The profession of broker
A broker acts as an intermediary between a buyer and a seller. They enable companies and individuals to purchase any type of financial asset.
They operate in many areas, including insurance, real estate and energy. Working in close partnership with a trader, a broker’s main role is to offer their clients the best prices through their market studies. To become a broker, applicants must complete five years of post-secondary education in trade or finance.
Université Paris Dauphine – PSL offers a Master's Degree in Finance to provide future graduates with advanced knowledge in finance and management techniques.
Role and missions of a broker
A broker analyzes variations in the market before making decisions to sell or buy an asset on behalf of their client or company. They must bring buyer and seller together without taking sides with any party.
Daily
tasks
A broker will do the following on a daily basis:
- Monitor and analyze the market to determine the best offers
- Advise the client or company
- Negotiate prices
- Follow up on signed contracts
- Manage stock market transactions
- Carry out prospection
- Send client order to the markets
Salaries and career development
The median gross annual salary for brokers with a university degree in €61,157. A broker does not act on their own behalf, and is paid on commission. During their career, brokers may work as director of a brokerage firm, for an international firm or as freelance operator. Note that freelance brokerage work is regulated in France and requires authorization from the Autorité des Marchés Financiers (French financial markets authority).
Skills
required
- Legal skills
- Knowledge of financial markets
- In-depth knowledge in the field where the broker operates
- Computer science skills
- Commercial mindset
- Ability to listen
- Excellent interpersonal skills
- Ability to withstand stress
- Demonstrate responsiveness and tenacity
- Ability to work independently
Which studies to become a broker?
There is no specialized academic path to become a broker. However, applicants must complete five years of post-secondary education in order to learn all aspects of the profession and be able to apply for high-level positions. A Master’s Degree in law, insurance or finance could lead future graduates to the position of broker.
Note that applicants with a background in finance specialization, such as the Master’s degree offered by Université Paris Dauphine – PSL are highly sought-after by recruiters.
Program to become a broker at Université Paris Dauphine – PSL
The Master's degree in Finance offered by Université Paris Dauphine – PSL enables students to develop all the knowledge and skills needed to become a broker. This high-level program offers future graduates the in-depth technical skills for each professional sector, as well as advanced knowledge of financial markets.
For applicants wishing to become a broker, the Financial Markets specialization provides in-depth study of quantitative strategies, and risk management, as well as technical skills in computer science.