A stock broker is the interface between the share market and the players in it.
WHAT YOU DO
Stock broking involves the buying and selling of shares for clients on commission basis. But most big broking firms don’t restrict themselves just to shares. They offer mutual funds, insurances, commodities, Currencies and other financial products as well most firms recruit freshers.
YOUR TIME TABLE
An RM’s average day:
9-10 am: Check business news and client positions, Pre-market opening briefings with seniors.
10 am-3.30 pm: Buy/sell shares and other securities when markets open. Call up clients or receive calls about orders.
3.30-5 pm: Market closes. Again call up clients to confirm orders. visit clients to build relationships.
5-6 pm: Attend training session to keep new recruits up to speed with new business and ventures.
YOUR PAY CHEQUE
An RM with an MBA in finance can draw Rs. 2.4 lakh to Rs 4 lakh a year 9depending on the firm). A non-finance RM earns less. S/he can become a team leader, a zonal manager of a branch or an AVP.
Love for the markets. You should understand the pulse of the Sensex and the Nifty.
Be a people’s person.
Trust and integrity are an absolute must.
You deal with people’s life savings, so giving the right advice is critical.
Most brokerage firms hire ARMs and RMs from noted MBA institutes. In addition to your business degree, you could arm yourself with a certificate such as the NSE’s certification in financial markets and BSE certification on derivatives exchange. More detail at www.nseindia.com and www.bseindia.com
BSE Training Institute, Mumabi
National stock exchange Mumbai
Institute of company secretaries of india, new delhi (PG course in capital market and financial services) www.icsi.edu
Indian Institude of Finance, new delhi www.iif.edu
SP Jain Institute of Management & Research, Mumbai, www.spjimr.org
WHAT’S GOOD & BAD
Higher BDP means higher salaries
The market will eventually grows as india is on a growth trajectory
One mistake can cost clients heavy, so pressure is high; dealing with clients in the bear run test your mettle
The work can affect family life