Guide on Stockbroker As A Career Option – Courses, Jobs & Salary In India
The evolution of Stockbrokerage as a career
From being a monotonous career option to be a great employer in the country, the Stock Market has indeed grown as a reputed field of operation. Guess what? People from all walks of life are interested in knowing more about Stock Market, in fact, establish a career in it! Strange right? Who thought authorized poker could be a desirable career in India? It is.
Stock Market has successfully traveled from being the responsibility of the elderly to be an opted career for the youngsters of the nation. While on one hand, many are aiming to be a participant of the financial market to work independently, some are aiming to shake the Indian Securities Market in an unforeseen manner.
Well, let’s move on to discussing an important component of the Stock Market i.e. Stockbrokers.
“From being a monotonous career option to be a great employer in the country, the Stock Market has indeed grown as a reputed field of operation.” – Rohit Manglik
So, What does a Stockbroker do?
The happening job of a stockbroker involves the trading of shares with special focus on their clients. Their job description involves a very important task of updating their clients about the fluctuations of the stock market and advise them to act accordingly. Stockbrokers advise their clients as to when they should sell or buy the stocks and at what rate should they do it. But what makes their job difficult is that the stockbrokers are expected to perform all these tasks and make sure that their company makes a profit.
As for the scenario in India, stockbroker jobs in the country are slowly picking up pace. Over the years, technology has also helped the career to flourish by enabling the stockbrokers to keep a close watch on the behavior of the market. The well-informed lot keeps an eagle-eye on the fluctuations of the market and keeps the masses informed. The only way to survive the world of stock brokerage is to be highly adjustable to change and to have the ability to process things as fast as lightning.
There are 2 types of stockbrokers namely – Discount Brokers and Full-Service Brokers. Upon reading these glossy words, I am sure you would be thinking what does each of them do? Let’s quench your thirst for information.
Discount brokers are the genre of stockbrokers who buy and sell the orders at a reduced rate of commission.
Great right? There is more!
The advent of technology has bridged the gap between the brokers and the investors. The discount brokers can be contacted through online platforms, so much so that Discount brokerage is synonymous to Internet brokerage these days. A Discount broker, however, does not act on the behalf of the client or render his advice concerning the transactions. They just act as a medium for their clients to carry out the order about the stock market.
As for the full-service brokers, they are authorized financial brokers who provide various services to their clients. What kind do you ask? One of the major services that they provide are insights into the unpredictable stock market of the nation. They do the clients major work for them. They provide you with all the facts related to the stock market along with their expert advice on the same. They are angles for investors who do not have the time to stay up to date with the trends of the market.
I guess the next question in your brilliant minds would be about the pathway to becoming a stockbroker. Stay with me and you shall know.
“The happening job of a stockbroker involves the trading of shares with special focus on their clients.” – Rohit Manglik
Who is eligible to become a stockbroker?
There is an eligibility criterion for becoming a stockbroker which requires a candidate to be a graduate along with an experience of 2 years in a stockbroking firm. The contender of the same needs to be at least 21 years of age to become a stockbroker.
As for the educational qualifications, there is no special course for stock brokerage but there are courses that could lead your way. You are required to hold a degree in the specialized fields of commerce and economics. To hit the bullseye, it is recommended to pursue a master’s degree in the field of commerce or economics. The most suitable degree for this purpose would be an MBA in Financial Markets due to the insights that are offered during the study.
Various institutes offer specialized courses for Stock Broking like-
- Institute of Company Secretaries of India (ICSI)
- Institute of Capital Market Development
- All India Centre for Capital Market Studies
- Mumbai Stock Exchange Training Institute
- Institute of Financial and Investment Planning
- Institute of Chartered Financial Analysts of India
- The Orion Institute of Capital Market
- The UTI Institute of Capital Market
Where would I find employment?
Having spoken about the institutes, it is important to mention the job providers which could give you opportunities to explore the best of your potential. Various stockbroking companies could provide you with a job but why not go in for the best ones? As of today, there are 10 esteemed companies in the field of stock brokerage namely –
- Angel Broking Pvt Ltd.
- BSE Ltd.
- Edelweiss Financial Services Ltd.
- HDFC Securities Ltd.
- Karvy Stock Broking Ltd.
- Kotak Securities Ltd.
- Motilal Oswal Securities Ltd.
- National Stock Exchange of India Ltd.
What do I earn?
Obviously, by now, you would be eager to know about the salary packages these stockbrokers work on. In India, on an average stockbroker earns roughly 4 lakhs per annum. The salary packages of an Indian stockbroker is 194k and goes as high as 773k annually.
“Who thought authorized poker could be a desirable career in India? It is.” – Rohit Manglik
Let’s conclude, now shall we?
To conclude, the stock brokerage is indeed a desirable job in the present scenarios and comes with a lot of perks. The “happening” life of a stockbroker has just the right ingredients to make a well-functional stock market. During the course of this article, I hope you have found information for your curious self and have enjoyed reading to the fullest. Stockbroker as a career option is a phenomenal field for people who love to deal with the stocks and provide their insights to their clients.
“The “happening” life of a stockbroker has just the right ingredients to make a well-functional stock market.” – Rohit Manglik
I would suggest you go in for same. Bon, voyage!