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Brokers Floor Representative
|Overview:||Broker's floor representatives buy and sell financial securities on the "floor" of a stock exchange market. They analyze market conditions and trends and decide when to buy and sell securities based on prices quoted and competition from other buyers.|
|Duties:||Broker's floor representatives buy and sell securities for clients based on market quotation prices and competition in the market. They analyze daily financial transactions and trends in each industry to make decisions.
They analyze each of their customer's accounts to review the mix of securities owned and how they are being affected by the current buy and sell trends in the market.
They study the financial health of securities owned by customers. They advise their customers how to re-configure their mix of securities by selling or buying specific issues.
Broker floor representatives maintain financial data records for major securities owned by customers to track their performance and plot their overall revenue generating performance and diagnoses causes of fluctuations.
|Job Outlook:||Employment of brokers floor representative is expected to grow as fast as average through 2018. Jobs in exchanges also will be difficult to obtain as the number of applicants is expected to greatly exceed the relatively few positions available. Positions at regional securities firms and brokerages may be somewhat more accessible.|
|Starting Salary:||Commissions and bonuses may the increase the annual salary earned.|
|Salary Range (National Average):||$40,000 to $45,000|
|Education Level:||Typically, a Bachelor’s Degree from a 4-year college (some are 5 years) is required to be considered for this occupation.|
|Additional Training/Education:||A bachelor's degree in business administration with a concentration in financial analysis and banking is the usual educational requirement to qualify for this occupation. Courses in marketing, business law, economics, statistics and computer applications are essential. Broker's representatives must be registered and pass a written examination in accordance with the securities exchange where they do business. An MBA degree will enhance your promotion potential.|
Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreements with other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services Advisor to fully understand the opportunities available through study in their degree program.