If you wish to make a career in stockbroker, you should know that the stock exchange is exposed to a high degree of volatility. Prices fluctuate within minutes and are determined by demand and supply of stocks at a given time. A stockbroker buys and sells securities on behalf of individuals and institutions for some commission.
If you are interested in making a career in stockbroker, you could get into private practice or work for institutions. Those who work with institutional investors are also called Securities Traders. As a stockbroker, you could work as a dealer, advisor or securities analyst. Security analysts use their sound knowledge of capital markets to advice companies on floating shares. You could even research, analyze market conditions and draw profit margins on behalf of your client.
If a career in stockbroker is what you wish to make, you need to know that as a stockbroker, you have to simplify stock market terms and trading practices for your client, offer financial counseling and also devise financial portfolios. This portfolio also includes securities, life insurance, corporate and municipal bonds, mutual funds, certificates of deposit and other investments.
As a stockbroker, you need to be constantly updated about market conditions. Computer literacy is an added advantage with most of the dealings being computerized.
A stockbroker also does research and analyzes various sectors, industries including the price of a share - whether it is under-priced or overpriced. If you plan to make a career in stockbroker, you should be open to criticism and willing to accept failures when you are an analyst. Late hours, stress and tension go hand in hand with the job.
As a stockbroker, you should know that there is very little room for boredom or stagnation in the field of stockbroking. No matter which department you are in, a thorough knowledge of the various sectors and industries, gives you an edge in the business.
For a successful career in stockbroker, you need to have:
* Good sales ability
* Good communication skills
* Knack to convince people
* Knowledge of market and investment products
* Ability to listen to clients
* Understanding clients needs
* Build customer base
* Sharp memory
* Analytical mind
* Foresight and logical approach to make projections
* Ability to withstand mental stress and handle complex situations
If you have all the above qualities, a career in stockbroker is the right career for you.
Minimum requirement is graduation in any discipline preferably Commerce. It is essential for you to have thorough knowledge of economic conditions and market trends.
If you are interested in all these features, you should plan a career in stockbroker.