Nature of work
As a stockbroker would manage investments for his/her clients. These could be individual people, companies and large organizations. It would be his/her job to get the best financial return for his/her clients by buying and selling stocks, shares and other financial products.He/she could offer three types of service:
- Managing all his/her clients' investments and making decisions on their behalf.
- {C}Advising clients about various investment options.
- {C}Buying and selling only when clients ask him/her to, without giving advice.
For all types of service, his/her work would involve:
- {C}Managing and reviewing clients' investment portfolios.
- Helping clients develop their investment strategy.
- Researching financial markets - for this he/she would work closely with investment analysts who report on how companies and markets are performing.
- Answering clients' questions.
- Keeping clients informed about their investments and changes in the marke.t
- Instructing stock market traders to achieve the best market prices.
In larger companies, he/she might specialize in investing in certain markets such as technology or finance, or in specific regions such as the Far East.
If he/she work for private individual clients, he/she may be known as an investment manager or wealth manager.
Environment of work
He/she would work long hours, typically 7am until around 6pm, Sunday to Thursday. He/she would usually work in a large, open plan office, and spend most of his/her time at the computer and on the telephone. Professional life
Generally, new graduates should expect to be considered as 'trainees' for the first two years. However, after that time it is likely that they will move up to the next level, provided their performance is satisfactory.Self-employment/freelance work is unusual without years of experience. Part-time work is not feasible, although job sharing is possible and career breaks are becoming more common. The work is demanding - managing large amounts of other people's money is not a career for the faint-hearted.
Very high earnings are possible, especially for proprietary traders, who are often paid a bonus equivalent to a proportion of the profits made.
Getting the job
Although there are no set qualifications if you want to become a stockbroker, most employers will expect him/her to have a degree or, even better, a post-graduate qualification such as an MSc or MBA.Graduates who apply to become a trainee in an investment bank or firm of stockbrokers will be met with a rigorous series of tests and interviews.
To work as a stockbroker, you’ll need a degree. It’s an important job and your clients want to know that they have someone who is intelligent and qualified to handle their money.
The main route into stockbroking is through an employer-based graduate training programme.
You may be able to move into stockbroking if you already have a background and experience in financial services. Check with individual employers for exact entry requirements.
Skills
To become a stockbroker, he/she will need to have:-The ability to understand and analyse complex information.
-Good communication skills.
-Good maths and IT skills.
-Confidence and decision-making ability.
-A calm approach when working under pressure.
-The ability to work as part of a team as well as on your own.
-Close attention to detail.
-Good judgement of risks.
-Honesty and a trustworthy attitude.
-Strong relationship management and interpersonal skills.
Sources and references
If you need any further information on what is provided in this file, you can visit the following websites: Arab Standard Classification of Occupations, 2008, Ed. Arab Labor Organization
Summary
Stockbroker job is to manage the financial portfolio of his/her client; so this could be an individual or a company. On the advice of investment analysts, he/she will discuss with his/her client which shares to buy or sell to get them the best return on their money.Successful brokers are quick thinking, full of bright ideas and not afraid to make risky decisions in an instant. As a stockbroker he/she will be expected to:
- Research the financial markets.
- Consult investment analysts.
- Report to his/her clients.
- Monitor his/her clients' investments.
- Pitch for new clients.