Becoming a floor broker at the NYSE

Discussion in 'Professional Trading' started by koko2, Jun 1, 2003.

  1. koko2


    Does anybody know anything about being a floor broker on the NYSE? What do they do? How much do they make? Salary? Bonus? Is it easy to make contacts to find other related jobs in the industry from there?

    Do you think floor brokers will be around for long with the trend of everything going computerized?

    I know I already posted this subject as a thread, but in haste I wrote a thread title that wasn't really clear and the time limit already passed to edit the post. The administrator can feel free to delete the other thread.
  2. RichSohn


    Unless you've got connections, you need to start from the bottom (ie..a runner or a clerk). You can always gun for positions at less popular exchanges. I hear options and futures floor trader positions aren't as competitive as those on the NYSE.

    However, you're simply processing client orders most of the time. I'm not sure what the extent of the upside is.

  3. Ebo


    Spend a day or a week on the floor watching what a clerk does.

    You could always buy a NYSE seat for $1.6MM and see if you like it!
  4. jlcarey1


    I used to work on the floor of the NYSE. RichSohn is correct. Basically, you need to start off as a runner and pay your dues. It is an interesting position and you will meet alot of characters down there. If you want to advance quickly, all you need to do is ask around and be friendly to the senior members. If they like you, you will be promoted quickly.

    Check out all of the major players down there. Send resumes and hopefully things will work out for you.

    Just remember one thing: Wear very soft and comfortable shoes or sneakers, because your feet will be in pain. Standing up all day sucks.

    Good Luck.