Stock Traders (also known as Equity Traders and Stockbrokers), buy or sell stocks, shares, or other securities on the stock exchange on behalf of their clients. Traders use all the information available and speculate the optimal time to buy or sell a share.
If you could sell ice to an Eskimo, have a good grip on economics and finances, can stay calm and focused at times of stress and in a busy environment, and if you could see yourself confidently making decisions with someone else’s money and don’t mind working long hours, you could be a Stock Trader in the making.
About you:
- Great head for figures
- Plenty of initiative and confidence
- An analytical mind with attention to detail
- Lots of self-motivation
- Strong competitive drive
- Language skills an advantage when dealing with clients globally
The job:
- Research stocks and shares
- Keep up to date with financial news
- Consult investment analysts
- Reporting to clients
- Managing, recording and tracking investment portfolios
- Pitch for new clients
Lifestyle Impact: Moderate
- Part Time opportunities: Low – only around 16% of Stock Traders work part-time (source: labourmarketinsights.gov.au).
- Average hours for full-time workers: 51 hours a week, which is above average (source: labourmarketinsights.gov.au).
- Stock Traders’ salary (median) $140,000* per year (source: ato.gov.au). *Salaries greatly vary depending on your skills and experience.
- Future career growth: Stable (source: labourmarketinsights.gov.au).
- You will be doing most of your work indoors.
- You’ll be at the mercy of the stock market, so expect times when money isn’t always flowing.
- You will likely need to work long hours, and at odd times, including mornings and nights, and on holidays and weekends.
Stock Traders are most in demand in these locations:
A large majority of Stock Traders work in metropolitan areas. Most Stock Traders work in the Financial and Insurance Services industry.
How to become a Stock Trader in Australia
Although having a formal qualification isn’t necessary to work as a Stock Trader, having one is highly desirable.
Step 1 – Complete Year 12 with a focus on English and Maths. Business subjects can also be helpful.
Step 2 – Consider completing a relevant undergraduate degree in business, mathematics, economics, or finance.
Step 3 – Find a company that will be willing to take you on as an intern or trainee to teach you the ropes of stock trading.
Step 4 – If you want to provide financial advice, you will likely need to apply for an AFS license, and complete a RG146 Compliance Course.
Step 5 – Once you have lots of experience, consider starting your own business.
Find out more here –
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Accountant
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Financial Advisor
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Business Development Manager
Bookkeeper
Find out more about alternative careers.
Frequently Asked Questions (FAQs)
What options are there for career progression?
You might start out as a trainee or intern, before moving your way up and trading large amounts of money. You might like to start up your own trading business, or provide advice to others looking to get into stock trading.
Do I need to go to university to become a Stock Trader?
Not necessarily, but without a qualification you’ll need to work hard and get lots of hands-on experience.
Where do Stock Traders work?
Stock Traders usually work for private companies, either in an office setting or even from home.
What are 3 things I can do right now to help me become a Stock Trader?
If you’re in high school and you’d like to find out if a career as a Stock Trader is right for you, here’s a few things you could do right now:
- Start learning to manage your money effectively. Open a bank account and set a budget for yourself. Start learning about stock markets, investing, and economics.
- See if you can find work experience in business or finance. This will help you see if you might enjoy the work, and can help you start building important contacts for the future.
- Talk to a Stock Trader to see what a day in their life is like. If you don’t know anyone, see if you can watch videos or documentaries about a career in finance.
