Real Estate Sales
Everyone talks about real estate markets but few people talk about the people on the front lines. Real Estate agents are paid on a commission basis every time they sell a house. While this is a competitive market and requires a state license, there is no rule that says you need a college degree. Here a state real estate license is more important than a piece of paper stating that you were the king (or queen) of Beer Pong. But before you beginning shopping for luxury cars, let me tell you that starting out, even with a degree may not be the easiest thing in the world. After getting hired and earning your license, you are at the mercy of your new company for quality accounts and floor time. For the hungry career minded individual, however, paying these dues will make you strong for a long and healthy career helping people find their home.
Insurance Sales
That's right, I'm going to do the unheard of, encourage people to consider becoming Insurance Agents. Few people really consider what insurance sales is all about, and many more have preconceived notions about how the business works. In general, agents no longer go door to door seeking sales. Few agents still cold call prospects to generate leads. This position requires a state license which is issued after passing an examination and clearing a background check. Starting out for a larger company is probably the safest bet for a new agent as a larger company can provide more sales support than smaller firms. While largely a commission paid position, there are also agents who work on a salary plus commission basis and even those who are paid a straight salary. Establishing yourself in the insurance industry can put you on the fast track to a career that will pay off in many ways besides financially. Many larger companies hiring unlicensed persons prefer to see a college degree in any major, however, if you work in a people oriented field, that experience could easily set you apart and land you a position. Once you earn your license and get your feet wet, the industry is your oyster.
Stock Broker
It's just a cool title. You know that you want to tell people at parties that you're a stock broker. But before you go and buy that expensive suit and rent "Trading Places" to study up, there are some things you should know. First of all, there are different ways to become a stock broker, but all of them require licensing. That licensing begins with obtaining a state insurance license in your resident state. From there you will go on to study for securities licensing exams administered by the Financial Industry Regulatory Authority (FINRA). Each license you obtain will enable you to sell different products. The normal sequence of licensing exams starts you with the Series 6, followed by the Series 63 and onto the Series 7. Today, many companies require other licenses as well. So if you don't test well, you may want to consider another path. None of the licenses require a college degree and showing up to a company with licenses in hand is a heck of a lot more impressive than a degree in Business from Ted's University and Bait Shop. However, unlike the insurance license, securities licenses require you to be sponsored by a company so you can't just run out and get them on your own. That's probably for the best, since the licensing fees can easily run into the thousands of dollars.
The Direct Approach: If you have 5 years of sales experience in any industry, consider yourself a contender. You can apply to any brokerage house for a job and just keep applying until something sticks. If hired, you will be entered into a training program where you will be mentored for licensing and your career after your licenses are issued. During this period, you will likely receive a salary or stipend to help you get on your feet.
The Indirect Approach: If you do not have 5 years of sales experience, don't fret. You can apply to any insurance company and earn your insurance licenses and get your foot into the financial services industry that way. Most insurance companies also sell securities and so, after you learn how to make a living in sales, you can stick with your insurance company and allow them to sponsor you for your Series 7, allowing you to sell securities for them, or else, with more experience and at least one required license in hand, you can now apply to a larger brokerage firm.
So whatever your reasons for wanting to make a career leap are, these are a couple of occupations you may wish to consider if you are a hungry, motivated individual who has the drive to get ahead.
Published by P.S. Oliver
P.S. Oliver is a Financial Professional living in New York. A U.S. Navy Veteran, P.S. Oliver received his education at the University of Scranton (B.A. Philosophy) and Colorado Technical University (B.S. Bu... View profile
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