If you want to pursue your career in stockbroking, you should be blessed with patience, an ambitious outlook, and an analytical mind. The essence of stockbrokers should be a persuasive approach, logical thinking, good business acumen, ready to work even in stretched & stressed hours, and the ability to solve complicated issues. Good communication and interpretation are also essential features to be successful stockbrokers. All these attributes make you the best candidate for a well-paid job.
Stockbroking is the latest career field and demanding job discipline in business and commerce, which are speedily penetrating from metros to smaller towns. A stockbroker plays a vital role in the stock market and is responsible for purchasing and selling securities for clients- individuals and private organisations and institutions.
Being a high-risk field in business, it has in-depth employment potential. Since the Indian economy is thriving and doing business for billions and billions of dollars, brokers are engaging specialists who are economists, accountants, finance managers, financial analysts, investment planners, financial planners and capital market analysts for the work of stock markets.
Recently, Indian stock markets have experienced multifarious developments due to International trading norms, fewer bureaucratic hurdles, and more Foreign Direct Investment (FDI) flow.
Fluctuation is in the essence of the stockbroking market. A stockbroker buys or sells securities on behalf of an institution or individual. Securities traders are the brokers who work for the institution. A stockbroker should have a better update on market conditions.
The minimum qualification to enter the stockbroker field is graduation, along with two years of experience in a reputed stockbroking firm. If you want to make your career in stockbroking, you should have a sound knowledge of commerce, economics, business administration or finance. Some institutes offer courses like stockbroking, capital market, capital investment, investment planning, etc. MA in economics or commerce will also help the person in the stockbroking market. CFA and CA degrees can give you a good start.
The stockbroking career prospect is full of excitement and challenge. Stockbroker offers financial counselling and financial portfolios to their clients. You inform your clients of securities, life insurance, corporate and municipal bonds, mutual funds and certificates of deposits. There are 22 stock exchanges in India, about 7,000 listed companies, 6500 brokers and 538 investment bankers with SEBI. The discipline offers lucrative employment opportunities if you are passionate about stockbroking. The career prospects in stockbroking will further become rewarding when the International players of the field are allowed to do business in India. International agencies and firms hire meritorious brokers for insurance and business work.
Due to affirmative initiatives by SEBI, there is greater transparency in the system, which increases the confidence of foreign investors, mutual funds and individuals. In the LPG era, there are more excellent avenues in broker firms, insurance companies, mutual funds, investment consultancy, and financial institutions.
Stockbroking institutes in India
- Institute of Company Secretaries of India (www.icsi.edu)
- Institute of Capital Market Studies
- All India Centre for Capital Market Studies
- Mumbai Stock Exchange Training Institute
- Institute of Financial and Investment Planning
- Institute of Chartered Financial Analysts of India
- The Orion Institute of Capital Market
- The UTI Institute of Capital Market
How to become a stockbroker?
Stockbroking is a field where there is a greater risk of losing money or making a quick earning quickly. You should have the guts to tolerate both the negative and positive consequences of the stock market field. To become a registered stockbroker, one has to invest about Rs 2.41 crore to get a booking card. For a registered broker with SEBI, you should have another Rs 20-25 lakhs in your pocket.
Stock Broking Jobs
Stockbroking is a very volatile field, so stockbrokers need experienced specialists such as economists, accountants, finance managers, financial analysts, investment planners, financial planners and capital market analysts to facilitate the work of stock markets. As a stockbroker, one can also work as a dealer, advisor or securities analyst. To have a grip on the field, you should be well aware of business finance, mathematics, accountancy, economics and computers.
What are stock brokers’ jobs?
- The skilful brokers are always ready to face the challenging task.
- Stock brokers buy and sell the securities of their clients.
- Security analysts advise the companies on the floatation of shares.
- Stock Brokers also specialise in banks, mutual funds and insurance.
- Investment analysts make companies financial reports, study demand and supply factors, coordinate with organisations and management, and assess the profitability of companies.
- Equity Analysts research the markets and make a platform for better financial investments.
- Offer services for individuals, private and institutional clients.
- He acts as an equity sales advisor. Also, advise for investments and purchase of stocks.
- Since the market trends change rapidly accordingly, review investments.
Stock Brokers Salary
Employment opportunities for stock brokers are available at large broking firms, investment banks, mutual funds, investment consultancies, pension funds, and insurance companies. If you can cope with work in a rigorous schedule and cut-throat competitive environment, a prospect in stock broking is bright. The starting salary for the stockbroker is Rs 20 000 to 25 000. An MBA specialising in finance or other business disciplines will take you to a higher level. To get better remuneration and a good salary package, stockbrokers should get the domain in sales, marketing operations, HR and research. However, for the experienced stockbrokers, the sky is not the limit.