To become a stock broker, you'll usually earn a bachelor's degree, pass FINRA's Securities Industry Essentials (SIE) exam, get hired by a FINRA member firm and then pass the Series 7 exam. You need both the SIE and the Series 7 for the General Securities Representative registration that lets you buy and sell securities for clients.
Broking is a sales career with a licensing gate, and the order you do things in matters. Here's the route, the exam details and what brokers earn.
Licensing facts come from FINRA's SIE and Series 7 pages. Pay and job figures come from the Bureau of Labor Statistics (BLS) Occupational Outlook Handbook profile for securities, commodities and financial services sales agents. All were read on 26 October 2026.
What a stock broker does
BLS says brokers carry out buy and sell orders for clients and may advise them on stocks, bonds, mutual funds or commodities. Finding clients is a big part of the job. Many brokers build their own client base by calling lists of potential clients, networking or relying on referrals.
The learning doesn't stop after your exams either. BLS says agents must keep up with new products, services and other developments, and some employers require or prefer an MBA for people who want to move up. Plan on steady study for as long as you're in the job.
How to become a stock broker, step by step
- Get a bachelor's degree. BLS says business is a common field, usually with finance, accounting and economics courses. Internships help, and some employers prefer them.
- Pass the SIE. You can take it before you have a job. FINRA says it's open to anyone aged 18 or older and you don't need to be with a firm.
- Join a FINRA member firm. To take a representative-level qualification exam, you must be associated with a member firm that backs your application.
- Pass the Series 7. The SIE is a corequisite. Pass both and you hold the General Securities Representative registration.
- Learn on the job. BLS says employers usually train new hires in securities analysis and selling, and some rotate trainees between departments.
The SIE exam in numbers
| SIE detail | FINRA figure |
|---|---|
| Number of questions | 75 |
| Format | Multiple choice |
| Time allowed | 1 hour and 45 minutes |
| Passing score | 70 |
| Cost | $100 |
| Results valid for | Four years |
The cost is as of October 2026. Passing the SIE on its own doesn't let you do securities business. It's the first step, and a good way to show employers you're serious before you apply.
The retake rule changing in 2027
Here's a detail most guides haven't caught up with. FINRA is cutting its waiting periods for retaking qualification exams from 19 January 2027. After a first or second failed attempt, the wait drops from 30 days to 15 days. After a third, it drops from 180 days to 60 days. If you're booking exams now, a retake after that date gets you back in the chair far sooner.
Stock broker pay
| Measure (BLS, May 2025) | Figure |
|---|---|
| Median pay, securities and financial services sales agents | $78,660 a year |
| Bottom tenth | Less than $48,040 |
| Top tenth | More than $212,880 |
| Median in securities and investments firms | $103,030 |
| Median in credit intermediation (banks and lenders) | $61,720 |
Those figures are as of October 2026. The spread is huge because BLS says wages include sales commissions and bonuses for meeting targets. Credit intermediation employs 54% of these agents, yet it's the lowest-paid industry in the table. If you want broker-level pay, look at securities firms first.
If you're keen to understand investing before you start, our guide to dividend stocks for passive income is a quick primer on one type of investment you'll discuss with clients. Many brokers later move into advising, where a CRM for financial advisors becomes part of daily life.
Where brokers work
BLS counted about 531,000 securities, commodities and financial services sales agents in 2025. Credit intermediation, which means banks and lenders, employs 54% of them. Securities and investment firms come next with about a third, and around 6 in 100 are self-employed. Employers often recommend certification, which BLS says may improve your chances of moving up.
What the job is like
BLS doesn't sugarcoat it: these agents work many hours under stressful conditions, the pace is fast, and managers are demanding because commissions and promotions depend on sales. Most work full time, some more than 40 hours a week, and schedules can include evenings and weekends. Employment is projected to grow 1% from 2025 to 2035, but BLS still expects about 35,100 openings a year as people leave or retire.
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My verdict
If you like markets and don't mind selling, broking is a clear route with no long training period. Take the SIE early, because it's open to anyone 18 or older and costs $100, then use it to land a job at a member firm that will put you through the Series 7. Just go in knowing the first years are about building a client list, and your pay will follow your sales.
Frequently asked questions
What licenses do you need to be a stock broker?
You need to pass the SIE and the Series 7 to get the General Securities Representative registration, according to FINRA.
Can I take the SIE without a job?
Yes. FINRA says the SIE is open to anyone aged 18 or older and you don't need to be with a firm. Results are valid for four years.
Do you need a degree to be a stock broker?
BLS says securities sales agents typically need a bachelor's degree for entry-level jobs.
How much do stock brokers make?
BLS reports a median of $78,660 a year for securities, commodities and financial services sales agents in May 2025, and $103,030 in securities and investment firms.
How long do you wait to retake a FINRA exam?
From 19 January 2027, FINRA's wait drops to 15 days after a first or second failed attempt and 60 days after a third.
How many questions are on the SIE?
FINRA says the SIE has 75 multiple choice questions, a time limit of 1 hour and 45 minutes and a passing score of 70.
Does passing the SIE let me trade for clients?
No. FINRA says passing the SIE alone doesn't qualify you for registration. You also need a qualification exam such as the Series 7 while you're with a member firm.
Is being a stock broker stressful?
BLS says these agents work many hours under stressful conditions, with demanding managers because commissions and promotions depend on sales.
