New York is the centre of business and finance, so if you want to make it as a Stockbroker in New York, you have to be willing to walk the extra mile, the Stockbroker salary NYC is pretty high as well as if the difficulty to become one. For instance, you may have already known that there is no strict requirement for aspiring stockbrokers to hold a bachelor’s degree.
However, the playing field in New York is extremely competitive, so brokerage firms very rarely take in entry-level Stockbrokers who are not bachelor’s degree holders. Let us look into, How to become a Stockbroker in New York and how much a Stock Broker Salary in NYC is.
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Take Qualifying Examinations
Also, there are more requirements to becoming a Stockbroker in New York. You need to pass at least two exams to get your license to trade. First is the Series 7, which is required by all Financial Industry Regulatory Authority (FINRA)-member firms. In order to take this exam, you have to be sponsored by a broker-dealer firm.
After that, you have to pass either the Series 63 exam (Uniform Securities Agent State Law Examination or the Series 66 exam (Uniform Combined State Law Examination.) You have to pass at least one of these series in order to be allowed to work with New York clients. After passing the required examinations, you will then be licensed as a professional representative in New York; and you can now get your on-the-job training and start making a living, as a Stockbroker trainee salary pays well.
Stock Broker Salary in New York NYC
The standards for New York Stockbrokers may be really high, but it would really be worth your time and effort once you’re already an established agent for an established brokerage firm as a Stock Broker Salary NYC pays well. See, the salary of stockbrokers, in general, is good, but New YorkStockbrokers are paid exceptionally well. It may still vary according to the place and firm, but the salary range of New York Stockbroker is from $42,500 to $128,300.
Recommended Colleges in New York
As mentioned earlier, one of the most important things to secure when aspiring to be a Stockbroker is a bachelor’s degree. Of course, to be armed with whatever there is to know about stock brokerage, you have to get a degree in something that would help you survive the world of finance. These courses include Economics, Business Administration, Finance, and related courses.
- Columbia University – And as far as universities are concerned, of course, you have to go with the top schools for business and finance. In New York, one of the top business schools is Columbia Business School in Columbia University (CU). CU has an acceptance rate of 18.1%, and the average post-graduation salary for CU alumni is $116,153.
- Stern Business School – Another business school to consider would be the Stern Business School at the New York University (NYU). Their Economics program is one of the best there is. 16% is their acceptance rate, while the average post-graduation salary of graduates from the Stern Business School is $107,450. These are top schools, and if you want quality education, then you want to secure a place in these institutions. Their program curricula would definitely teach you what you have to know in order to survive in the highly competitive field of becoming a Stockbroker in New York.
Now, make sure you remember these: take note of the requirements that you need, pass the necessary examinations, and of course you have to get a bachelor’s degree. Good luck on your career as a Stockbroker!