Stockbroker in Canada | Job requirements - Job Bank (2024)

FAQs

Stockbroker in Canada | Job requirements - Job Bank? ›

Employment requirements

What Qualification is Needed to Become a Stock Broker in Canada? You'll need a bachelor's degree in finance, business, or economics and must complete the Canadian Securities Course (CSC) to qualify.

The Series 7 exam is also called the General Securities Representative Qualification Exam. You'll get 3 hours and 45 minutes to complete the exam, and it must be taken in-person. There are 135 total questions, but only 125 of these questions are scored. You have to answer 72% of these questions correctly to pass.

Stockbrokers need hard skills in accounting, data forecasting, and financial reporting. Most individuals learn these skills through coursework. Stockbrokers must demonstrate their hard skills by passing a series of licensing exams. Stockbrokers must also know how to use stock monitoring software and graphing software.

How much does a Broker make in Canada? The average broker salary in Canada is $67,851 per year or $34.80 per hour. Entry-level positions start at $50,221 per year, while most experienced workers make up to $103,113 per year.

All stockbrokers in Canada must pass, at a minimum, the CSC (Canadian Securities Course) exam. This examination consists of two parts and 100 multiple-choice questions. It takes four hours to complete, and must be passed with a score of at least 60 percent.

The brokerage industry can be rewarding, but also demanding and stressful.

To become a stockbroker, obtain a bachelor's degree in business, economics, finance, accounting or other related areas, complete an internship, gain sponsorship from a Financial Industry Regulatory Authority (FINRA) firm and pass the licensing General Securities Representative Exam.

One skill every trader needs is the ability to analyze data quickly. There is a lot of math involved in trading, but it is represented through charts with indicators and patterns from technical analysis. Consequently, traders need to develop their analytical skills so they can recognize trends and trends in the charts.

What degree do most stock brokers have? ›

Ideally, a prospective stock broker will earn a bachelor's degree in business or a finance-related discipline such as accounting, economics, finance, business administration, marketing, management, or a similar degree.

Stockbrokers get paid more than most workers. Estimates of the median combined salaries and commissions received by people who sell stocks and other securities to investors range from $62,910 to $149,664 a year.

To become an investment broker, you typically earn a bachelor's degree in a related field, gain professional experience through internships and entry-level roles, complete the Canadian Securities Course, register as a stockbroker, and consider earning additional financial certifications.

The highest-paying jobs in Canada include medical positions like Surgeons, Physicians, Pathologists, Dentists, and Speech Therapists. Some high-paying jobs don't require a Degree or Diploma, like Firefighters, Pilots, and Police Officers.

To be eligible to apply for registration as a real estate broker, you must have been registered and employed as a salesperson for at least 24 of the 36 months immediately preceding the date of the application.

In Canada, anyone in the business of trading securities or advising clients on securities must be registered with the securities regulator in each province or territory where they do business, unless an exemption applies.

To become a stockbroker, obtain a bachelor's degree in business, economics, finance, accounting or other related areas, complete an internship, gain sponsorship from a Financial Industry Regulatory Authority (FINRA) firm and pass the licensing General Securities Representative Exam.

Some states, like California, require either a broker license or law license to even advise a business owner on issues of sale, terms of sale, or introduction of a buyer to a seller for a fee. All Canadian provinces with the exception of Alberta, require a real estate license in order to commence a career.