influential clients to build myself an empire and become the most successful and rich in Canada.
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