STOCK BROKER

STOCK BROKER

WHAT’S IT ABOUT ?

Stock Broking is the most attractive yet dangerous Career. Stock broking involves the buying and selling of shares for clients on commission basis. But most big broking firms don’t restrict themselves just to shares. They offer mutual funds, insurances, commodities, currencies and other financial products as well. Most firms recruit freshers as assistant relationship mangers (ARMs) and relationship managers (RMS). These professionals’ job is to inform clients of market movements and advise them on the amount of risk they should take. They take orders from clients to buy and sell at specific rates. They also solicit more business for the company

CLOCK WORK

An RM’s average day: 9-10 am: Check business news and client positions, Pre-market opening briefings with seniors

10 am-3.30 pm: Buy/sell shares and other securities when markets open. Call up clients or receive calls about orders

3:30 pm-5 pm: Market closes. Again call up clients to confirm orders. Visit clients to build relationships

5pm-6 pm: Attend training sessions to keep new recruits up to speed with new business and ventures

THE PAYOFF

An RM with an MBA in finance can draw Rs. 2.4 lakh to Rs. 4 lakh a year (depending on the firm). A non-finance RM earns less. S/he can become a team leader, a zonal manger of a branch or an AVP

SKILLS

  • Love for the markets. You should understand the pulse of the Sensex and the Nifty
  • Be a people’s person
  • Trust and integrity are an absolute must
  • You deal with people’s life savings, so giving the right advice is critical

HOW DO I GET THERE ?

  • Most brokerage firms hire ARMs and RMs from noted MBA institutes. In addition to your business degree, you could arm yourself with a certificate such as the NSE’s certification in financial markets and BSE certification on derivatives exchange. More details at nseindia.com and www.bseindia.com

INSTITUTES & URLS

  • BSE Training institute, Mumbai
  • National Stock Exchange, Mumbai
  • Institute of Company Secretaries of India, New Delhi (PG course in capital market and financial services) icsi.edu
  • Indian Institute of Finance, New Delhi iif.edu
  • SP Jain Institute of Management & Research, Mumbai, spjimr.org

PROS AND CONS

  • Higher GDP means higher salaries
  • The market will eventually grow as India is on a growth trajectory
  • One mistake can cost clients heavy, so pressure is high; dealing with clients in the bear run test your mettle
  • The work can affect family life
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