Career as a Stock Broker: Lets Talk Trade

If you have the right attitude, the industry offers tremendous potential for minting money, says Saurav Mittal, a stock broker.

The Lowdown

Stock broking involves trading commodities like currencies and other financial products for clients on a commission. firms recruit freshers for assistant relationship managers (ARMs). These professionals' job is to be in constant touch with the clients, inform them of market movements and advise them on the risk they should take

Clock Work

The average day of a Relationship Manager (RM):

9 am: Study business dailies and channels and have pre-market opening briefings with seniors

10 am-3.30 pm: Trade shares and other securities when markets open. Call up clients to know their preferences or orders

3.30 pm-5 pm: Once the markets close, call the clients again to confirm orders

There is no off time for an RM, they have to be ever ready to interact with clients

The Payoff

A relationship manger with an MBA in finance can draw R2.4 lakh to R4 lakh a year (depending on the firm). Non-finance RMs earn less

Skills/Traits

• Love for the markets. You should have the pulse of the Sensex and the Nifty
• You should be a people's person
• Trust and integrity are an absolute must

Getting There

In addition to a business degree, one can get a certification from NSE or BSE. More information on NSE's Certification in Financial Markets and BSE Certification on Derivatives Exchangeare available at http://www.nseindia.com/content/ncfm/ncfm_whyncfm.htm and http://www.bseindia.com/training/bcde_test.asp

Institutes

• National Stock Exchange, Mumbai http://www.nseindia.com/content/ncfm/ncfm_whyncfm.htm
• Institute of Company Secretaries of India, New Delhi (PG course in capital market and financial services) www.icsi.edu
• The Indian Institute of Finance, New Delhi (Master of Business Finance)www.iif.edu
• NMIMS University, www.nmims.edu
• SP Jain Institute of Management & Research, Mumbai, www.spjimr.org

Pros And Cons

• Since most of your decisions are based on speculations, it is a high pressure job
• Dealing with clients daily tests the mettle of an ARM/RM
• The work can affect family life

Source: HT Horizons

Date: 3rd March, 2011

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