Stock Broking Jobs
A large number of stock broking houses are in constant need of manpower and trained or untrained professionals to work in various areas such as system maintenance, back office, marketing, research analysis, etc. they need people who are ready to work as analysts, IT professionals, relationship managers as well as dealers who can run and maintain the offices.
All major stock broking firms and organizations such as Geojit Financial, Anagram Stock Broking, Indiabulls, AnandRathi, SSKI Securities, Motilal Oswal Securities, Fortis Securities, Apollo Sindhoori Capital Investments and many more small firms are constantly trying to expand their networks and business.
In order to get a Stock Broking Job there are a large number of websites which can help you to apply and get information about the latest job openings in all the big and small stock broking firms. A few of these websites are:
www.monsterindia.com: This is one of the most renowned websites amongst the stock broking job seekers. It enables you to upload your resumes for the companies to see. It basically acts as a bridge between the employers and the employees. The website enables the stock broking job seekers to search for all the big and small stock brokering firms having vacant positions for eligible candidates. Similarly it also enables the employers to browse through and scan the resumes of a lot of candidates who have the potential to be the part of the company.
www.timesjobs.com: At this website you will be given the company names, company details, job profile, job details which include the eligibility criteria and the company requirements, date of job vacancy, the amount of work experience required and how to apply for that job.
Various websites which can assist you in getting a good stock broking job are:
www.naukri.com
www.freshersworld.com
www.clickindia.com
Stock Broking Job Requirements
The stock broking professionals have quite a challenging career path and need to face various problems which test their decision making skills from time to time. Stock broking professionals possess specialized knowledge and professional acumen which is valued highly in the market.
The job of the stock brokers depends on the work they do. Some of the stock broking professionals work with institutions where in some of them work with private clients. stock broking professionals working with institutions are often called as the security traders by many people where in the others work as security analysts, dealers or probably traders.
The job of the security analysts is to advice various companies or individuals about shares and floatation since they are believed to have good knowledge of capital markets. Brokers are generally involved with or work with various financial institutes such as banks, consultancies, pension funds, mutual funds and other insurance companies.
It is very important for a stock broker to have a knack of dealing with different kind of people, to be able to handle difficult situations, to be able to convince different people and to be able to speak well and have a well groomed personality. A stock broking professional also needs to have a lot of patience and good communication and convincing skills.
As far as the technical skills are concerned, stock broking professional needs to have a sharp memory, an analytical mind, a logical approach towards everything and should be able to foresee the market direction.
He should also be able to withstand stress and should also be talented enough to handle stressful situations.
Stock Broker Exams
Stock Market exams are different for a person with different job profile i.e. for central depository, securities, derivatives, currency futures, etc. There are several certifications organized by Bombay Stock Exchange (BSE). These are listed as follows:
BSE Certification on Central Depository( BCCD)
BSE Certification on Securities Markets (BCSM)
BSE Certification on Derivatives Exchange (BCDE)
BSE Certification on Currency Futures (BCCF)
Also there are various training programs listed by BSE which is known as BSE Training Institute (BTI). More than 30 courses ranging from few days to weeks courses are organized by BSE. Minimum requirement is 12th pass with confirmation on speaking, reading and writing English. But for some courses like CPCM (Certificate Programme on Capital Markets) a graduate of any field is expected. CPCM is joint effort of BSE, Jamnalal Bajaj Institute of Management Studies (JBIMS) and Mumbai University.
http://www.bseindia.com/training/about.asp
Another test is conducted by National Stock Exchange which is most popular and peoples butter and bread to be certified in Stock Trading. This was launched in 1998 known as ‘NSE's Certification in Financial Markets (NCFM)’. NCFM has different modules which can be found on following link
http://www.nseindia.com/content/ncfm/ncfm_about.htm
The well known Series 7 exam is launched by Financial Industry Regulatory Authority (FINRA) previously known as National Association of Securities Dealers. The exam has 260 questions and passing percentage is 70%. The questions are normally multiple choices which mean a person just need to tick mark the right one. FINRA also administers General Securities Representative exam which helps a person to become stock broker.
Also FINRA launched Series 65 exam which qualifies a professional as Investment Advisor Representative in several states. The exams main aim is to help a professional to become an investment advisor i.e. when exactly providing advice. Retirement planning, investing, foreign investments, portfolio management strategies are some of the areas that are highlighted.
Career In Stock Broking
In order to have a career in stock broking the major requirements are that the candidate aspiring to be a stock broker should have completed his graduation and should have gone through training in any broking firm for atleast 6 months. The training is mainly to make the candidate aware about various subjects such as capital markets, accountancy, port folio analysis, working of the stock market etc.
The decision of making a career in stock broking is a great option for people who are fascinated by the ups and the downs of the stock market and are interested in learning its working. Various initiatives which have been taken by the SEBI in order to bring transparency and discipline in the market has gained the confidence of a large number of Indian as well as foreign investors in the capital markets.
This has increased and enhanced the career prospects for stock brokers in many stock broking firms. Stock brokers can get a job and can work for various financial institutions such as Business Houses, Investment Banks etc. A stock broker can also start his very own consultancy and practice with private or individual clients. At times a stock broker can also work as a dealer, advisor or a security analyst. Stock brokers who are working as Security analysts are expected to have sound knowledge of the capital market.
A large number of stock brokers make a career in varied kind of organizations and firms such as insurance companies, banks, pension funds, mutual funds, consultancies etc.
Stock Broking Institutes
With the rise in the establishment of the number of the stock broking firms in India, the demand of the stock brokers has also increased drastically. This has resulted into the setting up of a large number of institutes which offer stock broking courses in India.
A few years back there were no courses which offered professional training in stock broking. But with globalization and growth in competition people have realized the important of stock brokers and the scenario has completely changed there after. The stock broking courses in India are meant to provide full knowledge of stocks and the functioning of the stock markets in India. These courses have been designed in such a way so as to make the candidate competent to enter the business of stock broking.
A few of the major colleges and institutes which offer Stock Broker Courses in our country are:
- Bombay Stock Exchange's BSE Training Institute, Mumbai
- Institute of Company Secretaries of India, New Delhi
- Institute of Financial and Investment Planning, B/303,Ventex Vikas, M.V.Road, Andheri(E) Mumbai 69
- The Orion Institute of Capital Market, S- 11, Adarshini Plaza, 91, Adchini, Aurobindo Marg, New Delhi
- The UTI Insitute of capital Market, Plot 82, Sector - 17, Vashi, Navi Mumbai - 400 705
- Institute of Chartered Financial Analysts of India (ICFAI), Road No.3, Banjara Hills, Hyderabad 34
- Institute of Capital Market Development, 1965 Arya Samaj Road, Karol Bagh, New Delhi - 05
- All India Centre for Capital market Studies, J.D.C Bytce Institute of Management Studies and Research, Nashik - 05
Stock Broking Courses
Globalization and liberalization have played a very important role in strengthening the role of the stock exchanges all across the world. Transactions worth millions of rupees take places every single day. The Indian Stock Exchanges have generated a large number of stock broking jobs and many other jobs with varied scopes for the youth in India.
The increase in the number of stock broking firms has resulted into more and more demand of well trained stock brokers. In order to work as a stock broker there are a large number of stock broker courses which are offered by several institutions in India. In order to be eligible to be a stock broker, it is a must to be a graduate and have some training or work experience in a stock broking firm.
A few of the large number of stock broking courses which are available in India are:
- Certificate Course on Chartered Financial Analyst Equity Research
- One-year Post-Graduate Diploma in fundamentals of capital market development.
- Post-graduate membership course in capital market and financial services
- MBA in Finance as specialization
After the successful completion of the course, the candidate needs to register with the SEBI or the Securities and Exchange Board of India in order to become the stock broker and join a stock broking firm in India.
A person who has completed a stock broking course successfully in India can get a job in any Stock Broking Firms, Business Houses, Investment Banks or he or she can also work as a dealer or an analyst. Infact a lot of opportunities are available abroad as well. The remunerations offered and the monetary gains are high out there.