We often assume that once normal business hours have ended, the shop closes and everyone goes home. This is where we tend to sell ourselves short in regard to our careers. No, everything isn’t open to the public, per se, but business certainly rolls on after hours for many industries.
This method of trading was originally used by institutional investors until the 1990s. Buying stocks after hours, also known as after-hours trading, takes place from 4:00 p.m. to 8:00 p.m. Eastern Time. The trades conducted during after-hour sessions are completed through electronic exchanges. Electronic communication networks (ECNs) are used to match potential buyers and sellers, unlike traditional exchanges. This allows investors more flexibility to make a move after they’ve watched their nightly world news.
To some, stocks are just a component of their investment or retirement portfolio. To others, the stock market is their primary source of income. Trading stocks is often viewed as a gamble. However, there are many successful individuals who do this for a living and make substantial profits. There are many successful day traders who have not obtained bachelor’s or master’s degrees in finance or investments. Instead, they have managed to make themselves more marketable to employers because they possess a working knowledge of the industry.
That said, you can understand why a 2018 study determined that careers in the investment or banking sector will increase by 4% during 2018-2028. With just basic knowledge of the stock market, it should help determine which career in this sector would suit you. Although most of the positions require a bachelor’s degree or higher, there are also several entry-level positions that are equally valuable in the stock market.
An entry-level proprietary trader is one who buys and sells financial products on behalf of the bank or firm in which they represent. These traders use the capital of the firm for their transactions. The products they trade are usually derivatives or other complex investment instruments. This position may require as little as a series 7 and 57 certificate. This could be accomplished through a certificate program that may incur some out of pocket expenses. However, most employers are willing to help pay for the costs.
On the other hand, a lot of companies offer a paid training program for their commission-based stock/options trader or foreign currency (FOREX) trader positions. These traders manage simpler investment vehicles like individual stocks, options contracts, futures contracts, and foreign currencies with the firm’s capital and also on behalf of the firm. They often earn the majority share of the profits through their commissions.
Day trader positions, as mentioned above, are considered retail traders versus proprietary traders. They trade on behalf of the client using the capital of the client. They often work part-time if the trader is employed by a firm. Due to pre-market and post-market trading, many companies offer virtual/remote positions. They train their candidates specifically on how to capitalize on market inefficiencies.
With the equivalent experience of a bachelor’s degree, one could become an investment counselor. This position requires that the ideal candidate has finance experience and a thorough understanding of the investment industry. An investment counselor will gain on-the-job finance and capital market education. They are responsible for making internal portfolio decisions. They generally have an auxiliary research team that handles the actual portfolios of their clients.
Sales and marketing companies are not alone in measuring the effectiveness of their products or services, as well as the ease of use on their website or platform. An internet analytics specialist is someone that knows and understands a data-driven environment and has the ability to effectively communicate the results. Most companies that operate online have software that is used to automatically record user activities. They then transform that information into statistical data and graphs. This allows the specialist to see:
- first-time visitors/investors
- return visitors/investors
- their location
- the length of their session
- stocks and articles viewed, etc.
All of these positions, with the exception of an investment counselor, can be available for an after-hours trading shift. This is a great way to realize your potential in a new field or a way to supplement your current income.