5 Careers on Wall Street


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Want to work on Wall Street? Here's how to get started!

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5 Careers on Wall Street

  1. 1. So You Want a Career in the Stock Market?
  2. 2. There are a few skills you’ll need……
  3. 3. • You’ll need to be good with numbers…. ….and be willing to work long hours Wikimedia/deerstop Flickr/star5112
  4. 4. • You need to always stay current with market happenings…. ….and a good education won’t hurt! Wikimedia/Luis Villa del Campo Wikimedia/Kit
  5. 5. But what job is right for you?
  6. 6. Financial Advisor or Stockbroker • Financial advisors buy and sell stocks on behalf of their clients • In addition to the skills already mentioned, you’ll need excellent people skills • Advisors will need to actively seek new customers and follow up on leads • Financial advisors are expected to be able to cross-sell their firm’s products and services • There is NO formal education requirement! • But, you’ll need to pass the rigorous Series 7 exam (national investment laws), and either the Series 63 or 66 (state investment laws), as well as obtain insurance licenses • Only about two-thirds of test- takers pass the Series 7, which covers stocks, bonds, funds, and other investments Source: Andy Hill
  7. 7. Trader • Similar to a financial advisor in that a trader buys and sells securities, but for their own account (or their firm’s), not directly for clients • There is NO formal education requirement, but most traders have either a Bachelor’s degree or an MBA • Like a stockbroker, you’ll need to pass the rigorous Series 7 exam and either the Series 63 or 66 • Traders can work at banks, asset management firms, hedge funds, or for themselves Wikipedia/ChrisIRA
  8. 8. Quantitative Analyst • Quantitative analysts, or “quants” use mathematical methods to solve financial and risk-management problems • Many quants have a PhD in a non-financial field, such as mathematics, physics, or engineering • The high demand for quants has given rise to “financial engineering” programs in many colleges and universities • Quants are the mathematical “superstars” of finance, and have good programming skills • Quants can specialize in certain areas of finance such as • Risk management • Statistical arbitrage • Derivatives pricing • Algorithmic trading Flickr/Rafael Matsunaga
  9. 9. Investment Banker • Investment bankers perform analysis and give advice to companies, governments, and other entities regarding various investments like M&A deals • Investment bankers usually have an MBA from a competitive institution • Investment bankers need excellent communication skills, both oral and written • Presentations, pitches, and meetings are a big part of the job! Wikimedia/BrokenSphere
  10. 10. Financial Analyst • Financial analysts recommend to their clients when to buy and sell investments • Must be able to analyze and interpret financial statements and other reports • Analysts prepare reports, forecasts, and graphs that are easy for their clients to read and understand • Many work for banks or insurance companies, as well as for brokerage firms • A minimum of a Bachelor’s degree is required, but most have a Master’s in a finance- related field
  11. 11. Starting a career in the stock market can be hard work!
  12. 12. But the payoff can be huge… But the payoff can be huge!
  13. 13. • According to glassdoor.com, some of these careers can be quite lucrative • The top 10% of financial advisors earn more than $166,000 • The average quant or investment banker makes about $100,000 per year • The top traders can earn millions of dollars per year!
  14. 14. Do you have what it takes?