Stockbrokers buy and sell company shares and other tradeable financial instruments. Employment is with financial institutions such as banks, or specialist brokers who represent private clients. A stockbroker must register with the Financial Services Authority, and is regulated by them.
Recruitment in Stockbroking
This is a highly competitive industry full of very driven employees. Working hours are very long, but pay is extremely good. In order to get recruited, candidates will need to display a strong aptitude for their role, and be good at networking. A Stockbroking recruitment agency can be a great help in this regard - matching candidates with the most suitable employers.
Entry into the profession is usually as a Graduate Trainee, with a good degree, and progression comes with experience and specialisation. When recruiting employers usually go through agencies. They are looking for a quick mind, excellent numeracy and an ability to analyse and interpret complex documents and reports.
Areas for Financial Industry employment in the UK
Brokers can be found nationwide, but there is naturally a concentration in and around the City of London - which is one of the world's busiest Financial markets. Leeds is the UK's second biggest financial centre and there is a concentration of posts here too.
What does a Stockbroker earn?
A graduate starting salary is likely to be in the region of £25,000 to £35,000. An more experienced Stockbroker can easily earn £45,000 to £55,000, but the real reward for performance and experience comes in the form of an annual bonus. For experienced Stockbrokers doing a large number of big deals, that bonus can easily be in six figures.