Stock Broker Career
The Stock Broker Career is a pretty unpredictable place, It is always exposed to high rates of Fluctuation and high degree of volatility. Prices fluctuate within minutes and are determined by demand and supply of stocks at a given time.
Stock Broker Career are required to be in constant touch of clients, inform them of market movements and advise them on the amount of risk they should take.
Brokers& traders purchase and sell securities. Brokers are sales agents, working either for a brokerage firm or on their own behalf. Traders tend to work for a large investment firm, buy & sell or trade securities on behalf of the assets managed by that firm.
Stock Broker Career tend to have direct contact with clients, either individual or institutional, and buy & sell securities according to the client’s wishes. As a Stockbroker, You have to simplify stockmarket terms & trading practices for our client, offer financial counselling and also devise financial portfolios.
As a stockbroker, your job as a dealer involves contacting clients and executing the deal that has been closed. You should be good at sourcing information. Buying and selling involves convincing clients to buy or sell shares to a client, a big organisation or retail investor.
All the Stock Broker Career operations today are computerised, with highly trained and qualified specialists keeping a close watch on the market. You can survive in the stock broking career only if you have a knack of thinking on your feet and being adaptable in an ever-changing environment.
- A Stockbroker must understand the pulse of Nifty & Sensex.
- A Stockbroker must be trustworthy & must have integrity in order to not jeopardize the client’s reputation and hurt the client’s prospects.
- Must have sound judgement and confidence , both are invaluable assets for a Stockbroker
- Critical problem solving ability is very essential
- He/ she must be a critical thinker
- A stockbroker must have excellent communication skills, both verbal & written forms in order to explain clearly to the clients.
- They must be self motivated individuals.
- A Stockbroker must be fit enough to handle long working hours and the stress that comes with it.
- Number crunching is a daily task, hence a Stockbroker must be very good with numbers.
- Strong interpersonal skills are very essential and important.
- A Stockbroker must have in-depth knowledge of Financial markets.
- Strong analytical skills will go a long way since one of the main duty of a Stockbroker is to analyze hundreds of stocks on a daily basis.
The average salary which a Stock Broker Career commands is between 3,50,000 INR to 4,00,000 INR per annum.
But then there is no upper limit for a stock broker to earn.
In order to command a better remuneration and excellent salary package, The Stockbrokers must get specialization in Marketing operation, Sales, HR & Research.
- There is huge scope and opportunity for Stock Broker Career option in India, With more than 7000 listed companies.
- There are about 20 active stock exchanges in India, 6500 brokers & 538 investment bankers registered with the SEBI.
- Prospects for the stock broking business are bright and for those who are qualified to handle this business and have the necessary personality traits to cope with it, the job openings are many.
- A Stock broker may also find employment with Newspapers, magazines and Media channels to prepare Market reports & Analysis.
How Do I get There ?
- The candidate needs to be of a minimum age of 21 years.
- The candidate ,in order to be a stockbroker, must have have completed his/ her graduation and must have worked 2 years in a stock broking firm.
- A Sub-broker must have passed his/ her 12th as the minimum eligibility criteria to be a Sub-Broker.
- Although there aren’t any stock broking courses as such, One needs to have a background in the specialized fields of commerce, business administration of economics. One can also have a postgraduate degree in commerce or economics, which would give the candidate an upper hand in the field of Stockbroking.