How to Become a Broker

How to Become a Broker

In our review of different careers we take a look at how to become a broker. A broker in the true sense of the word is someone who buys and sells goods or assets on behalf os someone else, via negotiation, typically for a commission.

What Does a Broker Do?

When people are making investments a broker will act as a middleman between the person doing the investing and the securities that they are investing in.  The broker is the intermediary between the investor and the investing world.

As the broker, you would make your money through various fees, such as advisory fees, brokerage commissions and service charges.

Becoming a broker can involve long hours and hard work but can be extremely financially rewarding if you are successful.

Is Becoming a Broker Right For Me?

As a broker you will need to:

  • Be excellent at negotiating and selling.
  • Confident.
  • Assertive.
  • A decision maker.
  • Have in depth knowledge of financial markets.
  • Work well under pressure.

How Much Can a Broker Earn?

The starting salary for a broker will be approximately £25,000 with realistic earnings potential of up to £60,000.  Much of what a broker will earn is commission based.

What Qualifications Do I Need To Become a Broker?

Most employers will prefer you to have a degree, however, this is not a requirement and you may be able to get a job as a broker with an industry specific qualification and/or relevant work experience.