This is a customer oriented career. The advent of the internet has reduced the necessity of incessant conversation between the client and the stock broker to a great extent but that has not provided much work-relief to the brokers. The reason is, the increase in the number of investors is staggering. The computers have solved many problems related to buying and selling, but have created additional ones. Everybody is running the race against time. The career in the stock market is meant for the mentally tough. Besides, you must have the basic interest in such activities. With the backup of such innovative interest, you will be able to build yourself by continuous application. The learning process never ends. The syllabus of shares is continuously expanding. You must have the applications of a politician, an economist, a sociologist and mathematicians put together to study and make a career out of the subject.
This is a career where you are answerable generally and sometimes specifically to thousands of investors who look forward to your guidance and trust. No investors will thank you for suffering losses. You are paid commission for the work that you do but at the same time, you have an ambition to succeed in your mission. A successful dealer is appreciated by the clients and attains popularity in the investors? circle. A satisfied customer is your best sales representative. This is a career of adventure, integrity and trust. Notwithstanding the use of the internet, transactions worth thousands of dollars are sometimes carried out through verbal communications.
Like the Banking Industry, new avenues are sprouting which have direct bearing on the transactions taking place in the Stock Exchange. Initially you can find opening in any reputed dealer as an apprentice, and then go to master the intricacies of the working under the atmospheres of pressure, in the playground of gains and losses. Some of the important sectors of investments are Investment Banking, Insurance Advisor, and Registered Broker for Commodities and Futures, retail Broker, Institutional Broker in trading equities or trading fixed income, IT-Securities Industry Specialist, distributor of stock books and magazines and the like.
You are a permanent learner here and you never reach the peak. Not permanent victory or defeat-what mattes in stock exchange is permanent effort. You need to have the perseverance to learn continuously. Your customer's interest are always more important than your self-interests. This is the business ethics.
For a career in the Stock market, you need not be a Chartered Accountant, Cost Accountant, CFA or MBA. Apart from the aptitude, you need to pass two examinations for entry. One is the General Securities Registered Representatives Examination. You need to work initially with a firm for four months for gaining practical experience. You will also have to pass an additional examination called Uniform Securities Agents State Law Examination. When this exercise is completed, you are ready to get into the business and by now you have the knowledge of theory aspect and the common terminologies related to trading and legal aspects. When you complete these examinations, you are still a trainee and will continue to enjoy that status for two years.
You are in a new profession now. You have entered the ?college of self-education? where your mind is your Principal. Your analytical abilities are your tutors. Once you have the license as a broker the practical test to your skills commences, and it all depends upon your business acumen and how the investor community accepts you as a dealer.