Stockbroker Careers: Job Responsibilities, Education & Career Prospects

Have you ever considered a career as a stockbroker? The major responsibility of a stockbroker is to buy and sell shares for their clients and generate maximum profits. These professionals work for a wide range of clients which may include corporate clients, institutional clients and private clients among others. Depending on their work profile, stockbrokers are also referred to as investment managers or wealth managers. Besides working for individual clients, these professionals also work for investment management companies, stockbroking and stockbrokerage companies.

Job Responsibilities of a Stockbroker
So, how do stockbrokers look after and manage their clients' investment profiles? While buying and selling shares, stockbrokers make profitable decisions on behalf of their clients, offer useful advices to their clients and help them identify right investment opportunities. There are many investment managers that work on behalf on their clients, whereas some others also act according to the instructions provided by their clients. Stockbrokers work in close contact with investment analysts and keep a close watch on the performance of companies and maneuvers of the stock market.

Stock brokers have the responsibility of efficiently managing their clients' investment portfolios. Updates are produces on a regular basis, so as to track the stock market movements and recognize investment opportunities that can bring benefits to clients.

A lot of research goes into the work of the stockbroker. To be able to make the right decisions, stockbroking professionals acquire an in-depth knowledge of the market, government stocks, foreign equities, domestic equities, securities etc. It is only after a great deal of research and market analysis that stockbrokerage professionals advice their clients by getting in touch with them via phone, email or meeting in person. When the client gives approval and a go-ahead, brokers or investment managers buy and sell shares on the stock exchange.

Working hours are long and hectic in the trading business. Cutting edge technology plays an important role in making up-to-date information globally available. Trading businesses operate in large open offices, equipped with large computer screens and telephones. Much of the stock exchange business is done using telephone and internet.

Educational Requirement & Training in Stockbroking
A bachelor's degree in economics, law, finance or accountancy can give your career a good start. There are several investment companies and brokerage firms that also train candidates to nurture their talents and polish their job skills. Postgraduate degrees like an MBA or an MSc will also help candidates who wish to make a career as a stock broker.

If you though this career required only a mathematical mind, you need to think again. Besides being a good team player, candidates also need to have the ability of making decisions independently. Strong analytical skill is essential to be successful in this career. While buying and selling stocks and handling the trading business, professionals need to handle a large volume of incoming information with accuracy. There is a lot of work pressure and the stockbrokerage professionals should be capable of handling all the pressure. A minor mistake can cost thousands of dollars. The broker needs to keep their clients well informed of the movements of the market and when investment opportunities open up.

Career Prospects
Plenty of employment opportunities are available with investment management companies and brokerage companies. Professionals also have the liberty of starting their own business and start working for private clients. Excellent prospects also arise when people are not pleased with their current broker and start looking for a more efficient broker. Both full time and part time employment opportunities are available for professionals. According to the U.S. Department of Labor, the employment growth rate for stock broker jobs is expected to increase at 25%, through to the year 2012.

Annual Salary
The starting salary offered in the U.S. is around $17,000. Those with five years of working experience earn an annual salary ranging between $30,000 and $49,000. With growing experience and skill set, a stockbroker's annual salary can go as high as $100,000 or more. The career becomes even more profitable when stockbrokers become fund managers and start functioning as independent consultants to banks and investment companies.