Consolidate your career stock

Rishi Rai

Have you ever been awestruck by images of worked-up and excited stock brokers flashing on television and popular movies like the Hollywood flick The Wolf of Wall Street? Have you been admiring the way stock brokers build millions in wealth, but never known how to get into this profession? Have you ever thought of making a career in the stock market?

If yes, the Dalal Street in Mumbai, the financial capital of India, or the Wall Street in New York, USA, can figure on your career list. These places are famous for their stock markets that hold the lure of immense money through investment in shares.

Stock market is a place where buyers and sellers trade in shares of companies. A career in the stock market is an option that can provide consistent growth without any barrier of age.

There is a myth that only those with an academic background in commerce can make a career in the stock market. Nothing can be farther from truth than this.

Getting in

There are several top stock broking firms, particularly in metro cities, that regularly employ men with the requisite qualifications and experience. Freshers are also hired as interns. For becoming a stock broker, you need to register with the Securities and Exchange Board of India (SEBI).

What do you need to study?

A background in commerce is helpful for entering the stock market though it is not absolutely necessary. In a departure from other professions where you need to learn skill sets through academic degrees, the stock market is one place where you learn from experience by exposure to the market.

A course in the stock market is helpful though since operations are computerised, highly technical and are managed by specialists with long years of experience. There are several institutes across the country offering studies in the capital market with certificate courses having durations of six months to one year or more.

Where can you work?

According to a report published in a leading financial daily, there are over 6,500 registered stock brokers with the Securities and Exchange Board of India. The BSE or the NSE are perfect launchpads for those interested to make a career in this profession. There are hundreds of stock broking and investment consultancy firms too that offer various job prospects.

Job roles

In a stock market, you can either work as a full-service broker or a discount broker depending on the stock-broking firm in which you are employed. With adequate experience under your belt you can foray into becoming an entrepreneur with a stock-broking firm for yourself.

You can also work as a portfolio manager where you help your clients to balance their investments in purchasing shares of various companies by exposing them to the least amount of risk in the volatile market. As a portfolio manager you have to create a basket of stocks for your clients consisting of equity and debt shares.

Remuneration for stock brokers

A study conducted by a stock broking company in 2019 showed that the average per month remuneration in this field has grown almost five-fold in the past 10 years. For a judicious and intelligent stock broker, who is capable to build excellent portfolios for his clients, sky is the limit as far as remuneration is concerned. There have been examples of stock consultants earning as high as Rs 5 crore per year.

Scope

• At present the GDP of India is roughly $2.8 trillion. This is expected to cross the $5 trillion mark in the next few years. It clearly reflects the growth of capital markets in the country. With the private sector expanding fast, scope for jobs with disposable income is also growing. 
• A trend has also been noticed amongst judicious workers of investing heavily in the stock market for quick growth of their wealth. However, not everyone is equipped with the expertise or the information to deal with the nitty-gritties of the stock market. The role of a stock broker comes in handy at this stage.

— The writer is CEO, Brainers Business School