Finishing school this year, looking to getting into stockbroking.

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Robbey

Robbey

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Jul 27, 2010
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Hey guys

I finish VCE this year and am really interested into getting into stockbroking next year. I have asked numerous universities on what course would be best suited to get into this field, and they all said the 'Banking & Finance' course would do great. Anyways, I applied the other week for my uni's and I was just wondering whether or not the University you went to plays a big roll in getting a job in the desired course.

For example..Banking & Finance at Monash Clayton wants a 83% atar score where as Banking & Finance/International Trade at Victoria University only asks for 61% atar score. What's the difference? they are exactly the same course yet there is a near 22% difference in scores to get into them. After university when applying for a job with one of the banks, do they look at the uni you went to? or is it mainly contacts and your knowledge in general?

Also does anyone have any other tips I could do besides from University to get into the stockbroking field

thanks
 
Robbey said:
Hey guys

I finish VCE this year and am really interested into getting into stockbroking next year. I have asked numerous universities on what course would be best suited to get into this field, and they all said the 'Banking & Finance' course would do great. Anyways, I applied the other week for my uni's and I was just wondering whether or not the University you went to plays a big roll in getting a job in the desired course.

For example..Banking & Finance at Monash Clayton wants a 83% atar score where as Banking & Finance/International Trade at Victoria University only asks for 61% atar score. What's the difference? they are exactly the same course yet there is a near 22% difference in scores to get into them. After university when applying for a job with one of the banks, do they look at the uni you went to? or is it mainly contacts and your knowledge in general?

Also does anyone have any other tips I could do besides from University to get into the stockbroking field

thanks
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Careers counsellors at under-grad/high school level are invariably semi-*ed glorified admin workers. If you know anyone working in the field talk to them directly. Do some research on firms websites when they talk about grad programs etc.

If u want to work in stockbroking/investment banking get a commerce degree majoring in finance. double degrees are looked favourably on, so things like commerce/law are an option however you're going to need a decent enter score.

the university you go to will matter. I'm guessing if you're going to Vic Uni and are applying at JBWere or something they won't even bother reading your application.

But in reality this is inconsequential as if you can't get an 83 in VCE you're very unlikely to get a job as a stock-broker anyway.

Why do u want to be a stock-broker?
 

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This is a field where you build a reputation on and your career will go where ever you take it. Its not like a docter or lawyer where credentials are everything. Reputation is important. All you can learn from Uni is the basics for this particular job. You'll learn what stuff is and about business law etc.

You could go to any Uni, learn the basics, as long as you can talk the talk when you get out. Then you can say you went to any Uni you can think of. You'll be on even footing with everyone, whether you went to Uni or not
 
Maybe 20 years ago this was the case.

Demand for these type of jobs is huge. They need some way of sorting out who gets the initial graduate positions. It's once you get these jobs that you get a chance to get on the job knowledge, get contacts and build your rep. Without getting your foot in the door you don't get this chance.

What grades and what university you went to are relevant factors in hiring.
 
I am currently doing banking and finance at Monash Caulfield and I'm also looking to go into stockbroking or something to do with managing investments and portfolios. There are some pretty fun subjects where there is simulated trading and I hear they even have a simulation trading floor but I'm yet to do that subject.
 
Cooee Cobber said:
I am currently doing banking and finance at Monash Caulfield and I'm also looking to go into stockbroking or something to do with managing investments and portfolios. There are some pretty fun subjects where there is simulated trading and I hear they even have a simulation trading floor but I'm yet to do that subject.
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How hard is the maths? I'm thinking of switching to finance. I haven't done maths since year 10 but I'm good at stock related info.
 
r dub 19 said:
How hard is the maths? I'm thinking of switching to finance. I haven't done maths since year 10 but I'm good at stock related info.
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The maths isn't too bad. It involves a lot of formulas but they give you formula sheets and don't expect you to memorise them all. There is a financial calculator that makes things easier too. Also depends on the subject and the share market related subjects are pretty easy. Some of the maths is done in Excel so it's an advantage if you are familiar with it.
 
To get into the equities (broking) team of an investment bank straight out of uni you pretty much need to have done either Commerce/Law or Comm (finance honours) at Melbourne Uni and be the top of your class. The other courses (ie Banking&Finance Monash) may get you in to one of the smaller broking houses, and you can then move into the bigger banks if you turn out to be any good at picking and pushing stocks.

But to be honest make sure you either apply to Melbourne or Monash, as I haven't met anyone under 25 from any other uni working in broking.

But there are many ways to get into broking. You can start off in an accounting firm, get your CA, then jump across into broking if you know what you are talking about. At your age just try and start by getting a good grip of the global economy, who makes what, where money/product is flowing, and how different economic events will influence different sectors. Once you understand that, then you can start talking individual stocks.
 
The banks won't care so long as you have a degree and it's not the University of Nigeria (which is next door to the Bank of Nigeria!!!). It's very difficult to walk into a broking firm out of uni these days however I would suggest getting into wholesale Treasury at one of the banks in the money market ot currency side of things and then branch out from there.

All the best with it. You may find after a couple of years at uni that stockbroking isn't for you anyway.
 
burto said:
To get into the equities (broking) team of an investment bank straight out of uni you pretty much need to have done either Commerce/Law or Comm (finance honours) at Melbourne Uni and be the top of your class. The other courses (ie Banking&Finance Monash) may get you in to one of the smaller broking houses, and you can then move into the bigger banks if you turn out to be any good at picking and pushing stocks.

But to be honest make sure you either apply to Melbourne or Monash, as I haven't met anyone under 25 from any other uni working in broking.
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/thread

If they are going to be paying u $100k+ bonus first year out of uni, they are only going to take the very best. You'll also be working very hard for your money.

Alot of the IB's will have recruitment expo's at Monash/Melbourne. They don't do them anywhere else. I think this is indicative of where they want to source their grads.
 
Nobody has mentioned that a sales course/experience would also help. A big part of the business is bringing in new clients and sales skills are highly regarded and you will find it is the ace up your sleeve against other applicants. If i were in your position there are 3 things i would be obtaining:

1. Related degree, ie. commerce, finance, etc
2. RG 146
3. Sales course

Then i would start low by picking the company of my choice and calling their human resources manager and offering to work there for a month for free. If you can make a good impression in that time you shouldn't have trouble getting something like an adviser assistant position with them after that. Once you have a year under your belt you should be able to talk enough s**t to get yourself a higher position at another company. By the time you are 25 you have enough qualifications and experience to have the world at your feet.

Good luck
 

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I recommend doing a Commerce at Deakin University - major in Finance and Financial Planning. It's one of the few courses recognised by ASIC, by completing those majors you will be RG146 qualified in Equity & Investment Analysis, Superannuation and Financial Planning.

Having RG146 qualifications will be a huge leg up on Melbourne Uni or Monash grads who don't have these qualifications. Look to get experience in a brokerage firm but expect to do menial jobs helping senior brokers/advisers for a number of years - administration, placing trades, phone calls, etc.

Realisitically, few people are going to take investment advice from someone with little experience, so until you've got 5-10 years experience it's unlikely you will be in a 'client-facing' role.
 
jimmynibler said:
I recommend doing a Commerce at Deakin University - major in Finance and Financial Planning. It's one of the few courses recognised by ASIC, by completing those majors you will be RG146 qualified in Equity & Investment Analysis, Superannuation and Financial Planning.

Having RG146 qualifications will be a huge leg up on Melbourne Uni or Monash grads who don't have these qualifications. Look to get experience in a brokerage firm but expect to do menial jobs helping senior brokers/advisers for a number of years - administration, placing trades, phone calls, etc.
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lulz maybe you're RG146 qualified but finance at deakin is a joke and i'm someone that's done it.

wut's a derivative?
 
checkraiseulite said:
lulz maybe you're RG146 qualified but finance at deakin is a joke and i'm someone that's done it.

wut's a derivative?
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Doesn't really matter - you learn more in your first year of the working than your time at uni anyway. At least the Deakin degree gives you the certifications which employers are looking for. It definitely helped me get my first job.
 
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