‘With an evening coat and a white tie, anybody, even a stockbroker, can gain a reputation for being civilized’.

Oscar Wilde.

A stockbroker is someone who sells and buys shares on behalf of a client, with the aim of getting the best possible return in the process.

It is understandable why in times of austerity and recession the earning power of successful stockbrokers can seem excessive and in some cases obscene. However, the prospect of making an obscene amount of money has always held a certain appeal to me. If like me, making a grotesquely filthy amount of money is something that is an attractive option, then you may wish to consider a career as a stockbroker. Anyone who has suffered a degree of poverty will understand the appeal.

So how do you get started as a stockbroker?

1.     Opportunity Doesn’t Knock, It Waits

Being numerate with an ability to handle pressure and communicate well are pre-requisites for being a stockbroker. A degree in a discipline such as business or economics would also help as would an MBA. A flair for understanding trends and the behaviour of people is also valuable.

Registration with the FSA (Financial Services Authority) is a key requirement and involves passing examinations to enable you to practice as a stockbroker. If you are lucky enough to secure a contract with a stockbroker firm they will normally provide assistance in the process of passing the FSA requirements. You should not be deterred by the process. Focus on the end goal and the prize.

2.     What Does A Stockbroker Actually Do?

Some stockbrokers manage all investment decisions on behalf of their clients. Others can provide advice whilst others provide an execution only service which means they only do what they are told to do by the client.

Daily activities will typically include analysing market trends, dealing with clients and potential clients, traders, keeping on top of portfolios under your management and of course trying to remember where you parked the Ferrari.

3.     The Small Print

From my experience the term ‘easy money’ is a contradiction in terms, and yes you guessed it, despite the dim view that the popular press often takes of stockbrokers the reality is that the working hours can be long, the pressure intense and the potential rewards, well actually quite immense so they shouldn’t moan.

Salaries for stockbrokers can typically be on average around £60k upwards, but for successful stockbrokers the earning potential can be huge. Think of bankers, and then some.

If you feel that you have the right attitude, tenacity and commitment you may wish to consider a career as a stockbroker. It’s a tough job, but one that offers the possibility of becoming rich. How many jobs offer that?

Jamie E Smith is the author of Making Money From Stocks And Shares

This content was provided by one of our users, Jamie