Stock Trader - Job Description

Stock Trader - Job DescriptionStock Trader - Job DescriptionA stock trader buys and sells stocks, which represent equity in businesses, on behalf of investors and the firm that employs him or her. We often seetraders in movies frantically yelling out buy and sell orders on the crowded and noisy floor of a stock exchange, like the New York Stock Exchange (NYSE). That is leid how it works these days. Only a small number of traders still do auction-style trades on the floor of an exchange. Most spend their days in offices, tradingstocks electronically. They spend their days in front of a computer screen. For more about the move from face-to-face to electronic trading read The Death of the Trading Floorby Stephen D. Simpson (Investopedia). Quick Facts for Stock Traders Securities, commodities, and financial services sales agents, including stock traders, earn a median annual salary of $67,310 (2016).*About 376,000people work in this field (2016).*Securities and investment firms emplo y most of them.This occupation has a good job outlook, according to the Bureau of Labor Statistics (BLS). Employment is projected to grow as fast as the average for all occupations between 2016 and 2026. *The Bureau of Labor Statistics reports salary and employment data for Securities, Commodities, and Financial tafelgeschirrs Sales Agents in general, rather than specifically for stock traders Job Duties These are some typical job duties employers listed in online ads for stock trader positions onIndeed.com Execute purchases and sales of investment products in a timely and efficient mannerResearch and resolve issues intradingareaCreate new market making strategies for electronically traded productsProvide clients with general information and help with their brokerage accountsMaintain and document activityBuild quality relationships with industry participants How to Become a Stock Trader To work in this occupation you typically need a bachelors degree. Make sure to take cours es in business, finance, accounting and economics. You will probably receive on-the-job training from the company that hires you. Anyone who wants to sell stocks or other securities must take and pass a test called the Series 7 or, more formally, the General Securities Representative Examination. TheFinancial Industry Regulatory Authority (FIRA)administers this six hour exam. Many employers help their traders prepare for the Series 7. WhatSoft SkillsDo You Need to Succeed in This Career? In addition to a degree and on-the-job training, you must have an aptitude for math to be a stock trader.You also need the followingsoft skills, or personal qualities Listening Skills As a stock trader, you will have to listen carefully to what your clients tell you. Making a mistake because you werent paying attention can be extremely costly.Verbal Communication Skills Your clients will have to make important decisions based on the information you provide.Decision-Making Skills You must be able to think on your feet and make decision swiftly.Critical Thinking Because the consequences of your decisions can be great, it is essential that youweigh all your choices carefully before choosing the best one. Customer Service Skills Your clients must feel comfortable with you. WhatWill Employers ExpectFrom You? Here are some requirementsinjob announcements onIndeed.com Possess a strong work ethic and be able to learn quickly in a fast paced, high pressure environmentGreat attention to detailAggressive, self-motivated individual who functions well in a team environmentAdaptable, willing to learn, and passionateMaintain composure and communicate clearly when under pressureExcel proficient Is This Occupation a Good Fit for You? It is important to consider yourinterests,personality type, andwork-related valueswhen choosing a career. This occupation could be a good fit if you have the following traits Interests(Holland Code) ECS (Enterprising, Conventional, Social)Personality T ype(MBTI PersonalityTypes) ENTJ, ESTJ, ISTJ, ESTPWork-Related Values Achievement, Independence, Working Conditions Occupations With Related Tasks and Activities TitleDescriptionAnnual Salary (2016)Educational RequirementsReal Estate Sales AgentHelps clients buy and sell properties$44,090High school diploma, real estate classes and a licenseSales RepresentativeSells products on behalf of wholesalers or manufacturers$78,980 (technical scientific products)$57,140 (all other products)Minimum of a high school diploma but many employers prefer to hire job candidates who have a bachelors degreeInsurance AgentAssists clients with the purchase of all types of insurance$49,990Employers prefer to hire agents who have a bachelors degree but will consider a high school graduate with proven sales abilitySales EngineersSells complex scientific and technical products to companies$100,000Bachelors degree in engineering or a related field Sources Bureau of Labor Statistics, U.S. Department of La bor,Occupational Outlook Handbook Employment and Training Administration, U.S. Department of Labor,O*NETerreichbar(visited February20, 2018).