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7 Easy Steps to Become a Wall Street Broker and Make Money

Do you want to make money on wall street as a broker? If YES, here are 7 easy steps to become a professional wall street stock broker.

Working in the world’s largest stock exchange – The Wall Street is as prestigious as it sounds, because Wall Street is notable for transacting business deals in high volumes compared to other stock exchange around the globe. Little wonder it is nick named ‘The Business Hub of the World.’

Being a wall street broker means that you are involved in buying and selling of stocks in the commercial capital of the world. Wall Street is the home of the New York Stock Exchange. The requirements and expectation from those who intend working in the Wall Street is air tight to ensure that only those highly qualified and competent ones get to become traders there.

Yes, you can categorically say that the protocols of getting in there as a wall street broker is too tight, but the bitter truth is that only the best hands are absorbed to do the trading there. If you truly desire to become one of those highly regarded stockbrokers in Wall Street, then you just have to be on your way to scaling through the following benchmarks:

7 Easy Steps to Become a Wall Street Broker and Make Money

1. Get a Good Relevant Degree-: Obtaining a good first degree in mathematics related courses like Accounting, Business Management, Economics, Finance, Mathematics and Statistics, and what have you is one of the primary requirements to qualify to work in The Wall Street.

So if you intend to be counted as a Wall Street Broker, then you must go all the way to obtain a relevant first degree, and if possible with exceptional grades from a reputable University to boost your chances. Mark you that it has to be one of repute before you are considered.

2. Relevant Working Experience-: It is no doubt that rookies hardly find their ways straight from college to the Wall Street. If you have seen any broker who has achieved this feat, then chances are that such a fellow is a genius who has the luck of the universe working for him. Let’s get it straight rookies hardly get employed as Wall Street Brokers.

You must have acquired relevant experiences with other reputable Brokerage firms outside Wall Street before you might be considered by any Brokerage firm that does business in Wall Street. In a bid to fast track your way to Wall Street right from College, you must seek internship at the Wall Street Brokerage firms or any reputable firm. Be sure to do all it takes to cut your teeth with respected and reputable firms and you will have advantage on your side.

3. Pass the Series 7 Exams-: Ever heard of the series 7 exams? The Series 7 Exams which is also known as the General Securities Registered Representative Examination is a mandatory requirement needed for those who intend to work in the prestigious Wall Street as stock Brokers. By all standards the exams are noted to be tough, but if you prepare well for it, you are most likely going to pass.

However, you must ensure that you attend the required lectures, practice past questions and trust yourself. Note that you would need a minimum of 4 Months working experience in a brokerage firm to qualify to write the exams.

4. Have an Impressive Track Record-: If you are known for meeting and surpassing set targets, have an effective management of resources, and even have impressive leadership skills, then your journey to Wall Street will be achieved quicker than expected. Your records will always speak for you. Hence, you must ensure that you have the right records under your sleeves if Wall Street is where you intend plying your trade as a Broker.

5. Be Fraud Free-: It’s no longer news that you must have had relevant working experiences before applying to work as a Broker in Wall Street. You will do yourself a whole lot of good by ensuring you steer clear any deal that can jeopardize your chances of working there.

Also, it is important that you never fall short of any compliance or regulatory standard. Simply put, if you don’t have a clean record, you don’t have a place as a broker in the Wall Street period. It is a profession that requires people with integrity because no one would want to allow you manage their stocks if you can’t be trusted. In summary you must be a person of high integrity.

6. Get a Higher Degree-: Although having a good relevant first degree coupled with passing the Series 7 exams can open doors for you into becoming a Stockbroker in Wall Street, having an MBA will give that extra little edge. The queue for those who wants to work as a Broker in Wall Street keeps increasing, hence you must do all it takes to have advantage over your competitors. Yes, it might be expensive obtaining an MBA from top notch Universities, but trust me such MBAs open doors faster.

7. Have A Wall Street Mentor-: Did you know having a mentor in the line of your dream could help such a dream get realized? In making your chances really higher, you may need to have a mentor in Wall Street to help you access all opportunities available to you.

It’s a known fact that having the right mentor is one of the quickest ways to achieving success in any endeavor. Getting a mentor is not as difficult as most people think; you just have to groom yourself properly and introduce yourself to your potential mentor. It is only a matter of being accepted or rejected. If you get a yes, congrats! However, if a no; then look for another potential mentor and repeat the process until you find one.

In addition to all of these steps, you must be really optimistic that you would eventually someday realize your dream of being a Wall Street broker. Do not relent, keep at it and keep doing what you know how to do best. In a summary, you must explore all stated avenues and pretty soon, you will be on your way to being a Wall Street broker.