Stock Broker is a financial market expert who gives consultancy to those interested in investing in the stock market but, either doesn’t have the appropriate knowledge or doesn’t have the time to keep track of his stocks all the time, which is a bit important to get output from this field.
With the tilting of the interest of the present-day youth from government jobs towards self-employment/entrepreneurship and the spread of knowledge about the share markets by the media among the masses, the interest of the younger generation has increased toward the field of Share Trading as a profession. Some of the interested ones have even started trading themselves and a few smarter ones are planning to be share brokers.
These professionals invest money on behalf of their clients in different securities, it may be as per their client's wishes or by their own prudence. All of this depends upon the faith, the clients show to their selected brokers. Thus it becomes all the more important for the share brokers to invest the money of their clients in such a way that they are at the least risk level. With the awareness of stock markets and increasing participation of the general public in stocks and shares, this profession is gaining ground at a very fast rate.
Though this is not considered as one of the most glamorous professions its importance cannot be ignored nowadays. Like every other so-called cherished profession, this is also providing a lot of opportunities to show their talent and earn respect and money from the younger generation
Stock Broker Eligibility
Educational Qualification
Pass in Senior Secondary Examination (12th) or equivalent recognized examination. There is no restriction with regard to the marks secured in Senior Secondary Examination or subjects studied.
Graduation for those who want to be stock brokers after being trained as an assistant broker for some time
Age Limits
There is no restriction with regard to the age of the candidate or marks secured in the Senior Secondary Examination or subjects studied.
Stock Broker Required Skills
- To become a Share broker one has to be really dedicated and hardworking.
- Share brokers should have an intensive knowledge of every aspect of the share market along with foresight to predict to some extent the direction of flow of the market.
- They should have the capacity to work hard with commitment and honesty as the job requires a lot of hard work, alertness of mind, foresight, and adaptability.
- To discharge their duties efficiently and effectively they require special training and comprehensive knowledge in more than one area of the trade.
How to Become a Stock Broker?
To become a Stock Broker one has to follow the given steps:
One must have a strong education background either in commerce, economics or in business administration, or in finance. Also to be eligible for the stockbroking profession one may pursue Postgraduate courses in economics or commerce offered by several universities in the country. Finance managers may be MBAs with specialization in finance from the reputed institutes of management or from the departments of business administration of the major universities.
Step 1
An aspirant has to do courses in stockbroking and capital market and investment, investment planning, and several other related courses that are offered by a few training institutes in India.
Step 2
After going through these courses one has to join a stockbroking firm and has to get at least 2 years of experience in it.
Step 3
After getting enough experience and knowledge while working with a stockbroking firm one can start his own business alone or by registering a stock brokering firm with requisite permission from the relevant authorities.
Stock Broker Job Description
As a stockbroker, you have to manage the financial profile of your client. So, you can work individually or in an organization. You will take advice from investment analysts after that you will discuss the whole scenario with your client that which financial shares to buy or sell to avail the best profit as a return on the client's money.
Stock Broker Career Prospects
There are nearly 21 operative stock exchanges all over India with more than 7000 listed companies, nearly 6500 brokers, and more than 500 investment bankers registered with the Security and exchange board of India- the governing body of the stock markets acronym SEBI. If we go by these statistics then it can be easily assumed that the prospects for the stockbroking business are bright for those who are qualified and apt enough to handle this business and have the necessary personality traits to cope with it.
Stock Broker Salary
As far as monetary returns for a Stock Broker is concerned, one cannot count the monetary returns of the right persons in this profession. However, those working in Stock Brokering firms can expect to get Rs. 30,000 as the starting salary.
