Tuesday, June 10, 2014

Review of computer brokers::how do brokers make their money







Review of computer brokers::how do brokers make their money








Stock               brokers               are               a               very               important               part               of               our               economy.

They               buy               or               sell               shares               on               the               market               for               other               people               (their               investors).

They               help               provide               funding               to               small               startup               companies               and               are               also               important               sources               of               funding               for               major               businesses,               all               while               improving               the               financial               situation               of               their               investors.

What               is               a               stock               broker?

A               stock               broker               is               someone               who               invests               in               the               stock               market               for               individuals               or               corporations               (Stockbroker).

The               investor               speaks               with               the               broker               and               tells               them               what               they               want,               then               the               broker               gives               this               info               to               a               trader               at               the               company               headquarters.

If               the               request               cannot               be               met               with               the               company               the               stock               is               placed               with               a               floor               broker               or               electronic               trading               service               (Securities,               Commodities,               and               Financial               Sales               Agents).

Brokers               also               give               advice               to               their               clients               about               what               they               think               would               be               their               best               choice               to               invest               in               (Stockbroker).
               Stockbrokers               exist               because               although               only               20%               of               stocks               are               owned               by               small               investors,               the               majority               of               investors               are               small               and               are               required               to               go               through               a               brokerage               firm               in               order               to               buy               or               sell               stock               (Securities,               Commodities,               and               Financial               Services               Sales               Agents).

They               are               also               needed               because               most               people               don't               have               enough               knowledge               of               the               stock               market               to               invest               wisely               and               they               give               advice               to               those               people               on               financial               decisions               (Stockbroker).
               Stock               brokers               work               with               other               occupations               in               their               cluster               in               many               different               ways.

The               first               way               is               they               have               to               relay               their               trades               to               traders               or               floor               brokers               so               that               they               can               be               given               to               the               exchange.

They               also               work               with               financial               planners               who               give               more               in-depth               advice               to               their               clients               (Stockbroker).


               There               are               three               different               types               of               stock               brokers:               normal               brokers,               floor               brokers,               and               independent               brokers.

Normal               brokers               are               those               who               work               for               a               brokerage               firm               and               buy/sell               for               most               small               investors.

Floor               brokers               are               those               who               work               on               the               exchange               floor               and               negotiate               deals               and               trades.

Independent               brokers               are               those               who               buy/sell               stocks               for               their               own               accounts,               for               corporate               accounts,               or               for               overwhelmed               brokers               (Securities,               Commodities,               and               Financial               Services               Sales               Agents).

Most               brokers               are               located               in               the               major               cities               and               around               stock               exchanges.

Stock               brokers               have               many               responsibilities.

They               need               to               ca               people               in               order               to               get               more               clients,               advice               their               clients,               and               be               able               to               work               in               a               hectic               work               environment.

They               are               often               required               to               work               long               hours-               especially               in               the               beginning               of               their               career               when               they               have               to               call               potential               clients.

They               also               work               odd               hours               and               are               required               to               be               cal               during               holidays               and               weekends               (Securities,               Commodities,               and               Financial               Services               Sales               Agents).
               Stock               brokers               belong               in               the               business               and               administration               cluster.

This               cluster               mainly               focuses               on               providing               management               and               support               services               for               companies               and               businesses.

This               cluster               is               necessary               in               order               to               have               any               organized               business,               without               this               cluster               we               would               be               relegated               to               hunting               and               other               manual               labor               because               our               society               is               based               off               of               our               businesses.

This               cluster               includes               secretaries,               accountants,               small               business               owners,               CEO's,               and               any               other               job               supporting               a               business.


               In               order               to               become               a               stock               broker               it               is               required               to               have               passed               the               Sector               7               exam               and               to               have               taken               on-the-job               training               at               a               brokerage               firm.

Although               a               college-degree               is               not               required,               it               is               highly               recommended               to               have               a               degree               in               economics,               business,               or               other               financial               majors.

Another               thing               that               is               very               useful               in               getting               a               job               is               prior-job               experience,               because               being               a               stock               broker               requires               good               sales               skills               as               well               as               financial               prowess               and               those               who               have               succeeded               in               the               sales               field               are               desired               (Securities,               Commodities,               and               Financial               Service               Sales               Agents.

Enhanced               Occupation               Outlook               Handbook).
               One               school               that               offers               S7               preparation               is               the               "Empire               Stockbroker               Training               Institute."               It               is               located               in               N.Y               and               entrance               is               decided               based               on               ability               and               interviews.

A               brokerage               firm               that               offers               internships               is               Dean               Witter.

This               company               is               located               in               New               York               and               they               allow               people               that               impress               them               in               the               interview               in,               although               only               a               few               are               retained               at               the               end               of               training.

Another               school               that               trains               stockbrokers               is               "Stockbroker's               Training               School".

They               provide               textbooks,               live               instructors,               and               other               to               companies               to               train               their               interns.


               Sample               tasks               required               during               an               internship               would               be               competing               for               clients               through               cold               calling,               running               a               large               number               of               small               accounts               while               taking               ongoing               training               in               the               different               aspects               of               being               a               stock               broker               (Securities,               Commodities,               and               Financial               Service               Sales               Agents).
               The               cost               for               the               training               is               paid               for               by               the               interning               company,               although               extra               training               like               the               "Empire               Training               Institute"               costs               extra.

There               are               many               internship               opportunities,               because               almost               all               companies               train               their               stockbrokers               themselves               and               all               stockbrokers               need               to               be               interned               for               four               months               before               taking               their               exam.

Scholarships               are               not               given,               because               companies               either               pay               you               very               little               or               nothing               during               your               internship               (Best               College               Internships).
               The               path               to               becoming               a               stock               broker               begins               with               one               of               three               options:               a               sales               job/other               job               in               the               financial               sector,               getting               your               college               degree               in               a               financial               area,               or               entering               an               analyst's               position               directly               after               college.

To               advance               from               a               sales               or               financial               sector               job               to               an               internship               at               a               brokerage               firm               it               is               required               to               have               good               references,               ample               job               experience,               good               interviews,               and               success               in               previous               jobs.

To               advance               straight               out               of               college               requires               very               good               interviews               and               interpersonal               skills.

Those               who               succeed               in               the               internship               are               rewarded               with               a               commission               based               position               where               good               performance               is               rewarded               with               more               clients               as               well               as               corporate               accounts.

This               gives               better               pay               but               requires               more               availability.

Advancing               from               an               analyst               position               requires               2-3               years               on               the               job               and               is               dependent               on               performance.

Stock               brokers               with               a               fixed               salary               advise               and               help               clients               of               the               bank.

Depending               on               performance,               stock               brokers               with               a               fixed               salary               can               advance               to               vice               president               where               they               get               better               pay               and               supervise               the               stock               brokers.

Some               vice               presidents               are               advanced               to               become               directors/executive               directors               which               mean               that               they               supervise               the               vice               presidents               and               handle               the               very               large               bank               client's               accounts               (Securities,               Commodites,               and               Financial               Services               Sales               Agents).
               The               path               to               becoming               a               stock               broker               begins               with               one               of               three               options:               a               sales               job/other               job               in               the               financial               sector,               getting               your               college               degree               in               a               financial               area,               or               entering               an               analyst's               position               directly               after               college.

To               advance               from               a               sales               or               financial               sector               job               to               an               internship               at               a               brokerage               firm               it               is               required               to               have               good               references,               ample               job               experience,               good               interviews,               and               success               in               previous               jobs.

To               advance               straight               out               of               college               requires               very               good               interviews               and               interpersonal               skills.

Those               who               succeed               in               the               internship               are               rewarded               with               a               commission               based               position               where               good               performance               is               rewarded               with               more               clients               as               well               as               corporate               accounts.

This               gives               better               pay               but               requires               more               availability.

Advancing               from               an               analyst               position               requires               2-3               years               on               the               job               and               is               dependent               on               performance.

Stock               brokers               with               a               fixed               salary               advise               and               help               clients               of               the               bank.

Depending               on               performance,               stock               brokers               with               a               fixed               salary               can               advance               to               vice               president               where               they               get               better               pay               and               supervise               the               stock               brokers.

Some               vice               presidents               are               advanced               to               become               directors/executive               directors               which               mean               that               they               supervise               the               vice               presidents               and               handle               the               very               large               bank               client's               accounts               (Securities,               Commodites,               and               Financial               Services               Sales               Agents).
               There               are               many               opportunities               for               stock               brokers               to               find               work.

There               are               available               positions               for               established               stock               brokers               or               stock               broker               trainees               in               a               firm               called               National               securities               based               in               New               York               City               but               with               locations               throughout               the               USA.

Applicants               must               email               Jrhee@NationalSecurities.com               or               call               646-292-5001               and               ask               for               Joon               Rhee.

The               salary               is               commission               and               fee               based               and               it               is               highly               recommended               that               applicants               have               a               Bachelor's               degree               in               either               Business               or               Economics               along               with               experience               in               the               financial               field               (The               Job               Posting).
               Another               job               within               the               financial               and               business               administration               cluster               is               an               entry               level               sales               job               at               a               growing               company.

No               experience               is               necessary               and               applicants               must               call               215-441-0775               or               email               nickmaxell@trugreenmail.com.

Another               position               available               within               this               cluster               is               an               accounting               job               in               the               accounts               receivable               section               of               an               unnamed               company.

Applicants               must               call               1-800-624-9244               and               the               job               is               located               in               the               Trenton               area.

A               third               job               available               within               this               cluster               is               Financial               administrator               of               two               Sears               stores               located               in               Fairless               Hills               and               Wilkes-Barre,               PA.

Applicants               must               have               a               bachelor's               degree               in               business               administration,               finance,               accounting,               or               equivalent               as               well               as               more               than               5               years               of               experience.

Computer,               administration,               organization,               and               communication               skills               are               necessary.

Applicants               must               email               their               resume               and               salary               history               to               DCHR8275@searshc.com               (BCCT               Classifieds               22               March               2009).

A               fourth               job               opening               in               this               cluster               is               a               job               as               finance               manager               of               Parkeon.

More               than               five               years               of               job               experience               is               required               as               well               as               a               bachelor's               degree               and               a               minimum               career               level               of               manager.

Applicants               should               visit               www.parkeon.com               or               apply               through               monster.com               (Finance               Manager               Job               in               Moorestown,NJ).
               There               are               many               benefits               and               a               few               disadvantages               to               being               a               stockbroker.

The               average               salary               for               a               stock               broker               is               $68,500               but               varies               between               $31,170               and               $145,600               (Securities,               Commodites,               and               Financial               Services               Sales               Agents).

Beginner               stockbrokers               normally               begin               with               a               fixed               salary               that               gradually               decreases               as               they               get               more               clients               and               higher               commissions               (Morken,               Interview).

Benefits               are               normally               very               good               and               include               health               care,               retirement,               and               life               insurance.

They               may               also               receive               discounts               on               financial               services.


               Stock               brokers               are               often               required               to               be               available               on               holidays               and               to               work               odd               hours.

They               also               may               be               required               to               be               up               early               or               late               to               watch               non-national               markets.

They               can               expect               to               be               called               by               clients               at               any               moment.

This               causes               stress               on               their               family               and               limits               stress-free               family               time.

Thoughts               of               the               market               will               never               be               far               from               their               mind.

They               will               never               be               able               to               have               time               where               they               know               they               won't               be               interrupted.

This               can               cause               health               problems               as               well               as               marriage               problems.
               Other               benefits               that               stock               brokers               may               receive               include               paid               lunches               with               clients,               paid               dinners               for               late               nights,               and               extensive               travel               opportunities.

These               benefits               depend               on               the               dedication               of               the               worker               to               their               job.


               The               disadvantages               of               this               job               would               be               the               extra               time               required,               the               odd               hours,               and               the               extra               stress               put               on               family               and               other               relationships.

These               would               be               offset               by               the               other               benefits               of               the               job               including               a               good               salary,               health               benefits,               retirement,               and               other               small               benefits               (Securities,               Commodites,               and               Financial               Services               Sales               Agents).


               Some               different               volunteer               opportunities               that               might               help               prepare               someone               to               become               a               stock               broker               are               helping               someone               do               their               taxes,               finding               sponsors               for               a               walkathon               or               other               similar               event,               or               helping               a               charity               find               donors,               or               selling               a               product               for               a               charity.
               Some               places               that               would               have               opportunities               for               this               kind               of               work               are               individual               persons,               schools,               charities,               churches,               and               other               not-for-profit               organizations               that               require               funding.

At               TKCS               there               are               opportunities               for               finding               sponsors               and               for               selling               a               product.

Churches               also               frequently               sell               products               to               raise               funds.


               Helping               someone               with               their               taxes               would               help               people               to               become               more               comfortable               with               finances.

Finding               sponsors,               donors,               or               selling               a               product               for               a               charity               would               improve               people               skills,               sales               ability,               and               the               ability               to               find               clients,               which               are               all               skills               stock               brokers               need.
               Volunteering               in               these               positions               would               also               help               a               potential               stockbroker               to               know               whether               that               job               would               be               right               for               them.

If               they               found               that               they               did               not               like               to               sell               things               to               people               or               to               ask               them               to               sponsor               them               then               they               probably               will               not               enjoy               asking               people               to               become               their               clients.

If               they               had               trouble               helping               someone               with               their               taxes               then               they               might               not               enjoy               working               with               numbers               which               means               they               would               not               enjoy               being               a               stockbroker.

(Securities,               Commodites,               and               Financial               Services               Sales               Agents).
               A               typical               day               for               a               stockbroker               begins               with               him               arriving               at               his               office               and               eating               a               company               provided               breakfast               (Securities               and               Stockbroker               Career               Information).

He               then               might               spend               an               hour               studying               the               stock               market.

After               that               he               may               call               one               of               his               clients               and               advise               him               on               what               he               thinks               he               should               do               with               one               of               his               stocks.

After               getting               approval               he               then               sounds               out               the               order               to               the               floor               of               the               stock               exchange.

After               the               stock               has               been               bought,               the               broker               informs               his               client               of               the               price               and               transfers               ownership               of               the               stock               to               his               client.

The               broker               then               fills               out               some               final               paperwork               and               the               transactions               is               completed.

The               broker               then               repeats               this               process               again               for               another               trade.

New               stock               brokers               must               arrive               earlier               and               leave               later               because               they               must               call               people               to               try               and               build               up               a               client               base.

Stockbrokers               generally               work               from               nine               to               five               unless               they               are               new               (Stockbroker).


               Stock               brokers               are               a               very               interesting               career               that               pays               well               and               provide               freedom               but               requires               hard               work               and               dedication.

They               are               important               to               our               economy               and               they               won't               be               disappearing               any               time               soon.
               Burlington               County               Times               Classifieds.

March               22               2009.


               "Finance               Manager               Job               in               Moorestown               08057               New               Jersey               US".

Monster.com.

March               25               2009.

.


               Morken,               Stan.

Interview.

04               March               2009.


               "Securities,               Commodities,               and               Financial               Services               Sales               Agents".

Bureau               of               Labor               Statistics.

March               25               2009.

.


               "Securities,               Commodities,               and               Financial               Services               Sales               Agents".

DiversityWorking.com.

March               25               2009.

.


               "Securities,               Commodities,               and               Financial               Service               Sales               Agents".

Enhanced               Occupation               Outlook               Handbook.

Indianopolis:               Jist               Publishing,               2003.


               "Stockbroker".

Princeton               Review.

04               May               2009.

.


               "Securities               and               Stockbroker               Career               Information".

ProSchools.

04               May               2009.

.


               "The               Job               Posting".

Brokerhunter.com.

March               25               2009.

.






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