Securities & Brokerage
How to become a stockbroker (registered representative)
Trade and advise on securities for clients — the classic Series 7 career, and the one where your employer sponsors the exams that let you do the job.
7 required steps · Free to start
- $78,140
- Median pay
- 3%
- Projected growth
- 38,100
- Openings each year
2024
2024–34
2024–34
Figures from the U.S. Bureau of Labor Statistics, quoted with their framing. Full context and sources below.
The numbers
What the data actually says
Every figure is quoted with the framing its publisher used. Tap a source chip to see exactly what was measured and when we last checked it.
Median pay
$78,140per year
BLS median annual wage for securities, commodities and financial services sales agents (SOC 41-3031) in May 2024 — half earned more, half less. This occupation covers brokerage and bank-based roles together; BLS does not publish separate figures for individual job titles inside it.
Projected growth
3%2024–34
BLS projects employment of securities, commodities and financial services sales agents to grow 3% between 2024 and 2034 — about as fast as the average for all occupations.
Openings each year
38,100projected per year
BLS projects about 38,100 openings a year in this occupation on average over the 2024–34 decade, most from replacing people who move on rather than newly created roles.
The role
What the job actually is
A stockbroker, formally a registered representative, recommends and executes securities transactions for clients at a broker-dealer. It is the career the Series 7 exists for. The defining constraint is sponsorship: the SIE can be taken by anyone, but the Series 7 and the state law exam that follows both require association with a FINRA member firm, so in practice the job comes before the license. Firms hire on aptitude and coachability, then put you through the exams — which is why passing the SIE first is one of the few things a candidate can do unprompted to stand out.
Typical entry-level education is a bachelor's degree, and no prior work experience in a related occupation is listed as typical.
Before you commit
The parts people wish they'd known
This is our read on the career, not a research finding — labelled so you can weigh it accordingly.
Reality check
Our recommendationAt many firms this is a prospecting job
Wirehouse and independent roles typically expect you to build a client base; discount-brokerage and service-desk roles do not. Two people with identical registrations can have completely different jobs.
Ask in the interview what percentage of the first two years is business development. The answer sorts the firm types.
The path
Every step, in order
7 required steps. Sign in and we'll track which ones you've done — several tick themselves as you study.
- 1
Understand what a registered rep does
Recommend and execute securities transactions for clients, inside a broker-dealer.
The title covers very different jobs — a wirehouse trainee, a discount-brokerage phone rep and an independent producer all hold the same registration. Which one you are aiming at changes everything else.
- 2
Pass the SIE before anyone asks you to
The one securities exam you can take with no employer and no sponsor.
FINRA states the SIE is open to anyone 18 or older, that firm association is not required, and that results stay valid for four years. Arriving already holding it is the clearest signal of intent a candidate can send.
- 3
Decide which kind of firm you want
Wirehouse, regional, independent broker-dealer or discount brokerage — very different jobs.
Training quality, salary versus commission, and how much prospecting you do all follow from this choice, not from the license.
- 4
Get hired into a sponsored seat
Trainee, associate or junior rep programs — the firm sponsors your registration.
FINRA requires association with a member firm to sit this qualification exam, so the Series 7 is genuinely not available to you until someone hires you. Getting hired is the step that unlocks the exam, and registration follows once your firm files the application.
- 5
Prepare for the Series 7
The big one: 125 questions in 3 hours 45 minutes, passing score 72.
FINRA's published specification puts it at 125 items over 3 hours 45 minutes with a passing score of 72 and a $395 fee, with the SIE as a corequisite. It is the longest exam in this family and the one firms give you a study window for.
- 6
Pass your state law exam
Series 63 in most states, or Series 66 if you will also give advice for a fee.
FINRA lists the Series 63 at 60 questions in 75 minutes needing 43 correct, with no corequisite — so it can be taken alongside the Series 7 rather than after it.
- 7
Build your client base
How much prospecting you do depends entirely on the firm type you chose.
At a wirehouse this is most of the job; at a discount brokerage clients come to you. This is the single largest difference in day-to-day life between two people holding identical licenses.
- 8
Plan where it leads · optional
Advisory work, management, or specializing in a product area.
Adding a Series 65 or 66 opens fee-based advisory work, which is where much of the industry has moved.
Worth knowing
Things that change your odds
Licensing tip
OfficialThe Series 7 needs an employer. The SIE does not.
FINRA states the SIE is open to anyone 18 or older with no firm association required and results valid for four years, but you must be associated with a member firm to sit a qualification exam like the Series 7.
Pass the SIE while you job-hunt. It is the only part of this license path you control.
Career stat
OfficialA large occupation with steady replacement demand
BLS projects about 38,100 openings a year for securities, commodities and financial services sales agents, most from replacing people who leave rather than growth. The 2024 median wage for the occupation was $78,140.
Turn this into your path
Free account. We track the steps, tell you what's next, and mark off the exam work as you do it.
Transparency
Sources & methodology
Everything quantitative on this page traces to one of these. Where we are giving advice rather than reporting a finding, the card says so.
- U.S. Bureau of Labor Statistics — Occupational Outlook Handbook: Securities, Commodities, and Financial Services Sales AgentsWage data are 2024 medians for SOC 41-3031. Employment projections cover 2024–34 and come from the BLS Employment Projections program. This occupation includes financial services sales agents working in banks and credit unions.
- FINRA — Securities Industry Essentials (SIE) ExamFINRA's own description of SIE eligibility, format and fee.
- FINRA — Series 7 – General Securities Representative ExamFINRA's published exam specification: 125 items, 3 hours 45 minutes, passing score 72, SIE corequisite, $395.
- FINRA — Series 63 – Uniform Securities Agent State Law ExamFINRA's published exam specification: 60 items, 75 minutes, 43 of 60 correct to pass, no corequisite, $147.
Disclosures
Finance Exam Pro is an independent study platform and is not affiliated with, endorsed by, or sponsored by FINRA, NASAA, or any examination sponsor. Licensing and registration requirements vary by role, employer and state, and change over time — confirm current requirements with the relevant regulator before you register. Career progress indicators on this site measure how far through a path you are; they are not predictions of employment. Nothing here is investment, legal, or tax advice.