Although beginners usually service the accounts of individual investors, eventually they may handle very large institutional accounts, such as those of banks and pension funds. Some experienced sales representatives become branch office managers and supervise other sales representatives while continuing to provide services for their own customers. A few representatives advance to top management positions or become partners in their firms. Banks and other credit institutions prefer to hire college graduates for financial services sales jobs. A business administration degree with a specialization in finance or a liberal arts degree including courses in accounting, economics, and marketing serves as excellent preparation for this job.
Outstanding performance can lead to promotion to managerial positions.
Due to the highly competitive nature of securities sales work, many beginners leave the occupation because they are unable to establish a sufficient clientele. Once established, however, securities sales representatives have a very strong attachment to their occupation because of high earnings and the considerable investment in training. The demand for securities sales representatives fluctuates, as the economy expands and contracts. Job opportunities for both securities and financial services sales representatives should be best for mature individuals with successful work experience. Opportunities for inexperienced sales representatives should be best in smaller firms.