How to Become a Stockbroker

Overview

A stock broker's job includes:

Eligibility

A bachelor degree in finance or business administrator is must for the aspirants. After getting the degree, you need to join a stockbroking firm to gain experience as you need at least 2 years of experience to get the license. The students with economics, business, and commerce and finance qualifications can enter in this profession.
In addition to a business degree, one can get a certification from NSE or BSE. More information on NSE's Certification in Financial Markets and BSE

Check the complete list of courses and top institutes

How to be there?

1. Complete your degree (graduation or post graduation) with required subjects
2. Register yourself with the stock exchange(s) depending upon your dealing in the securities listed at different stock exchanges
3. After that, you have to pass a written test & then undergo training that includes subjects such as capital markets, accountancy, portfolio analysis, etc. to become a member.
4. You have to deposit a certain amount with the stock exchange as security for membership. Membership will be given after analysis that you are able to operate as a broker.
5. You have to take a BSE certification on derivatives exchange & NSE's certification in Financial Markets

Skills Required

1. Excellent communication skills
2. Customer Services and sales skills
3. Excellent negotiation skills
4. Quick decision-making skills
5. Excellent maths, IT and research skills
6. Strong analytical skills
7. In-depth knowledge of financial markets
8. Physically fit and active

Work Hours

A stock broker's day is usually long as their days start before the market start and they need to work after the market closed.

Salary

A beginner stock broker can earn between Rs. 2 to 3 lakh per annum. As it is a job where you depend on clients, so your earning also depends on the clients you have. The earning gets higher with the experience.

Career Scope

There is huge potential in this field. There are many stock exchanges in India with more than 7000 listed companies. A stock broker can be employed by various agencies and firms in India. They can work as a dealer, advisor or securities analyst. After gaining some years experience, you can also start your own consultancy agencies.

Some of the areas for a stock broker are:
Broking firms, Insurance companies, Investment banks, Investment consultancies, Mutual funds and Other financial institutions

Pros and Cons

Pros

• Potentially Good Pay
• Career Advancement Opportunities
• Work with the management teams of big business firms
• Job Security

Cons

• High Stress and Long Work Hours
• The Markets Affect Your Finances
• Cold-Calling and Angry People
• You must be a morning person. Here you can't be late for work