Career Profile: Securities Trader
Why Is Security Sales a Job of Tomorrow?
Security sales agents are needed to help businesses buy and trade stocks to bolster their financial standing. The public also relies on security sales agents to help them actively participate in the bustling financial market. Employment opportunities for security sales agents are expected to increase 25 percent by 2016, according to the Bureau of Labor Statistics. Security sales agents make an average salary of $68,500 annually.
What Does a Securities Sales Agent Do?
Securities sales agents have varying duties based on their specific field. The most common type of sales agent is a stockbroker, who handles deals with the public, known as retail investors. Brokers act as the middlemen between investors and the market. Stockbrokers work with investors, listening to the conditions under which they want to trade, and then communicate those criteria to the company the investor is interested in. For this service, brokers charge a fee to the investor, and can also find additional financial gain in searching for lower prices for the security. Another type of a securities sales agent is an investment banking sales agent. These agents work with businesses that are searching for investors. They sell securities to investors for a commission. There are many additional fields of specialties that securities sales agents can look into, as the financial market is a dynamic environment.
What Kind of Training Do I Need to Become a Securities Sales Agent?
Securities sales agents must have at least a bachelor’s degree in business, finance, economics or another related field of study. A bachelor’s degree takes four years to complete, and courses cover market trends and economic history. Those looking to advance should obtain a master’s degree in business administration after working professionally for several years. Prospective brokers must register with the Financial Industry Regulatory Authority to act as a representative. Most states also require that agents pass the Uniform Securities Agent State Law Examination.