How to become a Broker

Broker

2,929

jobs advertised

£25,000

estimated starting salary

£60,000

estimated salary

You hate Mondays because you hate your job. You should become a Broker…

Brokers are people or groups of people who work as intermediaries between buyers and sellers. They earn their money by making commission when the transaction has been completed.

There are three main types of Brokers: Full Service Brokers, Discount Brokers and Online Brokers, and they work in a diverse range of industries to help sell a variety of different services and commodities, including mortgages, insurance, and stocks and shares.

Typical duties for a Broker may include:

  • Buying and selling securities for clients
  • Working closely with traders to execute sales
  • Monitoring and analysing the market
  • Making investment recommendations
  • Building and expanding their client base

To become a Broker, you’ll need excellent negotiation and selling skills. As your income will often be dependent on commission, the more deals you close, the more you’ll be able to earn, and this position is incredibly lucrative for those with the gift of the gab.

Having an in-depth knowledge of the financial market will also be essential, allowing you to talk to clients with confidence about any potential investment opportunities and how it could impact them.

Other key skills for a Broker include:

    • Natural business acumen
    • The ability to work well under pressure
    • Confidence
    • Determination
    • Decisiveness
    • Excellent multi-tasking skills

For me, the job is exhilarating. It’s like a sales job dialled up to 10, with the potential to earn huge commission rates to reward all your hard work. I’m not going to lie, it is incredibly fast-paced, and comes with a fair amount of pressure when working with big clients and giving advice about investment. My advice is to roll with the punches and be optimistic. If you’re looking to earn a lot of money, fast, the effort you put in will be well rewarded.

Get qualified

Some employers may prefer you to have a degree in order to start as a Broker, however, an industry-specific qualification and experience in a similar financial capacity could be enough to get started.

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