What Does a Stock Broker Do?
The day-to-day activities of stockbrokers vary. These professionals primarily work in office settings, but some offer services and consultations at their clients’ offices. Experienced stockbrokers may travel to foreign countries to advise clients overseas.
Stockbrokers commonly work overtime in stressful, fast-paced environments. Stock values change daily, and stockbrokers must stay current with these changes. These professionals work with companies and individuals. They sell stocks on behalf of companies to individuals with money to invest. Stockbrokers manage stock portfolios and try to help their clients earn profit from their investments. They must know how to analyze changes and alter selling and trading strategies to help clients and companies meet their goals.
Self-employed stockbrokers often complete additional job responsibilities. For example, they must know how to obtain new clients through advertisements and word-of-mouth marketing. They must also keep track of their company’s financial information for tax purposes.
While earning a degree in stockbroking, students can select a concentration in a subject like security trading, financial analysis, financial management, or personal financial advising.
Security trading involves making high risk-and-reward decisions on buying and selling securities for an employer. Financial analyzing courses teach students how to study and interpret financial trends to offer advice to clients. A financial management concentration covers how to manage and set financial goals on behalf of an organization. Personal financial advising involves the same topics but for individuals.
Some stockbrokers may earn additional certifications to expand their services. For example, they may become registered fiduciaries. These professionals manage money for a business or individual. Fiduciaries assume more of a financial advising role and must legally place their clients’ needs first.
Minimum Qualifications for Stockbroker
A candidate for the profession of stockbroker must meet specific educational and physical requirements. The following are the requirements for obtaining a stockbroker license.
A minimal level of schooling is required. At least 2 years of experience at a stockbroking company after graduation.
To be qualified for employment, a sub-broker (before becoming a broker) must have passed class 12.
The mandatory retirement age in India is 21 years old.
To become a qualified stockbroker, an education in the specialist fields of commerce, business administration, or economics is recommended.
A postgraduate degree in commerce or economics, or an MBA in Financial Markets, might be pursued to gain more understanding.
Go through How to become a stock broker to know More.
What is the Stock Broker Salary in India?
The Stock Brokers Salary is not fixed. He gets brokerage commission from his clients. Whenever his clients buy or sell stocks, he receives a certain amount of commission. The stock broker can earn a commission of ₹ 5000 to ₹ 100 Crores per month. It all depends on the number of clients he has. The higher the number of clients trade, the higher the commission will be.
