Career as Stockbroker

The everyday activities of a stock broker career vary. Individuals who opt for a career as a stockbroker generally work 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. The stock broker job description requires you to keep an eye constantly on every day changing stock values. A stockbroker 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. In career as stockbroker, individuals 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. 

Individuals who opt for a career as 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

In career as stockbroker, individuals work 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

In career as stockbroker, individuals work 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

In career as stockbroker, individuals require working under frequent time pressure. The prices of the stock market keep going up and down.

Overtime Details

A stockbroker job demands working stretched hours than usual.

Weekly Hours of Work

Min 35 Hours

Individuals who opt for a career as a stockbroker are often required to work stretched hours.

When it comes to how to become a stockbroker, the first thing that they should know about the skills required to become a stock broker. Some of the essential skills we have mentioned below. Here, we have discussed how to become a stock broker in India.

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 an important part of a stockbroker's career to predict profitable investments. Individuals who opt for a career as a stockbroker are 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. In career as stockbroker, individuals must be able to analyse the stock market and its upcoming conditions to predict the outcomes. 

Popular Online Finance Courses and Certifications

• Online Banking And Finance Courses

• Online Finance Courses

• Online Fintech Courses

• Online Gst Courses

• View All Online Finance And Accounting Courses 

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 of an entry-level stockbroker. The salary of a stock broker in India is better than many other professions in the financial sector. The median earning of the stockbroker average salary is more than the national average. There are several factors that affect job growth in the stock broker career. It includes the years of working experience in the stock market firm, education and geographic location. 

Student Also Liked:

• Online Degree and Diploma Courses

• Online Free Courses and Certifications

• Online Short Term Courses and Certifications

• Online Certification Courses

• View all Online Courses and Certifications