The salary of a stockbroker amounts to around $20,000 to $100,000 a year. The $20,000 is the entry salary and the $100,000 as the approximate amount of the ceiling salary. One of the main factors that make stock brokerage a special career is the fact that there is no one way to succeed in it.
Since stockbrokers are mostly individual workers even when they are members of brokerage firms, they are in charge of their own schedule, strategy, and in effect, success. Different places of practice also require different ways and means, so make sure you are very specific about where you want to practice. If you want to have a specialized practice in Kentucky, here are the things you need to accomplish:
Stockbroker requirements in Kentucky
A stockbroker’s success ultimately depends on the number of clients he/she answers to at any given time. This means that as an aspiring stockbroker in Kentucky, the first thing you need to do is to establish your name and have many contacts that are based in Kentucky. These are the people who could be your future clients, remember that.
All aspiring stockbrokers in the U.S. need to pass the Series 7 examination given by the FINRA. For this, you need a stock brokerage firm to sponsor you. As an additional requirement for hiring, your firm of choice would require either the Series 63 or Series 66 exams. Make sure you pass the right exams to get licensed!
Remember that the amount you earn would base on the clients you serve as a stockbroker for. So once you get your license, begin soliciting clients at once! To have an appealing track record as a beginner, you might want to consider finishing even an undergraduate degree. With a college diploma, you could have an appeal to clients even without experience. For that, here are our recommended universities in Kentucky where you could get your college education:
Recommended Colleges in California
- University of Phoenix – The University of Phoenix in Kentucky can be found in Florence and Louisville. They offer an associate degree, a bachelor’s degree, a doctoral degree, a master’s degree, a MACC degree and an MBA degree here. You can take courses in accounting, administration, entrepreneurship, hospitality management, IT management, marketing and music/entertainment/sports management here. They are also offering some of their programs online.
- Western Kentucky University – The Western Kentucky University is in the Bowling Green area, Kentucky. You can get your associate degree, a bachelor’s degree, certificate course, master’s degree and MBA degree here. The different courses that they offer in the university from which you can choose from are accounting, administration, agribusiness, entrepreneurship, hospitality management, human resources management, international business, marketing, music/entertainment/sports management and real estate.
So remember, to become a successful stockbroker in Kentucky, you got to expand your network, pass the required examination, and begin soliciting clients based in Kentucky! Good luck!