Building a career in stock market
Building a career in stock market
Off late India's equity market has been performing exceptionally well. With a market capital of $3.4055 trillion, India has become the world's 6th biggest stock market. The field has also attracted young professionals and the country has 69 million Demat accounts. With over half a million people in the country into day trading, the number is steadily increasing.
Since the market is one of the top performers among large economies, the employment for stock market professionals is forecasted to grow faster than average employment by 2026. A career in the stock market is not only limited to traders or investors but has various other areas that you can choose as per your interest and cemeteries.
As the stock market is growing at a faster pace, the scope for career opportunities in the Stock Market has been blooming. Though many people are still not equipped in a stock market and struggle with knowledge and expertise. Many people are intrigued by it due to the growing trend. This growing trend and lack of expertise and knowledge have created a great demand for stock brokers and other fields in the stock market. Here are some of the career opportunities that are high in demand due to the growing and emerging trend:
Financial analyst
A financial analyst produces analytical reports, projections, and financial plans which are used by public, and private organizations, companies, and individuals for making investment-related decisions. To have a career in this field you need to have a bachelor's degree, at least a passing score in exams allotted by the CFA (Chartered Financial Analyst) institute, and a CFA certification.
Apart from this, you must have skills like presentation skills, and communication skills which are vital as a financial analyst you are expected to explain and protect your clients on the work details and plan. Knowledge of finance, and mathematics, and experience in using software tools are other vital skills one must possess. PGDM in Finance/Data Analytics will help.
Risk analyst
To have a career in this field, you need to have public speaking, and presentation skills and should have the ability to meet daily tasks and deadlines. Besides this, you should have critical thinking skills, expertise in Microsoft Excel and other analysis programs should be able to manage multiple programs and projects at the same time, and should have strong verbal as well as written communication skills. PGDM in Finance/Big Data is a must.
The responsibilities of a Risk analyst are to create reports, develop systems and processes, identify financial and economic trends, and monitor internal and external data points. To become a risk analyst, you need to have at least 5 years of experience as an analyst or in any other related field.
Investment advisor
Investment advisors are also called financial advisors who provide advice and guidance to clients related to financial investment. They play many duties such as tax planning, investment management, estate planning, and more. This career is perfect for those who are interested in offering their services to customers as per their needs and requirements.
If you are one of those who wish to pursue investment advisory then you will need a master's degree in finance, though a bachelor's degree does hold a chance in investment advisory a master's degree is well preferred. Besides educational qualifications skills like customer service, organization, analytical thinking, communication, interpersonal skills, and other skills are crucial. PGDM in finance and a certificate course in portfolio management will be of great use.
Stock broker
Stock brokers simplify trading practices, and market terms to clients and offer financial portfolios and counseling. Stockbrokers also work as advisors, dealers, security analysts, and more. To become a stockbroker, you need to hold a degree in stock broking and other educational qualifications that are in high demand by companies. To secure a career as a stockbroker MBA in finance or a Chartered Financial Analysts certification is required.
Apart from this, you need to possess skills like communication skills, logical thinking, mathematical skills, a responsible attitude, an analytical mind, and other skills. Also, this field demands 2 years of experience to become a stock broker.
Equity analyst
The duty of an equity analyst is to produce projections, and reports recommend the companies about their stocks and monitor news reports and market data to help the associated companies to update their data. If you wish to have a career as an equity analyst you will be able to work with both the firms – sell-side firm and buy-side firm. The buy-side firm is related to pension funds, wealth management firms, and other associates while the sell-side firm is associated with banks, brokerage, and more.
The educational qualifications required to have a career in this field are a bachelor's degree in accounting, finance, business administration, or any other related field. Though a master's degree is not a necessity, having one will help you build your portfolio and scope to receive higher management positions.
As more and more people are inculcating investment and trading habits, the demand for professionals increases. A stock market is a captivating place but everything depends on the knowledge that you instill in yourself. The financial world needs specialists and with exposure to the financial markets, you could get skilled to build a career in the stock market.
(The author is the Programme Director, Asia Pacific Institute of Management)