Are you interested in finance? Are you interested in the stock market? Do you have a lot of knowledge about the stock market? Are you keeping an eye on the stock market? If your answer is yes, then being a stockbroker is a great career option for you.
If you are Indian or you like India, then you must know the name of Bollywood. Aren’t you? Bollywood itself covers the stock market in various films.
In recent times, Bazar, Scam 1992, has really made a stir in the entertainment industry. You might have known the popular name of India’s stock market personality, Harshad Mehta, who did a huge scam with the stock market, which is why it crashed at that time. I think you know about that particular incident.
Not only in Bollywood but also in Hollywood, they make various films on the stock market.
Here, I want to tell you that the stock market and stock brokers are very popular worldwide.
Have you ever heard the name “stock broker? I know it is a very unique name for you. But stock brokers are real.
Stock brokers are individuals who are associated with the stock market and stocks.
I know that many of you don’t know about the stock market, but now, with the help of the internet, the majority of the audience knows about it.
My elder brother is a stockbroker. He works at a financial firm. He actually makes a pretty decent salary. He has some benefits and perks all over.
If you are interested in money, finance, or the economy, I will suggest that you pursue a career as a stockbroker.
So, let’s start with some brief ideas.
- Who is a Stockbroker?
A stock broker is a trained and qualified professional who actually sells and buys stocks on behalf of his or her clients. He can be associated with a financial institution or work as a freelancer. A stockbroker can offer his skills to any individual. An individual has the right to appoint his or her own stockbroker.
So, I think you get it. It is a very lucrative job opportunity that you can avail of if you have ample interest in this field. As I have told you, it is a financial field, so there is a chance of high market risk.
So, now that we know about the definition of a stockbroker, let’s dig into another area.
So, let’s talk about the skills that a stockbroker needs to establish in his field.
- Communication skills: At present, communication skills are really important in any area of a job. Similarly, stock brokers also need amazing communication skills. I have already told you that it is a client-based job, so you need a good grasp of the language. Your communication skills matter here. After all, you have to convince your client verbally, so you need effective communication skills. After all, communication is the vehicle for the job.
- Research quality: In order to flourish as a stock broker, you need research skills. The stock market is subject to huge risk. And it is a subject of constant change. So, you have to study and research the stock market before investing your client’s money in stocks. A good amount of research can lead to success.
- Knowledge of marketing: If you are a stockbroker, I think you know how important knowledge of the market is. Without proper knowledge of marketing, you will never be able to handle your stocks. With your marketing knowledge, you can easily study the market and invest safely.
- Convincing power: As I have told you, as a stock broker, you need a good and effective communication skill. Through your speaking ability, you have to convince your clients. So, always remember to inculcate honesty and softness in your communication.
- Problem-solving ability: As I have told you before, the stock market is subject to risk. So, if you by any means make a blunder, it’s your duty to cope with it with your own problem-solving skills.
- Mathematics: As a worker for a finance firm, it is obvious that you need to have a good knowledge of math. After all, math is the basis of every finance-related field. Math is the basis of everything.
These are some skills that you will need if you want to be a stockbroker.
Now coming to our next segment, which is:
How to be a Stockbroker:
- Pursue your bachelor’s degree from college. Although the subject is not specified, you can do your bachelor’s in finance or business. This will give you extra preference in the job market.
- After completing your graduation, try to find an internship program and enroll yourself in it.
- In order to become a stock broker, you must first be a member of the stock exchange. Such as the Bombay Stock Exchange and the Calcutta Stock Exchange.
- To obtain a Certificate of Registration (CoR), you have to register yourself with the Securities and Exchange Board of India (SEBI). After that, you get your license as a stock broker.
- You can also enroll yourself in the NISM (National Institute of Security Market). It is an additional course, but many firms need this certificate.
These are the steps by which you can become a stockbroker.
Every country has its own process for becoming a stock broker.
Let’s talk about the duty list:
- Accurately evaluate financial reports.
- Be up-to-date on the market.
- Handle all financial-related documents for your client carefully.
- Give your client financial advice.
- Finding new clients through social media, cold calls, and emails
A stock broker has to fulfill these duties.
Salary: 23 to 25 thousand per month, as per financial firms.
Conclusion: Being a stockbroker is not a traditional job field. You need to be an expert in the field of finance in order to join this field.