Stockbroker
Stockbroker
As a stockbroker, you would manage investments for your clients. These could be individuals, companies or large organisations. It would be your job to get the best financial returns by buying and selling stocks, shares and other financial products.
If you are interested in the financial markets and enjoy analysing information, this could be the ideal job for you.
To become a stockbroker, you will need to be honest and trustworthy. You’ll also need to be able to adapt to fast-changing situations. Entry is normally through a degree qualification, leading to a graduate training scheme with a financial firm.
- Hours50 per week
- Starting salary£24,000 + per year
Work activities
As a stockbroker, you would manage investments for your clients. These could be individual people, companies and large organisations. It would be your job to get the best financial return for your clients by buying and selling stocks, shares and other financial products.
You could offer three types of service:
- discretionary – managing all your clients’ investments and making decisions on their behalf
- advisory – advising clients about various investment options
- execution only – buying and selling only when clients ask you to, without giving advice
You may specialise in one type of service or offer all three.
For all types of service, your work would involve:
- managing and reviewing clients' investment portfolios
- helping clients develop their investment strategy
- researching financial markets - for this you would work closely with investment analysts who report on how companies and markets are performing
- answering clients' questions
- keeping clients informed about their investments and changes in the market
- instructing stock market traders to achieve the best market prices
- marketing your services to new clients
In larger companies, you might specialise in investing in certain markets such as technology or finance, or in specific regions such as the Far East.
If you work for private individual clients, you may be known as an investment manager or wealth manager.
Working hours and conditions
You would work long hours, typically 7am until around 6pm, Monday to Friday. If you work with commodities or Asian markets, your hours may be irregular due to international time differences.
You would usually work in a large, open plan office, and spend most of your time at the computer and on the telephone.
Income
Starting salaries range from £24,000 to £30,000 a year. With experience and appropriate qualifications, earnings can be between £45,000 and £80,000 a year.
With bonuses, senior stockbrokers with an extensive client base and higher value trades can earn over £100,000 a year.
Annual bonuses are common in stockbroking, and are based on personal and company performance.
Figures are intended as a guideline only.
Entry requirements
The main route into stockbroking is through an employer-based graduate training programme.
You would normally be expected to have a 2:1 degree or higher. Any subject may be accepted, but some employers may prefer to see a degree in management, business, economics, finance or maths.
You may be able to move into stockbroking if you already have a background and experience in financial services. Check with individual employers for exact entry requirements.
Training and development
Stockbroking is a regulated profession, so you will need to achieve a recognised qualification from the Financial Conduct Authority’s (FCA) Appropriate Qualifications list.
There is a number of qualifications available and the one you do will depend on your exact duties and your employer. Qualifications include:
- CFA Society UK Level 4 Certificate in Investment Management
- CISI Level 4 Diploma in Investment Advice
- CISI Level 7 Master's in Wealth Management
- Fellow or Associate of the Faculty or Institute of Actuaries
- Manchester Metropolitan University BA (Hons) Financial Services, Planning and Management
See the FCS website for more information about Appropriate Qualifications.
You will be expected to keep up to date with new procedures and regulations throughout your career. The Chartered Institute for Securities & Investments (CISI) and the CFA Society UK both provide short courses and training events to help with your professional development.
Skills, interests and qualities
To become a stockbroker, you will need to have:
- the ability to understand and analyse complex information
- good communication skills
- good maths and IT skills
- confidence and decision-making ability
- a calm approach when working under pressure
- the ability to work as part of a team as well as on your own
- drive and determination
- close attention to detail
- good judgement of risks
- honesty and a trustworthy attitude
- strong relationship management and interpersonal skills
Language skills, especially German, Japanese, French and Russian, can be an advantage if you want to work with overseas clients and markets.
More information
Financial Skills Partnership 
51 Gresham Street
London
EC2V 7HQ
Tel: 0845 257 3772
www.financialskillspartnership.org.uk
51 Gresham Street
London
EC2V 7HQ
Tel: 0845 257 3772
www.financialskillspartnership.org.uk
Chartered Institute for Securities & Investment (CISI)
8 Eastcheap
London
EC3M 1AE
Tel: 020 7645 0680
www.cisi.org
8 Eastcheap
London
EC3M 1AE
Tel: 020 7645 0680
www.cisi.org
CFA Institute
10th Floor, One Canada Square
Canary Wharf
London
E14 5AB
Tel: 020 7531 0751
www.cfainstitute.org
10th Floor, One Canada Square
Canary Wharf
London
E14 5AB
Tel: 020 7531 0751
www.cfainstitute.org
Association for Financial Markets in Europe (London office)
St. Michael's House
1 George Yard
London
EC3V 9DH
Tel: 020 7743 9300
www.afme.eu
St. Michael's House
1 George Yard
London
EC3V 9DH
Tel: 020 7743 9300
www.afme.eu
Opportunities
You could work for an international bank, financial investment and fund management firm, and specialist broker. There may also be opportunities in private banks, where wealth managers handle some of the stockbroking role.
Most jobs are based in London but there are also opportunities in other major cities in the UK and in overseas financial centres, such as New York, Tokyo and Sydney, Paris, Frankfurt, Milan and Madrid.
Companies with graduate training schemes usually recruit through university job fairs. Summer internships are offered by some of the larger firms, which can be used to pre-select graduate recruits.
Jobs may be advertised in the national and financial press, and by specialist financial recruitment agencies. You could also contact stockbroking firms and investment banks directly. See the Wealth Management Association (WMA) and the Association for Financial Markets in Europe (AFME) websites for details of member companies.
With experience and a good track record, you could progress to become a trader, relationship manager or fund manager.
You may find the following useful for vacancies and general reading:
Job market information
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The 'Market statistics' charts are based on figures from the UK Commission for Employment and Skills (UKCES) and the Office for National Statistics (ONS).
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