What is the job all about?
A stock exchange is a marketplace where stock brokers buy and sell stocks (also known as shares), bonds, and other securities. Brokers may work independently or for a brokerage house, directly interacting with clients. They provide information about shares, bonds, securities, and market conditions to prospective customers. Brokers execute buy and sell orders on behalf of clients, earning a commission on each transaction. When instructed by the client, they sell shares or other securities when the value rises, generating profit for the customer.
Can I go for it?
To succeed in stock broking, you need strong nerves and sound financial acumen. This role requires staying up-to-date with market trends, studying balance sheets, and analyzing the market rates of important shares, bonds, and securities. You must be able to explain the advantages and disadvantages of buying, selling, or exchanging different types of securities, considering market volatilities. Proficiency in managing day-to-day transactions and settling accounts with clients periodically, is essential.
Is there a future in this field?
The future in stock broking can be promising if you stay informed about market trends and continuously update your knowledge. There is no room for complacency; staying proactive and vigilant is key to success in this dynamic field.
Where do I start?
To become a stock broker, you need to be a graduate, preferably in commerce. Relevant work experience is beneficial, though not mandatory. To become a sub-broker (a preliminary step to becoming a broker), a high school education is sufficient. In India, the minimum age to become a stock broker is 21 years. Stock brokers must register with the Securities and Exchange Board of India (SEBI), the regulatory authority for securities in India. Aspiring brokers are required to pass various exams covering subjects such as securities and portfolio management, economics, and capital markets.
In Goa:
You can pursue education up to B.Com/M.Com and register for CA (Chartered Accountancy) or Company Secretary (CS) programs. Additionally, online qualifications are available through BSE Varsity – www.bsebti.com
Outside Goa:
• Indian Institute of Management (IIM)
• Institute of Chartered Accountants of India (ICAI)
• Institute of Company Secretaries of India (ICSI) – www.icsi.edu/Student/Courses-Offered
• BSE Institute Ltd. – www.bsebti.com
• National Stock Exchange (NSE) – www.nseindia.com
• Institute of Chartered Financial Analysts of India (ICFAI) – www.icfaiuniversity.in
• National Institute of Securities Markets (NISM) – www.nism.ac.in
• Scholarships Portal – www.scholarships.gov.in
Employment Avenues
Larger broking firms such as Kotak Securities, ICICI Securities, Karvy, and Motilal Oswal in India, as well as global firms like Morgan Stanley, Bank of America, and Merrill Lynch, typically prefer candidates with an MBA in Finance, Chartered Accountancy (CA), or Chartered Financial Analyst (CFA) credentials. A strong interest in financial markets, accounting, and economics, along with robust analytical and quantitative skills, is essential.
Monetary Potential
For candidates with up to three years of experience, salaries typically range from ₹15,000 to ₹18,000 per month. With increased experience and sharp knowledge, earnings can rise significantly, potentially reaching several lakhs of rupees.
Don’t settle for just a degree or diploma — enhance your CV by completing online learning programs with certification in areas relevant to your chosen career. This will significantly improve your employment prospects compared to holding only a basic qualification. Additionally, consider boosting your confidence by enrolling in public speaking courses, such as those offered by Toastmasters International.
For government job opportunities, please check: www.employment-newspaper.com
page updated: August 2024