One of the most demanding professions in the world, broking and sales trading, is also one of the most rewarding. Brokers and sales traders analyze events worldwide to analyze and study fluctuations in the stock market to reap rich dividends.Recent downturn, bankruptcy of the corporate giants, layoffs, etc. all these significant events are linked with fluctuations in the stock market.
Behind this highly volatile but important stock market, are a rapid growing section of brokers and sales traders, who tracks the development of various stocks and equities and help their client base for decision making in buying or selling decisions.
The broking business can be narrowed down to 3 functional area, research, sales and trading. All the major broking houses have these 3 areas as their core activity. Research is a highly skilled function which needs a keen insight about the economic scenario and the ability to analyze the data. The people who are in sales function should be able to filter the research data and presenting simplified information to its client base for increased profitability.
A broker is necessarily an intermediary between the stock market and the investor. A retail broker generally deals with a huge number of orders per day whereas a sales broker deals with lesser orders of huge amount worth millions of dollars. As per the rules an institutional investor cannot place 10 million dollars directly at one go, that’s where need for a sales trader creeps in.
An MBA in Finance; CPA, CFA, and bachelors in management (specializing in finance, commerce or trading) would be an ideal degree to step in to the world of broking and sales trading. Vocational courses in broking, capital markets and relationship management are available which are for short term and relatively inexpensive.
Generally a person starts off in a back office and after exposure moves to broking and trading function. Good quantitive skill, faster decision making ability with awareness of global economic scenario makes one perfect for this industry. This profession is known for its high rewards and also considerable risk. This field fed with capital from insurance and mutual funds companies offers a great scope to prosper and grow. This industry can give you the opportunity to create wealth for others and yourself.