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.
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. You can work as a full service broker (for eg. with ICICI Direct or Sharekhan) or as a discount broker (with firms like RKSV or Zerodha.)
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.Â
The National Stock Exchange or NSE provides nationwide facilities with access to investors all over the country. The automated, screen-based trading system using state-of-the-art technology makes market operations transparent.
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.
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.
There were about 20 active stock exchanges in India with 7000 listed companies, 6500 brokers and 538 investment bankers registered with the SEBI. As per a Mint report, dated 20 May, 2014, 15 of the 20 stock exchanges in the country have opted to exit the business altogether. The 5 that will continue are the Bombay Stock Exchange (BSE), United Stock Exchange (which agreed to merge with BSE), MCX Stock Exchange Ltd (MCX-SX), National Stock Exchange (NSE) and the Calcutta Stock Exchange.
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.
As of November, 2014, the Bombay Stock Exchange (BSE) was rated 10th globally (market value-wise) among world’s stock exchanges, as revealed by data from the World Federation of Exchanges. Close behind is India’s National Stock Exchange (NSE), ranked 11th. “It is a matter of time before we make it to the top 5 stock exchanges in the world, said Kalpana Morparia, chief executive of J.P. Morgan India, told Wall Street Journal on 28 November, 2014. If the market cap of Indian companies keeps growing at its recent pace, the BSE and NSE could soon overtake Germany’s Deutsche Borse and China’s Shenzhen Stock Exchange. In short, opportunities in this field are going to be aplenty!
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
Here are some of the best stock broking institutes in India:
A broker is a person or company who works as a go-between for just a client and a stock market.Â
A broker gets to work early to read financial news and begin researching trade
Brokers are typically innovative, outgoing, optimistic, enthusiastic and curious. They tend to be socially skilled and communicative, and enjoy making new contacts and maintaining existing relations.
If you have an account with a brokerage firm, you may wonder if your money is truly safe. After all, a brokerage firm can go bankrupt like any other business.
The average salary for Stock Broker is ₹7,90,000 per year in the India. The average additional cash compensation for a Stock Broker in the India is ₹4,80,000, with a range from ₹4,80,000 – ₹4,80,000
Article Updates:
14/08/2023: General Update
14/08/2023: Interlinking
14/08/2023: FAQS Update
