Whether the markets are up or down, the competition for stockbroker positions is intense. You might think that an Ivy League education or financial prowess will give you a hiring advantage. Not necessarily. Investment firms are seeking people who work well under pressure, are team players, can meet tough sales goals and can face almost constant rejection with aplomb. The tips below show how you can improve your chances of getting that job as a stockbroker.
Stockbrokers are salespeople, not analysts or advisors
This is a fundamental, and important, point to remember. Stockbrokers (aka: Registered Representatives, Investment Advisors) meet the public, learn about their investment needs, and sell them investments that are usually recommended by their firms. They are salespeople. Of course, they have some latitude with which particular flavor of investment they will recommend, but the stockbroker’s primary duty is to make the sale. If you’re not now entirely turned-off, and are still reading, below is a path to getting the job:
Short and punchy resume
Managers and recruiters read hundreds of resumes a week. Make yours short and sweet and punchy so it will jump out. Include any sales experience and experience with fast-paced, entrepreneurial positions. Slant your past duties and responsibilities toward a “results oriented” flavor unless they were clearly not. If you played any sports in college, or if you play any sports now, include that. Sports experience is important as it shows your aptitude for working as a team player, a very important quality for a stockbroker.
Outstanding cover letter
This is almost more important than a targeted resume. Avoid the tired phrases. Stress how personable you are; how convincing and persuasive you can be, how well you relate to all types of people. Drive home the point that people tend to trust you and follow your suggestions. Mention that coworkers tend to seek you out for advice, that you thrive under pressure, and believe that results matter most of all.
Get discovered
Unless you have prior experience as a stockbroker, forget the personnel headhunter outfits. They only deal with experienced brokers; your resume will be discarded immediately. Instead, go directly and personally to the local branch offices of the investment firms and bring your cover letter and resume. Ask to speak with the branch manager (see The Interview section below for proper dress first).
You’ll probably not be able to see the manager on that visit. Sincerely thank the “gate keeper” employee and ask when would be a better time. If possible, make an appointment on the spot. If that’s not possible, come back during the suggested time and ask to see the branch manager again. Repeat all this a third time if necessary. If your third visit fails to get you in front of the manager, leave your cover letter and resume and arrange for it to be delivered to the manager.
The repeated visits will be noted and probably relayed to the manager who should get the idea you are very serious about getting this job. Hopefully you’ll be called in for an interview — if not, try visiting the branch office again and asking for one. If all else fails you should begin mailing your cover letter and resume to other offices outside your area.
The interview
Look the part: wear a pinstripe, chalk-stripe or solid dark gray or dark blue suit, conservative tie and black wing tip shoes. Make sure to have a modest, fairly short haircut, no visible tattoos, no earrings. Give a classic firm handshake and display an overall confident demeanor. Conveying self-confidence is very important. Be relaxed but alert. Answer questions directly and maintain eye contact. Remember, this is an audition to show how well you relate to people under potentially stressful conditions.
When you have an opportunity, mention your excellent work ethic and how you are not easily discouraged and that, if hired, you will find a way to meet your and the firm’s goals, no matter what. Touch on all the important points you mentioned in your cover letter. Finally, mention that you really, really want the job and ask when you might hear from them. Get the interviewer’s business card, and the branch manager’s card, also, if you did not meet him / her. Thank the interviewer.
Write and mail or deliver a thank you letter the next day
Your thank you letter should be concise and should begin by actually thanking the interviewer for meeting with you. It should also be a reiteration of your qualifications and a summary of why you should get the job. Lastly, mention why you would be a good fit for the firm and what you could do for them. Sign off by saying, once again, how much you want the position. Mail the letter the day after the interview or hand-deliver it.
Sources: Personal experience
Princeton Review http://www.princetonreview.com/Careers.aspx?cid=150