Difference b/w sales-trader and stock broker?
What's the difference between an equities sales-trader and a stockbroker? The volume and the types of clients?
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a sales-trader actually trades for its clients vs a stock broker who only executes..am not sure though...volume depends on how big a broker you are..
Generally speaking the broker's job is to pitch the firm's research to clients, and clients will trade through the firm as a way to pay for research. The traders actually take the orders and its their job to get the trade done at the price the client wants.
one barely requires a high school degree, the other is a good job
I hope my best friend's son can get that job.
He has a 2.95 GPA in general education at a community college, but he's making it up in his major courses of his pre-biology major. He originally wanted to become a physician, but he expressed his fears about socialized medicine making it impossible for him to do a good job while earning a decent living. He then though of become a PhD like myself, but he doesn't want to spend years earning $20,000 year just to get qualified for a real job.
But he still wants to major in biology, simply because the material interests him.
He's expressed an interest in the financial markets ever since I've known him. He understands how to read charts and has made over 35% on his own account since starting it a few months ago.
What should he do to overcome his GPA?
Take some classes at a local community college and build an "alternative" transcript.
What do you mean by alternative transcript?
If he shines in his major courses, and ends up w/ a 3.5 GPA in them, wouldn't that overshadow his GE?
Should he try a prop trading firm (a real one, not a arcade), and then try to move from there to an IB as a flow trader once he gets enough experience and some strong LoRs?
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