If you want to pursue your career in stockbroking field, you should bless with patience with ambitious outlook and analytical mind. Persuasive approach, logical thinking, good business acumen, ready to work even in a stretched & stressed hour along with the ability to solve the complicated issues should be the essence of stockbrokers. Good communication and interpretation are also the essential features to be successful stockbrokers. All these attributes lead to make you the fit candidate for the well-paid job.
Stockbroking is the latest career field and demanding job discipline in the realm of business and commerce, which are speedily penetrating from metros to smaller towns. A vital role in the stock market is being played by a stockbroker who is responsible for purchasing and selling of securities for clients- individuals and private organisations and institutions.
Being a high-risk field in business, it has in-depth employment potential. Since, Indian economy is growing robustly and doing the business of billions and billions of dollars, brokers are engaging specialists who are economists, accountants, finance manager, financial analysts, investment planners, financial planners and capital market analysts for the work of stock markets.
In the recent days, Indian stock markets have experienced multifarious developments due to International trading norms, lesser bureaucratic hurdles and more flow of Foreign Direct Investment (FDI).
Fluctuation is in the essence of 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 of market condition.
To enter in the field of stockbroker, the minimum qualification 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 are offering courses like stockbroking, capital market, capital investment, investment planning, etc. MA in economics or commerce will also help the person in stockbroking market. MBA degree with specialisation in finance is beneficial. CFA and CA degree can be giving you a good start.
Stockbroking career prospect is full of excitement and challenge. Stockbroker offers financial counselling and financial portfolios to their clients. You make aware to your clients regarding securities, life insurance, corporate and municipal bonds, mutual funds and certificate of deposits. There are 22 stock exchanges in India along with about 7, 000 listed companies, 6500 brokers and 538 investment bankers with SEBI. If you have a passion of stockbroking, the discipline offers you lucrative employment opportunities. The career prospects in stockbroking will further become rewarding when the International players of the field are allowed to do business in India. The meritorious brokers are being hired by International agencies and firms to carry out the insurance and business work.
Due to affirmative initiatives by SEBI, there is a greater transparency in the system which makes the confidence high to the foreign investors, mutual funds and individuals. Post LPG era, there are greater 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 in a short period of time. You should have to be the guts of tolerating 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 broking card. For registered broker with SEBI, means you should have another Rs 20-25 lakhs in your pocket.
Stock Broking Jobs
Stock broking is a very volatile filed, so the stockbrokers need experienced specialists as economists, accountants, finance manager, 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 in the field, you should be well aware of business finance, mathematics, accountancy, economics and computers.
What are stock brokers jobs?
- The skilful brokers always ready to face the challenging task.
- Stock brokers buy and sell the securities of their clients.
- Security analysts advise the companies on floatation of shares.
- Stock Brokers also show their specialisation with banks, mutual funds and insurance.
- Investment analysts make companies financial reports, study demand and supply factors, coordination with organisation and management, assess profitability of companies.
- Equity Analysts research the markets and made a platform for better financial investments.
- Offer services for individuals, private and institutional clients.
- He acts as an equity sale 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 have the ability to cope up work in a very strict schedule and cut-throat competitive environment; prospect in stock broking is bright. The starting salary for the stockbroker is Rs 20, 000 to 25, 000. Having an MBA with specialisation in finance or other business disciplines will take you at the higher slab. To get a better remuneration and good salary package, the stockbrokers should get specialisation in sale, marketing operation, HR and research. However, for the experienced stockbrokers, the sky is not the limit.