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Is it realistic, to be a part time stock broker and full time mba student in NYC?


Is there a benefit to getting a series 6 or 7 (become stock broker) while attending B-school for my MBA? I have a undergrad degree in education but I want to go into consulting or finance. I have three yrs experience in real estate and now, I want to change career. However, I don't want to be considered an entry level candidate once I complete my degree (which means less pay) so I want to work part time as stock broker while attending business school to make up for my lack of experience in investing. Is it a good idea? If not, what do you suggest? Plus I'm paying out of pocket = (

Only if you know or can find people who will let you manage a large amount of wealth.

If not, you might make an arrangement with a brokerage team or partner, where you receive a payout commensurate with the amount of business you do or your assets under management. Typically, it is difficult for a newbie to hang-on full time, unless you can do at LEAST $200K (gross commissions and fees) or more your first year. It is probably even higher in NY. Find a firm you like and talk with a manager about what kind of time you could commit, what kind of payout you would accept until you get out of your MBA program, and other requirements.

You might also work an arrangement where you could be a part-time registered assistant (there is some demand for this) until you graduate. Try to find a successful team that is between needing another full-time assistant, yet is leaving potential production on the table. Try to get any agreement in writing, before you make a commitment! Also check and see if NYC has an integrated CFP program or any classes that would count toward that! Many colleges and universities have these now.

It is a very demanding job, so be careful not to let your grades falter. If you can possibly wait, I would suggest it. To the firm, it is all about sales and you will have to be extremely organized and judicious with your time!

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