Finance Broker: Career and Salary Facts

Research what it takes to become a finance broker. Learn about education, field of study, job duties, job outlook, and salary to find out if this is the career for you. Schools offering Finance degrees can also be found in these popular choices.

What Does a Finance Broker Do?

Finance brokers connect buyers and sellers in financial markets. They may work as investment bankers, traders, or floor brokers. They connect those wanting to sell securities or commodities to those looking to make investments. A large part of a broker's job is to find clients via networking or referrals from previous customers. They may have to cold-call individuals or businesses and try to sell their services. They also have to follow financial markets closely, analyze companies' finances, and offer advice on certain deals. The following chart gives you an overview about what you need to know about entering this field.

Degree Required Bachelor's degree, Master's preferred
Education Field of Study Business, finance, accounting, economics
Key Responsibilities Make trades, monitor markets, conduct cost analysis
Job Growth (2014-2024) 10% (for all securities, commodities, and financial services sales agents)*
Median Salary (2015) $71,550 (for all securities, commodities, and financial services sales agents)*

Source: *U.S. Bureau of Labor Statistics

What Is a Finance Broker?

According to the U.S. Bureau of Labor Statistics (BLS), types of finance broker include general brokers, floor brokers, financial services sales agents, investment bankers, investing banking sales agents and traders ( In general, brokers connect individuals, companies or institutions that wish to sell or purchase commodities, securities and other financial products.

What Activities Might I Perform?

The BLS indicated that brokers may make trades using computer networks or meet with clients face to face. Part of your job might include cold-calling potential clients as well as maintaining a portfolio of existing clients. Other tasks may include buying and selling securities and commodities as well as providing advice, monitoring markets and conducting cost analyses. You may also be involved with company mergers and acquisitions.

If you're interested in becoming a floor broker, there are two methods of trading, according to the BLS. The first is through electronic exchange markets such as the National Association of Securities Dealers Automated Quotation system (NASDAQ). The second type is referred to as floor trading, such as occurs with the New York Stock Exchange (NYSE).

If you're interested in becoming an investment banker, the BLS stated that your activities would generally focus on connecting businesses with investors. You may also handle initial public offerings, or IPOs, as well as company mergers and acquisitions. Part of your responsibility might include assessing a company's value as well as handling any legal issues that may affect the sale or merger.

If you're interested in a career as an investment banking sales agent and trader, the BLS stated that you would be responsible for the buy-and-sell orders. You may work for a hedge fund or a private equity group; you may work for an investment or commercial bank.

What Salary Could I Expect?

Your salary will depend on where you work, your level of experience, what you trade and other factors - such as bonuses. The BLS wage report for securities, commodities and financial services sales agents indicated that the collective median salary was $71,550 as of May 2015.

A January 2017 salary report from showed that stock brokers earned a median wage per year of $53,444, while the median salary for investment bankers during the same time was $88,354.

What Are Some Related Alternative Careers?

Those interested in becoming a finance broker might also wish to research some related alternative careers which require a similar skill set. For example, financial managers need to have a bachelor's degree and experience to gain employment. They look after the long-term financial health of an organization by developing plans for budgets and investments. Personal financial advisers also need to have a bachelor's degree. They work with individuals to make financial plans, such as for investments, college savings, or taxes. Financial analysts give advice to businesses and individuals looking to make investment decisions. They are also required to have a bachelor's degree in a related field.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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