Junior Stockbroker Job Description
The US and global markets are showing signs of stabilizing and analysts are optimistic about growth in the near future. This seems to be an ideal time for stockbrokers as investors have started to capitalize on the upswings in the markets. If you look at the job profile of a junior stockbroker, you will realize that it needs people with an in-depth understanding of the workings of the stock markets. If you want to become a stockbroker you don’t need any formal education but employers prefer candidates with a degree in finance-related subjects.
Although you don’t need any formal education to become a stockbroker you need to give certification and licensing exams to start as a stockbroker. Entry-level jobs for junior stockbrokers are available with brokerage firms and investment management companies. The junior stockbroker job description involves working long hours especially when the markets are showing signs of volatility.
Duties
One of the core responsibilities of junior stockbrokers is to research the financial markets for information pertaining to bonds, mutual funds, commodities, stocks, etc. They will then pass on this information to senior brokers or the firm’s clients. Junior stockbrokers need to have good decision-making powers and impeccable timing to convert their leads into financial gains for the clients. In some firms junior stockbrokers are in charge of the client’s portfolios under the supervision of a manager.
They attend meetings held by the financial analysts, hedge fund manager, etc., to discuss the best investment options for the clients. Generating statistical reports and giving presentations pertaining to the stock markets in these meetings is one of their responsibilities. At times they participate in client meetings and share their knowledge of the market conditions. Junior stockbrokers suggests when to buy or sell stocks to their superiors or clients after doing thorough research.
A junior stockbroker analyzes large volumes of financial information from the domestic and interpersonal markets. They use advanced finance software to interpret the financial data and make speculative investment decisions. Monitoring certain stocks and client investments takes up some of the office time of a junior broker, especially in firms dealing with a large client base. Generating monthly and quarterly reports relating to clients investments is a part of their duty.
Filing client agreements detailing the financial investments is one of the administrative duties of a junior broker. They will also meet up with the clients for general consultations and answering queries about investment plans. Maintaining records of the clients investments and intimating the management regarding these transactions is one of their key tasks.
Requirements and Salary
You don’t need a specific degree to become a junior stockbroker, all you will require is a keen sense and understanding of the financial markets. However, to work as a stockbroker you will have to give a few exams and get licensure to trade. You will have to give the General Securities Registered Representative Examination if you wish to pursue a career in stock trading. Some states also require aspirants to give the Uniform Securities Agents State Law Examination.
Entry-level jobs in brokerage firms which have a designation of junior stockbroker pay anywhere between $18000 to $30000 per year. The salary figures are affected by job location and employer type. Junior stockbrokers also make good bonuses on the profit-making investment tips they give clients.
Individuals with acuity pertaining to the current political and economic trends will do well in this profession. Junior stockbrokers play an integral role in connecting investors to the right deals in the bulls and bears market conditions.
