Now that the government of India had liberalized their industrial and financial policies, lot of new sectors have come in to existence and had set up their business and even the existing companies have increased their business turnover and this has lead to demand for human resource i.e. creating lot of job opportunities.
In view of the discussed liberalization stock market is also one such sector where job opportunities increase. Stock market is the place where the selling and purchasing of shares, debentures, government securities and bonds is taken place.
How to become a Stock Broker?
People, who have interest in this field, initially need to register their name in the related Stock Exchange. Firstly, they need to pass the written exam conducted and then there will be Training sessions carried out. In the written test, knowledge on Accountancy, Capital Markets and Securities-Portfolio Analysis will be examined. After all the formalities, a nominal amount has to be deposited in the Stock Exchange.
Not only that there are potential opportunities available in big Stock Broking Companies, but they also can work as Dealers or Agents to gain experience.
Stock broking companies are giving preference to candidate who Charted Accountants, Chartered Financial Analyst and who did their Finance specialization in MBA. These companies are also availing services of Specialist Economists, Accountants, Finance Managers, Financial Analysts, Capital Market Specialists and Investment & Financial Planners.
A Stock Broker can start their own services or work for any other Company. Primarily, a stock broker will earn his/her income in the form of commission received after buying or selling securities on behalf of a person or a company. A Stock broker who works for Institutional Investors is called “Securities Traders”. By providing financial advice to Clients and managing their portfolios a stock broker should ensure the client gets maximum financial benefits.
As this is totally money related activity stock broker should take vigilant decisions. Professional who do not take greedy or hurried decisions on money related issues. Who take steps after good study and analysis will become a successful Stock broker.
With the increasing technology in the recent time, individuals are performing their trading activities setting at home using the internet. By opening DMAT accounts in different banks they are effectively carrying out their work. Here banks are acting as security traders and earning commission by giving services to the investors.
Companies, products and investment pattern, work strategy, growth rate, company’s future plans and other financial & business related aspects need to be intensely assessed and analyzed.
Generally, MBAs, Professionally qualified individuals will get their starting salary from Rs.12, 000 to 15,000. Most of the stock broking companies are paying good income along with the performance based commission. This profession has scope for good earnings. Stock broker with good expertise are earning crores of rupees.