Securities, commodities and financial services sales agent essential career information:
- 2012 median pay: $71,720
- 2012, number of jobs: 330,470
- Employment growth forecast, 2010-2020: 15 percent
- Entry level education requirements: Bachelor’s degree
Securities, commodities and financial services sales agents; what they do:
If working tirelessly to keep up with the ever-changing forecast and performance in today’s financial markets sounds like an interesting and challenging job, a securities sales agent career is in your future. Securities, commodities and financial services agents buy and sell securities in trading companies and help firms connect with potential investors.
Commodities sales agent careers include completing sales order tickets and client transactions, reaching out to potential clients to give information on available services, advising clients on securities purchases and sales as well as selling and buying securities and commodities such as gold or stocks.
Commodities sales agent careers include monitoring financial markets, reviewing company financial reports to offer recommendations for mergers and acquisitions, and interviewing clients to understand their financial situation and objectives. Commodities sales agents also oversee and evaluate agreements and ensure all securities transactions adhere to all rules and regulations.
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Securities, commodities and financial services sales agent job titles:
- Stock Broker
- Commodities Broker
- Financial Services Agent
- Investment Specialist
- Futures Broker
- Investment Consultant
- Registered Representative
- Investment Executive
- Investment Advisor
Securities, Commodities and Financial Services Sales Agents Education, Certification and License Requirements
Typically, securities, commodities, and financial services sales agents have a bachelor’s degree in finance or business or a related field to begin their career. However, most financial service sales agents complete a Master of Business Administration (MBA) program, especially to enter the higher-level industry jobs where agents can receive better pay and bonuses.
Many employers train commodities agents on the job regarding products and services offered and vital selling strategies.
Licensing is crucial for securities sales agents, especially in keeping up with new trends and products in the industry. Registering with the Financial Industry Regulatory Authority (FINRA) and taking a series of exams can provide the necessary licensure for agents.
A financial services sales agent needs licensure to sell multiple investment services and products such as insurance and securities. Although not mandatory, certification is also encouraged by many employers; the Chartered Financial Analyst Institute (CFA) provides certification. To qualify for the certification, an agent must complete an undergraduate degree, four years of working in the industry and pass three exams.
Securities, commodities and financial services sales agent programs cover subjects such as:
- Managerial economics
- Operations management
- Business analytics
- Business ethics and law
- Corporate finance
- Information technology
Career Advancement Opportunities
Securities, commodities, and financial services sales agents have the opportunity to advance in their careers to higher-level positions by gaining a significant number of accounts or passing different tests in areas such as portfolio management, banking or retirement.
Securities, Commodities and Financial Services Sales Agents Job Outlook
Forecast: 15 percent employment growth for securities, commodities, and financial services sales from 2010 to 2020, about as fast as the average for all occupations. The BLS forecasts strong employment growth for traders and brokers as well as investment banking services.
Consumer use of online trading services has hindered the need of stockbrokers. However, the U.S. a major international financial hub has a need for securities and financial services sales agents.
Securities, Commodities and Financial Services Sales Agents Salary
- 2012 median annual wage: $71,720
- 2012 workers at the 75th percentile annual wage: $138,930
- 2012, workers at the 25th percentile annual wage: $40,890
Securities, Commodities and Financial Services Sales Agents Major Employers
- Securities and commodity contracts intermediation and brokerage sector
- Depository credit intermediation
- Financial investment companies