Career as Stockbroker

The everyday activities of a stock broker career varies. A stockbroker generally works in an office environment. Several stockbrokers are required to visit their clients’ offices to offer consultations and services. The work hours usually extend in a stockbroker career. He or she is required to work with companies and individuals. A stockbroker requires you to keep an eye constantly on everyday changing stock values. He or she sells stocks on behalf of companies and makes profitable investments for clients. A stockbroker career comes with the responsibility of managing stock portfolios. He or she must be capable of analysing the stock market and making future predictions. A stockbroker must be able to after selling and trading strategies. 

You may also read a career as financial analyst

Customer service

A stockbroker has to create his or her own client list whether he or she works for larger trading firms or smaller ones. Stockbrokers spend a lot of time in customer recruitment and customer service. His or her work involves following up current clients and calling up respective clients. A stockbroker is required to maintain a strong trustful relationship with his or her clients. He or she is required to update their portfolios and look for new investment opportunities.

Advisory

A stockbroker is required to disclose all the information to their clients related to investment recommendations and risks involved in it. A false, misleading or exaggerated statement can affect the relationship of a stockbroker with his or her clients and may lead to legal action.

Trading

A stockbroker is responsible for trading stocks, buying and selling them on behalf of their clients. Trading is done electronically. Several stock brokers execute trades on the physical trading floor or by phone.

Fiduciary duty

A stockbroker’s earnings depends on the commission. It may cause conflict between the interest of stock brokers and interest of clients. A stockbroker is liable to follow the rules of regulatory authorities.

Full-service broker: A full service broker provides personal service to his or her clients. It includes providing them all the necessary information and recommendations for trading based on personalised research. This also includes the information that can-not be accessed by those people who are not availing brokerage services. 

Discount broker: A discount broker is a professional who takes orders from the clients. He does not offer any advice, analysis or research services. 

Online broker: An online broker is responsible for providing support to client in carrying out their everyday research. It includes providing charts, investment news and selection of stocks to them. An online broker possesses a good knowledge of stocks. 

A stockbroker works in an office environment. He or she spends most of his or her time communicating to clients on the telephone. He or she stays in front of the computer screen all day long to update the clients for any changes that happen in the meanwhile. The stockbroker job demands to work in a fast paced and sometimes stressful environment. Several stockbrokers are often required to travel to meet the personal and corporate clients staying up in local cities or foreign countries.

Does Stockbroker require travelling?

Likely

Yes, a career of a stockbroker often requires travelling local and internationally to meet the clients.

Employment Shifts

Full Time

A stockbroker works full-time as well as part-time. In several circumstances work from home is provided. He or she spends most of his or her working hours on call communicating to clients. A stockbroker career falls into certain shifts. In India, the National Stock Exchange opens at 9 am and closes at 6 pm.

Employment Nature

Contractual, Permanent

A career as stockbroker provides employment on both contractual as well as permanent basis. The nature of employment of stockbroker career is dependent upon the requirement of the recruiters.

Work Place

Office

A stockbroker works in an office environment. He or she often requires travel to meet clients locally and internationally.

Presence in Geographical Area

Semi-urban, Urban

People are more aware about the stock market, its concept and terms in urban and semi-urban areas unlike rural areas. Mumbai, Hyderabad, Bengaluru and Pune provide good alluring opportunities to stockbrokers. The salary packages provided to stockbrokers are higher in Mumbai and Hyderabad. 

Time Pressure

Likely

A stockbroker requires working under frequent time pressure. The prices of the stock market keeps going up and down.

Overtime Details

A stockbroker job demands working stretched hours than usual.

Weekly Hours of Work

Min 35 Hours

A stockbroker often requires to work stretched hours.

Listening skills: A career as a stockbroker demands providing an ear to the client and understanding their concerns. It is crucial for them to provide the right recommendations to make investments in the stock market as per their needs. 

Speaking skills: It is a crucial skill for a stockbroker career. He or she is required to speak clearly and confidently on a daily basis to his or her clients. A stockbroker must be able to communicate fluently to his or her clients to provide them recommendations to invest with higher profitability.

Critical Thinking: Applying logic and reasoning is a n important part of a stockbroker's career to predict profitable investments. He or she is responsible for identifying the problems and providing alternative solutions concerning both strengths and weaknesses. 

Persuasion skills: A stockbroker must be able to persuade his or her clients  to listen to him or her and get convinced by their recommendations. He or she must be able to analyse the stock market and its upcoming conditions to predict the outcomes. 

Junior Stockbroker: A junior stockbroker is a professional responsible for financial analysis. He or she provides assistance to clients and customers to make profitable investment decisions. He or she recommends investing in stocks of a profitable organisation. 

Senior Stockbroker: A junior stockbroker is a professional responsible for managing portfolios and providing recommendations to clients on making investment decisions in the stock market. He or she also processes transactions on behalf of clients. Excellent communication skills are crucial for this role. 

A stockbroker can progress up to senior-level roles and get a good amount of compensation. He or she must learn to apply sales techniques and build a large client base with numerous portfolios. A trustworthy relationship with clients ensures a successful stockbroker career. It is seen that an experienced stockbroker earns double the amount than of an entry-level stockbroker. The median earning of the stockbroker average salary is more than the national average. There are several factors that affect the job growth of a stockbroker. It includes the years of working experience in the stock market firm, education and geographic location.