How do you go about becoming a stockbroker?

What to do to be a floor trader or a stockbroker?

• Hey im a junior in highschool and I think I would be very interested in becoming a stockbroker or floortrader. Im very good at multitasking and have an ability to make very fast decisions that are usually the right decisions, I have good people skills and i would enjoy it immensely. Currently I plan on being a Law or Poli Sci major in college and would i have to go to an ivy league school or something to do this? I wont be able to get into an ivy (3.2 GPA, 1560 PSATs (no study), 3 AP, numerous clubs and organizations) but ive talked to some current floor traders and they know a bunch of NYSE traders that went to small schools and some never went to college. Pllease help and be specific!! thanks!!!

• Answer:

  There is a very big difference between a floor trader and stock broker, a floor trader could very easily be a stock broker but a very few stockbrokers could be a trader. A trader has a sales rep by at least 10 IQ points. Your education is not important, I have had traders that worked for me and mostly all of them went to regular schools, the best floor person I had only went to high school and one Ivy league trader I had was a big A.H. You DO NOT need to be a graduate of a major school to be stock broker, in fact, you do not need a college degree to be a sales rep, If you plan on going to an Ivy league school, go for it, but it is not required to be a trader or a rep. I've employed both traders (in-house & exchanges) and reps, in hiring them I could care less of what "clubs" they joined while in school or even what their grade point average was. I know myself and others in this industry have turned down applicants who bring up their social life while in school, or "brag" about their GPA. Sales reps are good at sales, have many well-to-do contacts, understand the markets and the products traded in those markets. All traders have the same basic make-up - they're above average intelligence, good at math, have an outgoing personality and are not wrapped too tight. If you know people in the industry, contact them about getting a part-time job or summer help- it doesn't need to be in the trading or sales area, it will help getting you some "industry" experience which is worth more than anything you will get in the academic world. No firm hires traders unless they have years of experience and there is no such thing as a "trainee" position and no interns. So try to get any job that gets you in the doors, and if you're as good as you think you may be, then some day you can be a sales rep or a trader. Good luck on your journey