The stock market attracts many people every year who see the great opportunities to earn a fortune. Working on Wall Street has become almost synonymous with financial success in America. For most of these jobs, all you need is a bachelor’s degree and determination. But how do you choose which career is right for you?
The world of stock trading is much larger than most people realize. There are many different careers for people of all ages, experiences, and lifestyles.
This is one of the most famous careers in stocks – Leonardo DiCaprio plays a wild, hard-partying stockbroker in the 2013 film The Wolf of Wall Street. Stockbrokers have a reputation for being ruthless in their tactics.
You can make a lot of money in stocks if you are willing to put the work in. These days, individuals are less likely to be stockbrokers. More often, big corporations have the liquid capital necessary to invest on the level that is needed to trade stocks.
Although this is the most well-known job title in stocks, the actual work we see done in Wolf of Wall Street is closer to the next job on the list.
Security Sales Agent
A security sale agent is closer to what you may think of when you hear the term “stockbroker”. These are people who work closely with clients and customers. You will need training and a license to take this job on.
As with most jobs involved in the stock market, you will need to pass a series of exams to be allowed to trade, buy, and sell stocks. You may also need to continue your education throughout your career.
A stock analyst or financial analyst does not work with customers in the same way a broker does. Rather, they work for the company itself, researching trends and competition in the market.
This work might be outsourced to a company that works with several broker companies, or they might work exclusively with your company. This is a very technical job that involves a lot of research and number crunching. You will have to project the earnings of your company and predict dips or swells in the market.
Personal Financial Advisor
You will need a wide base of knowledge for this career. This is not a job that involves directly trading stocks. Rather, you will meet with clients and inform them on various subjects within the market.
Things you will do for clients range from advice on taxes to helping them get started in investing. While most jobs in the stock market earn money through trading and buying, in this job you would charge a fee for acting as a consultant.