Career Profile: Securities Sales and Trading
 Securities sales and trading is a demanding and fast-paced profession that requires an analytical mind, inclination for number crunching, and the ability to work well under intense pressure. Despite the challenges it may present to the average person, those who work in securities sales and trading thrive off of the constant adrenaline rush facing them on a daily basis and the rewarding income top-performers earn. Investment banking firms depend heavily on their securities sales and trading staff because they are responsible for selling bonds and shares to investors for companies the firm underwrites for.
Securities salespeople and traders are involved with selling financial products around exchanges such as the New York Stock Exchange and NASDAQ. Working as independent agents, securities salespeople and traders earn commission of a portion of the profits they generate for the investment firm. Salespeople, or “brokers” as they are commonly referred to on the investment floor, build a book of clients to sell shares of stock and bonds to that meet their investment needs. Traders, on the other hand, carry out the transactions and manage their firm’s investments in stocks and bonds.
Working on the frontlines in exchanges, securities salespeople and traders act quickly and decisively when making investment decisions, often times involving six-figure decisions that can earn substantial returns or loose it all. Considering the financial responsibility, both brokers and salespeople need to be well-versed in the market, assess risk, and able to handle big decisions under time-constrained deadlines.
Current and future securities salespeople and traders are not required to possess any formal education per se; however it usually makes them more competitive and able to climb the corporate ranks faster. But in order to sell securities, they must be licensed in accordance with the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission (SEC) according to their scope of financial products they wish to sell.
For instance, most brokers must pass the Series 7 general Security Sales License Exam to sell almost any kind of security. If they wish to sell commodities, they must pass the Series 3. And to remain in compliance with state laws, most brokers are also required to pass their Series 63. If they wish to become managers they must also pass their Series 8 in order to oversee branch activities.
The career track for brokers and traders includes working as a representative for an investment firm, managing a branch, working as a floor trader on the exchanges, or even as a desk trader where they work from a desk as the title implies, instead of directly on a market floor, such as the New York Stock Exchange.
Job growth through 2014 for brokers and traders is expected to remain about average as compared job growth overall. Competition will remain fierce and only the top-performers will remain in the industry as it famously embodies a high-turnover and burn out rate, with many professionals exiting the occupation before they reach middle-age.
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