- 1). Obtain a four-year degree. Although a trader hired by a Wall Street investment bank is not absolutely required to have a four-year degree, very few traders lack one. Those who receive a four-year degree generally major in a relevant field, such as economics, mathematics or business. While in college, many will take internships or summer jobs with investment firms to get real-world experience and make themselves more attractive job candidates upon graduation. Many will also go on to receive an MBA degree.
- 2). Get an entry-level position with an investment bank. While there are many career paths to the trading desk of a Wall Street firm, the most direct is to get hired by an investment bank or other financial firm with a large trading desk. Rarely do students fresh out of college or business school get put into a position in which they are allowed to execute trades. Rather, they will take an entry-level position as an analyst or assistant.
- 3). Pass your Series 7 exam. While not all traders are licensed as brokers, as a cost-saving measure, many financial firms do require that traders receive licenses. To receive a license, prospective brokers must pass the Series 7 examination administered by the Financial Industry Regulatory Authority. To take the exam, a trader must be sponsored by a firm registered with FINRA. In addition, many states require brokers to take a second exam, the Uniform Securities Agents State Law Examination.
- 4). Get moved onto the trading desk. If a prospective trader is able to receive her license as a broker and distinguishes herself in the firm, there is a good chance that, if she requests it, she will be moved onto the firm's trading desk when a spot becomes available. This will allow her to develop trading strategies and execute trades on the firm's behalf.