career of a stock broker

[foolish]

This is my first post on this forum, so I would like to say hi to all of you

I am currently a second year student of Economics at the University of Sussex. I'm aware that time is passing by and I will soon need to think about a proper job. I'm interested in being a stock broker - I even have an account (in Poland) and I try to invest a little in this hard times;D(I mean it's not big money but still...). The problem is that I don't know where to start. I'm aiming at 1st class honours which I think is within my reach. Which exam do I have to take? I heard about SII, IMC but also about CF qualification. I've searched through this forum, but I still don't know which one is the most relevant for me. And even if I do the exams - do I stand any chance of being employed as a trainee stock broker? I don't have any experience. Is internship a good idea? And what kind of money can I expect after say 5-10 years of a stock broker career? Any helpful answer would be appreciated.

PS: Forgive me my English - it's not my first language...

 

[Jack o'Clubs]

As no one else has answered and before I log off...

Yes applying for internships is a good idea, no doing SII type exams is pointless as a firm will put you through those when you need them, and get your applications into all the firms, including the second and third tier ones. If you're second year your timing might be quite good as things might be just pulling themselves out of the mire by then and firms looking to recruit again. Can't be a good time for current final year students looking to join IB's. As to what money you can expect, it depends how good you are. If no good, then you won't be in a job, if very good then millions. But most likely about 75-100k basic with bonus of maybe 1-3x, assuming pure stockbroking and no trading and at a mid-level house.

 

[Intro]

Perhaps a naive question but what exactly do people refer to when they refer to 'stockbroker'? I mean what firms?

Do you count equity sales at an IB under that bracket for example?

 

[fifty2aces]

Perhaps a naive question but what exactly do people refer to when they refer to 'stockbroker'? I mean what firms?

Do you count equity sales at an IB under that bracket for example?

I think a lot of people use it as a catch-all term for jobs in the city - so could mean sales, research, trading, or anything. There seem to be a lot of threads on here where people don't seem to know the difference between brokers and traders.

 

[Intro]

Thanks,

I guess my question really is what is the difference between a stock broker at somewhere like Kiliks or Charles Stanley and being an equity sales person at an IB? One sells to instituioonal investors and the other individuals?

 

[Intro]

A bit of digging revealed that the answer to my above post is....yes

Is there good money in being a stock broker for individuals like this?

 

[majicka]

A bit of digging revealed that the answer to my above post is....yes

Is there good money in being a stock broker for individuals like this?

Like any profession, there is good money to be made in private client stockbroking if you can get to the top. Lower down, salaries aren't that high to be honest when compared to accountants or solicitors for example but it's a fairly interesting job and gives you the possibility of moving into other areas. Also, it's far less stressful, hence the lower remuneration.