Information Provided by the Bureau of Labor Statistics Occupational Outlook Handbook
A college degree, sales ability, good interpersonal and communication skills, and a strong desire to succeed are important qualifications. Securities and commodities sales agents must pass licensing exams. Competition for entry-level jobs usually is keen, especially in larger firms; opportunities should be better in smaller firms. Turnover is high for beginning agents, who often are unable to establish a sizable clientele; once established, securities and commodities sales agents have a very strong attachment to their occupation because of their high earnings and considerable investment in training.
On average, Securities, Commodities Sales Agents earn $ 68,500 per year.
Job Opportunities for Securities, Commodities Sales Agents are expected to:
Increase as fast as the average.
Each day, hundreds of billions of dollars change hands on the major United States securities exchanges. This money is used to purchase stocks, bonds, mutual funds, and other financial instruments, called securities. Securities are bought and sold by large institutional investors, wealthy individuals, mutual funds and pension plans, and the general public. In fact, about half of American households own stock. Most securities trades are arranged through securities, commodities, and financial services sales agents, whether they are between individuals with a few hundred dollars to invest or between large institutions having millions of dollars.
A college education is important for securities and commodities sales agents, especially in larger firms, because they must be knowledgeable about economic conditions and trends. Most workers have a bachelors degree in business, finance, accounting, or economics, although this is not necessarily a requirement. Many firms hire summer interns before their last year of college and those who are most successful are offered full-time jobs after they graduate.
Securities, commodities, and financial services sales agents held about 320,000 jobs in 2006. More than half of jobs were in the securities, commodity contracts, and other financial investments and related activities industry. One in 5 worked in the depository and nondepository credit intermediation industries, which include commercial banks, savings institutions, and credit unions. About 1 out of 6 securities, commodities, and financial services sales agents were self-employed.
