High School

Recommended high school classes include English, speech, marketing, psychology, business, economics, statistics, accounting, mathematics, and database management.

During college, you definitely need to work hard at your studies, but you should also use this time to expand your horizons and get to know yourself and try out new things—not just activities that are directly related to business and finance. “A diversity of experiences can make you a better candidate for whatever you decide to do after college,” advises J.P.Morgan Chase & Co. at its career Web site. “Take a leadership role in extracurricular activities. Study abroad for a semester, maybe two. Learn another language, maybe a third. Edit the school newspaper, play sports, become the campus DJ, join the French club, campaign for someone or something, volunteer, start a nonprofit, act in the school play…do what you love to do.”

Postsecondary Education

You will need at least a bachelor’s degree in business, marketing, sales, mathematics, finance, accounting, or economics from a top-tier college to work as a sales broker. Those with master’s degrees in business administration are more likely to advance to managerial positions. Recommended courses for those interested in investment banking sales, trading, and research include Introduction to Investment Banking, Derivatives, Money Markets, Fixed Income Securities, International Finance, Macroeconomic Policy and Global Capital Markets, Financial Decisions, and Financial Strategy and Tax Planning.

Other Education or Training

Sales brokers who are registered with the Financial Industry Regulatory Authority (the self-regulatory arm of the investment industry) must complete continuing education (CE) classes to renew their licenses. Additionally, the Sales Management Association offers webinars, workshops, and classes that might be useful to sales brokers. Past offerings included Social Strategies for Sales Leaders and New Product Selling: What Works. The CFA Institute, Futures Industry Association, and Securities Industry and Financial Markets Association also provide CE classes, webinars, and workshops. Contact these organizations for more information.

Certification

Colleges and universities such as the University of Pittsburgh, City University of New York-Baruch College, Johns Hopkins University, and the University of Houston provide certificates in investment banking, trading, and related areas. Many other schools provide undergraduate and graduate certificates in sales and marketing. Contact colleges and universities in your area to investigate available programs. 

Certification or Licensing

Some sales brokers earn certification credentials from the CFA Institute (chartered financial analyst credential), CMT Association (chartered market technician certification), American Institute of Certified Public Accountants (certified public accountant), and National Association of Sales Professionals (certified professional sales person).

Investment banks typically require sales brokers to have or eventually receive their Series 7 (General Securities Representative) and Series 63 (Uniform Securities Agent State Law) credentials from the Financial Industry Regulatory Authority. Managers may be required to have the Series 9/10 (General Securities Sales Supervisor) credential. In addition, brokers must be licensed by regulators in the state in which their company does business.

Other Requirements

Sales brokers must pass a background check and a credit check.

Aspiring sales brokers need at least one to two years of experience (e.g., internship, fellowship, employment) in trading or sales at an investment bank, hedge fund, brokerage firm, or related employer. Others have experience in marketing or investment research. 

This is a very client-focused position so you’ll need excellent communication, relationship-building, and interpersonal skills (because you’ll serve as the liaison between traders and clients). You not only need to talk a good game (to bring in business), but also be a good listener in order to understand what the client wants and help them meet their investment goals. Hand-in-hand with communication skills is confidence and a thick skin. You’ll face frequent rejection, and you must be persistent until you make a sale. Sales brokers must be well-dressed in order to send a positive message to current and potential customers. Other important traits include a detail-oriented personality, the ability to multitask and work independently, mathematical and financial acumen, tact (because you’ll sometimes have to say no to clients), strong ethics, a passion for the markets, and knowledge of trading systems, investment analytics tools, and customer relationship management software such as Bloomberg Sell-Side Execution and Order Management Solutions, Bloomberg Trade Order Management Solutions, FactSet, Microsoft Excel, and SalesForce.