Whether it’s a capital market, cricket or Indian politics, these sectors have intrigued most of the populace. Interestingly, only 23 million of the total Indian population actively trade at the stock exchange. The number is far below the expectation as a career in the stock market is still not the top priority among youths.
Perhaps the notion of comparing the stock market to gambling has ruined the game. However, the gambling enigma over the stock market is fading away. With more and more public participation in the Indian growth story, the NBF sector is bound to grow even faster than it is already growing.
The future of the market will see large demands for professionals in capital markets. If you’re planning to endeavour into the stock business there are certain skillsets that you should be aware of. We’ll try to provide the crux of becoming successful in capital markets.
Let’s start with what brokers do in the stock market?
Stockbroker as an operator is involved in buying and selling of stocks, mainly for their clients. Their work involves a high volume of transactions on daily basis. Stockbrokers remain in contact with their clients on regular basis. At the same time, stockbrokers make sure their firms also make profits, which is the prime motto of every stockbroker. Earlier, operators used to do manual trading in the trade arena, however, all the operations today are computerised, with highly trained and qualified specialists keeping a close watch on the market. In today’s competitive market individuals cannot survive unless they have a knack for thinking on their feet and in high-pressure situations.
The minimum educational qualification required to become a stockbroker is graduation with at least 2 years of experience in a stockbroking firm. A sub-broker (the previous stage of being a broker) needs to have passed the class 12th standard to be eligible for his job. While entering the stock market most individual who doesn’t have enough capital start off their career as a stockbroker.
Required personality or temperament for success in the stock market
In this section, we shall discuss the key ingredients to becoming a stock market player and enjoying a highly gratifying, challenging and lucrative career in the stock market.
Get certifications: Having core knowledge is the essential part if you’re planning to have a career in the capital markets. There are several stock market certificates available online and offline, which will enhance your learning before getting into the real game. We have covered the certification section in one of our posts do check it out.
Passion for the work: Needless to say capital markets aren’t for the faint-hearted, you should be passionate about the stock, companies, working management etc. The market demands continuous learning and adapting mindset, if you’re looking for a comfortable job then this isn’t the job for you. People in this field are ruthless and relentless, period.
Integrity matters a lot: If you are working in this field then a high volume of capital will be available at your disposal. Hence, it’s your moral and ethical responsibility to make sure you or your organization should not associate with any fraudulent transactions. The present-day market is highly regulated by the Security and Exchange Board of India (SEBI) and regular audits happen at the company level to ensure compliance. Even if you’re planning to become big in the long run, trust can only be brought through mutual trust and integrity.
Domain Specification is a must: The stock market is a huge ocean and one should know where you stand in the wilderness. Apart from regular trading, you can opt for the Broking and Distribution, Wealth Management, and Equity Capital Market (ECM) side of investment banking. Having a clear idea about your interest will help you in long run.
Read regularly and thoroughly: It’s always beneficial to attain SME once you’ve worked in the capital market for a significant time. However, it’s the regular study and attention to detail that sets you apart from your contender. It’s common knowledge that stalwarts in the capital market whether it is Warren Buffet, Rakesh Jhunjhunwala or Ramdeo Agarwal, one thing that is common among them- they are vociferous readers. Individuals need to keep themselves updated by reading daily newspapers. For starters, beginners can start with ‘The Intelligent Investor’—Benjamin Graham.
The stock market can give you lucrative life however, one should be aware of the dark side of investing as well. If you’re serious about this business then you should be mentally prepared for frequent failures. The capital market is a perfect example of Darwin’s theory, only the fittest survive in the long run.
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