How to Become a Stock Broker and Earn Degrees

Stockbrokers play an important role in the financial markets, helping clients buy and sell stocks.

They also provide advice and guidance on investment strategies.

To become a stockbroker, you need to have a bachelor’s degree in business, finance, or a related field.

Here’s how to become a stock broker and earn degrees.

Steps to becoming a stockbroker

Here are the steps you need to take to become a stockbroker:

Earn a bachelor’s degree.

A bachelor’s degree in business, finance, or a related field is required to become a stockbroker.

Some of the courses you may take in your undergraduate program include economics, accounting, statistics, and business law.

Pass the Series 7 exam.

The Series 7 exam is a comprehensive exam that covers all aspects of the stockbroking industry.

To take the Series 7 exam, you must be sponsored by a member firm of the Financial Industry Regulatory Authority (FINRA).

Register with FINRA.

Once you have passed the Series 7 exam, you must register with FINRA as a representative.

This process involves submitting an application and paying a registration fee.

Get licensed.

Once you are registered with FINRA, you must obtain a license from your state securities regulator.

The licensing requirements vary from state to state, but most states require you to pass a state-specific exam.

Stock broker degree programs

Here are some of the most popular stock broker degree programs:

Bachelor of Business Administration (BBA) in Finance:

This program provides students with a comprehensive understanding of financial markets and investment principles.

Bachelor of Science in Finance (BSF):

This program is similar to the BBA in Finance program, but it focuses more on the technical aspects of finance.

Bachelor of Arts in Economics (BAE):

This program provides students with a deep understanding of economic theory and principles.

Bachelor of Science in Accounting (BSA):

This program provides students with the skills and knowledge they need to become accountants.

Master of Business Administration (MBA) in Finance:

This program is designed for students who have already earned a bachelor’s degree and want to specialize in finance.

How to Succeed in Stock Broker Career

Here are some tips for success in your stock broking career:

Stay up-to-date on the markets. The financial markets are constantly changing, so it is important to stay up-to-date on the latest news and trends.
Build relationships with clients. Stockbroking is a relationship-driven business, so it is important to build strong relationships with your clients.
Be ethical and honest. It is important to be ethical and honest in all your dealings with clients and colleagues.
Be a lifelong learner. The financial industry is constantly evolving, so it is important to be a lifelong learner.

Best and Popular Stock broker degrees in 2023

The stock market is constantly evolving, and so are the educational requirements for stockbrokers.

In 2023, the most common degree for stockbrokers is a bachelor’s degree in business or finance.

However, many stockbrokers also have master’s degrees, particularly in business administration (MBA) or finance.

Some specific stock broker degrees that are popular in 2023 include:

Bachelor of Business Administration (BBA) in Finance
Bachelor of Science in Finance (BSF)
Bachelor of Arts in Economics (BAE)
Bachelor of Science in Accounting (BSA)
Master of Business Administration (MBA) in Finance
Master of Science in Finance (MSF)
Master of Science in Financial Economics (MSFE)

In addition to a degree, stockbrokers must also pass the Series 7 exam, which is a comprehensive exam on the securities industry. Once they have passed the Series 7 exam, they must register with the Financial Industry Regulatory Authority (FINRA).

Some stockbrokers may also choose to pursue additional certifications, such as the Chartered Financial Analyst (CFA) designation or the Certified Financial Planner (CFP®) designation. These certifications can demonstrate a stockbroker’s knowledge and expertise in the financial industry.

What is the job outlook?

The job outlook for stockbrokers is projected to grow 6% from 2020 to 2030, faster than the average for all occupations.

This growth is expected to be driven by an increase in the number of investors and the growth of the financial markets.

If you are interested in a career as a stockbroker, it is important to earn a degree in business or finance and pass the Series 7 exam. You may also want to consider pursuing additional certifications, such as the CFA or CFP® designation.

Conclusion

Becoming a stockbroker can be a rewarding career, but it is important to be prepared for the challenges involved. By earning a degree in finance or a related field, passing the Series 7 exam, and registering with FINRA, you can start your journey to becoming a successful stockbroker.

How to Become a Stock Broker and Earn Degrees