Stock Broker Career Course Institutions in India and Abroad

The advent of liberalisation and globalisation has opened up many new opportunities for people and stock exchanges are one of them. Stock exchanges are one of them. Stock exchanges are one of them. Stock exchanges are market places where stockbrokers buy and sell securities (shares, debentures, government securities, bonds, etc.) of individuals and institutions. Prices of these securities fluctuate from minute to minute, with the price of stock at any given time being determined by its demand and supply. The buying and selling of shares are based on detailed analysis done by experts. This kind of thorough analysis is a must keeping in mind the very high degree of volatility.

All the stockbrokers have to register themselves with the stock exchange(s) depending upon their dealings in the securities listed at various stock exchanges. To become a member, you need to clear a written entrance test and then undergo training, which includes subjects like accountancy, capital markets, securities and portfolio analysis and so on. On the application and consequent attainment of the membership, a certain amount has to be deposited with the stock exchange as security. Membership is given after surutiny to ensure that the person concerned possesses the infrastructure (computer, the Internet connection, etc.) to be able to operate as abroker. Further, the option of working a dealer or an agent with a stockbroking firm is always there. Most of the big brocking firms prefer MBAs, with specialisation in finance or Chartered Accountants (CAs) and Chartered Accountants (CAs) and Chartered Financial Analysts (CFAs). This business also requires the services of specialists like economists, accountants, finance managers, financial analysts, capital market specialists and investment and financial planners.

Nature of Work: A stockbroker can get into private practice or work for institutions. They buy/sell securities on behalf of individuals and institutions for a commission. Those who work with institutional investors are also called securities traders. The main functions of a stockbroker include simplifying stock market terms and trading practices for his clients, offering financial counselling and devising financial portfolios. A stockbroker can work as a dealer, advisor or securities analyst. Clients are contacted and closed deals are executed by the dealers. Buying and selling involves convincing clients to buy or sell shares to an individual, a big organisation or a retail investor

Job of advisors involve offering advice on sale and purchase of securities. Security analysts use their knowledge of capital markets to advise clients on floating shares. They analyse the market conditions, conduct research and draw profit margins on behalf of their clients. Compared to this, the office work is not as fast paced and exciting as a dealer's. It involves keeping track of the procedural aspects of a deal. Depending upon the area of specialisation, the stockbrokers can be generally divided into four categories: (i) securities sales representatives, (ii) securities traders, (iii) securities brokers and (iv) securities analysts.

Generally speaking MBAs and post-graduates with professional qualifications can earn Rs.12,000 and above at the entry level. Most brokering firms pay performance based commissions in addition to the salary. And, believe it or not, top professionals and brokers earn in crores.

There was a time when clients were satisfied with less. Now the clients have become more demanding stockbroker should be a man of integrity. You should be sincere, hard-working and knowledgeable. In this profession, it is of utmost importance to earn the trust of investors because satisfied customers provide the best publicity. You also need to have total control over greed. In this profession, greed kills. It is very easy to be lured by the prospect of big money. A stockbroker must show utmost restraint.

• Institute of Company Secretaries of India, New Delhi. It offers a post-graduate membership course in capital market and financial services.
• Institute of Capital Market Development 1965, Arya Samaj Road, Karol Bagh, New Delhi-110 005. It offers a one-year post-graduate programme in fundamentals of capital market development.
• All India Centre for Capital Market Studies, JDC Byte Institute of Management studies and Research, Nasik-422 005. It offers a one-year post-graduate programme in capital market studies, in collaboration with the Mumbai Stock Exchange Training Institute leading to a diploma from the University of Pune.
• Mumbai Stock Exchange Training Institute, Stock Exchange Building, Fort, Mumbai. Certificate courses are run periodically throughout the year.
• Institute of Financial and Investment Planning, B/303, Ventex Vikas, Andheri East, Mumbai It offers a one-year correspondance cum-lecture course leading to a diploma in financial and investment planning.
• Institute of Chartered Financial Analysts of India, Road 3, Banjara Hills, Hyderabad. It offers courses on Chartered Financial Analyst Equity Research. The institute is also planning a number of other related programmes