Career in Stock Broking
If you passionately follow the markets, understand how the Sensex and Nifty work, and have a knack for handling finances, then a career in stock broking might just be for you.
What does a Stock Broker do?
Stock brokers are involved in the buying and selling of stocks in the market, mainly for their clients. They always remain in touch with their clients, constantly updating them about the fluctuations in the market and advise them when to buy & sell and at what rates. At the same time, stock brokers also ensure that their stock trading company also makes maximum profit in the long run.
With the market in India growing steadily, it is obvious that those who deal in market shares are going to have rewarding careers with vast opportunities for growth. A career in share market might be a very good option indeed.
All the 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.
Eligibility Criteria for Stock Broking
The minimum educational qualification required to become a stock broker is a graduation with at least 2 years of experience in a stock broking firm. A sub-broker (the previous stage of being a broker) needs to have passed the class 12th standard to be eligible for his job. Minimum age: 21 years.
This business is an integrated one. Jobs in stock broking are not your only option in this field. The share market requires the genius and capabilities of specialists from various fields from economists, who know the ins and outs of the market, to financial planners, who can give you the right kind of advice on stocks.
You also have the option of becoming a financial manager, analyst or a market specialist.
Although, there aren’t stock broking courses as such, you need to have a background in the specialised fields of commerce, business administration of economics to become a professional stock broker. To have an even better shot at joining this illustrious and taxing career, one can choose to pursue a post-graduate degree in commerce or economics.
Financial managers with a Master of Business Administration (MBA in Financial Markets) degree would be preferred as they would have specialised knowledge of the field
How to become a Stock Broker
First and foremost - you need to register and become a member of a stock exchange. You must also register with the Securities and Exchange Board of India (SEBI). SEBI governs all the stock brokers, protects the rights of the investors and acts like a regulatory body of the ever-fluctuating markets.
Salary/ Pay package
While not every stock broker ends up becoming a Warren Buffet, you stand to earn well as a stock broker. The salary package varies from earning $34k to $154K
Stock Broking Institutes
Courses in stock broking and capital market and investment, investment planning and several other related courses are offered by a lot of training institutes in India.
Here is a list of colleges in India offering stock broking courses:
Institute of Company Secretaries of India
ICSI House, 22, Institutional Area Lodhi Road, New Delhi 110 003, Fax: 24626727
Website: http://www.icsi.edu/
Course: Post-graduate membership course in capital market and financial services
Institute of Capital Market Development
1965, Arya Samaj Road, Karol Bagh, New Delhi-110005
Course: One year postgraduate programme in fundamentals of capital market development.
All India Centre For Capital Market Studies
J. D. C. Byte Institute of Management Studies and Research, Nashik-422 005,
Course : One year post graduate programme in capital market studies, in collaboration with the Mumbai Stock Exchange Training Institute, leading to a diploma from the University of Pune. The course is open to graduates through an all-India selection process.
Mumbai Stock Exchange Training Institute
Stock Exchange Building, Fort, Mumbai,
Course: Certificate courses are run periodically throughout the year
Institute of Financial and Investment Planning
B/303, Ventex Vikas, M. V. Road, Andheri East, Mumbai,
Course : One year correspondence cum lecture course leading to a diploma in financial and investment planning
Institute of Chartered Financial Analysts of India
Road No. 3, Banjara Hills, Hyderabad,
Course: Courses on Chartered Financial Analyst Equity Research.
The Orion Institute of Capital Market
S- 11, Adarshini Plaza, 91, Adchini, Aurobindo Marg, New Delhi
The UTI Institute of capital Market
Plot 82, Sector - 17, Vashi, nave Mumbai - 400 705