What are good degrees to major in if you want to be a stock broker?
I might have worded the question wrong, I don't want to be a stockbroker I just want to have a solid understanding of the stock market and economy. I'm a Biology major but I wouldn't mind getting a minor in something that would help me in the future. I want to learn some practical things regarding finances and such that would help me in the future.
- A nobodyLv 79 years agoFavorite Answer
In the US - You need to be an employee of a Broker/Dealer so they can sponsor you in order to become a licensed stock broker.
Firms usually want college graduates, but it is not really necessary nor really a requirement but many firms like it and make it their requirement. Bank broker/dealers usually want all the sales reps to be college graduates.
Your college major is not important, (No courses in the Academic world prepares you to be a broker). But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics,
You should be good at math and have a decent idea about the stock market.
You should be good at selling, and it would help if you have an outgoing personality. So if you‘re good at sales, or have a good sales background in place of a college degree, you’re part way there.
So there is no need to change your current major. Just do reading on the side to help you understand the basics of economics, and try to read about those that have been successful in the market.
I have met, English, chemistry and computer science majors who have become successful stock brokers
Try to get with any major brokerage firm they will put you through an in-house training program, which is primarily getting you ready to take the necessary test for licenses. You will need a Series 7 which is a General Securities Brokers test, and a Series 6 which is just for state approvals.
Most brokerage firms, except bank B/Ds, will put you on salary and once you have passed the test, they will slowly take you off salary and put you on commission basis pay out. Banks will usually keep you on salary.
If you have your choice, you’re always better going to work for a regular B/D rather than a bank - You will learn, faster, better and the proper way of how the industry works. As a broker for a B/D you can always find another B/D that will hire you or at the worse, you can always work for a bank.
But if you’re Bank B/D trained and licensed, it’s very difficult to go work for a regular B/D
Good luck, go try it, you may likeSource(s): from the street
- Anonymous9 years ago
Business, Accounting, Economics, Finance.... but you can also become a broker without a degree, it depends more on the person and his qualities than just a degree itself. Good luck!
- MARKLv 79 years ago
Finance or Economics (those are 2 separate possible minors) You could minor in one of those. Good luck!
- 9 years ago
Ditto on above. Or accounting. Or computer tech. My daughter got a degree in biology, and she does computer work for biotech companies. Biology and computer science is a good pairing.
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- JayeLv 44 years ago
i would think finance and or business.