It is a sad fact that things do not take shape as you want them to, but you must remain focussed to succeed. First you need to go through gruelling minimum four months training with a stock broking firm.
Then, you need to take the exams for General Securities Registered Representatives examination. In many cases, in certain states you would need to take additional exam for Uniform Securities Agents State Law Examination to successfully register yourself as a stock broker and start dealing in stocks.
Even after passing these exams, you are labelled at trainee only. In most of the firms or investment banks, you are put through a gruelling training session for minimum two years to be labelled as a stock broker and get a broker salary. Thereafter you need to take a look at your career options in the stock exchange.
Many investment firms do not pay brokerage salaries right away. In most of the cases and during the trainee period as well, you are hired on commission basis by the investment banks or stock broking firms. An average pay for a trainee at any stock broking firm is around $250-$500 per week.
It is not true that chances of finding traineeship are slim. On the contrary, the stock broking firms are mostly on a look out for new trainees that can be hired on commission basis. If you are just twenty years old, such a pay is not a bad option although it may be a constraint to older and more experienced professionals.
If you are already working for a stock broking firm but are on a look out for better broker salaries, then do not just depend upon the newspaper advertisements to internet openings. Check out new vacancies with different stock broking firms themselves. Even if they are not advertising, you may never know when you would land up in a good job opening or the stock broking firm might consider you for another stockbroker in their firm looking at your credentials or experience. This would give a chance to bargain for better salary.
If you want yourself to be considered for a better brokerage salary, you need to have a clean records and reputable history of handling client and managing their portfolios. You should also have a good credit history yourself. A good credit history reflects positively on your resume and gives you better chances to bargain for a good respectable salary.
The stockbroker salaries in United States start from $17 000 per year. If you have been working for around five years your salary can shoot up to $30 000 to $49 000 depending upon your performance. Even better ones can bag $60 000 or higher. In UK, the salaries range from 25 000 pounds for a graduate trainee to 100 000 pounds or more.
Bonuses, perks and performance appraisals are independent of the basic salary. They form the part of the package over and above the base stock broker salaries. So all you need to do is to perform well and drive a hard bargain with your employer.
Author Resource:-
Ayna Miah is the author of the popular book "Stock Brokers: Who are they and what do they do". Now he wants to share his money-making industry secrets with you. Discover the insider tips, techniques and secrets that will turn you into a Successful Stock Broker and even if you have no experience whatsoever. Please visit www.aboutstockbrokers.com
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