I am interested in becoming a stock broker. If I want to work as a stock broker in India is it preferable to do a course abroad? Also can you tell me what I should study abroad, I am an Std XI Commerce student.
—Jigar
If you are looking to work as a stock broker in India it’s advisable that you do it in India. All the stockbrokers have to register themselves with the stock exchange(s) depending upon their dealings in the securities listed at various stock exchanges. To become a member, you need to clear a written entrance test and then undergo training, which includes subjects like accountancy, capital markets, securities and portfolio analysis and so on. On the application and consequent attainment of the membership, a certain amount has to be deposited with the stock exchange as security. Membership is given after scrutiny to ensure that the person concerned possesses the infrastructure (computer, the Internet connection, etc.) to be able to operate as a broker. Further, the option of working as a dealer or an agent with a stock broking firm is always there. If you are looking at doing stock broking abroad, the process is almost the same.
Ideally you should begin to prepare for your career in high school by taking courses in math, economics and business. And with even a small starting sum, you can manage your own stock portfolio (in a parent’s name if you are under 18) to learn about different investments and their returns. Most brokers are college graduates with a degree in finance, economics or business. Hence you should also be looking at pursuing a Bachelors in the same. Other than that, every country have their own regulatory bodies and stock exchanges examinations that you need to clear before you begin to work as a stock broker; e.g. in USA, one needs to pass the General Securities Registered Representative Examination (Series 7 exam), administered by the National Association of Securities Dealers.
I'm thinking of becoming a C.A. and am studying in Std XII right now (Commerce). Can you help me with my career? Where and what should I study abroad?
—Vinay
Chartered Accountancy is a professional course, and is country (India) specific. Every country has an equivalent course which qualifies you to practice as a chartered accountant.
In UK it is called ACCA (Association of Chartered Certified Accountants). The ACCA professional scheme is a course designed by the internationally reputed accountancy body called the ‘Association of Chartered Certified Accountants’ (ACCA). This qualification can lead to a rewarding career in accountancy, finance and business management. Similarly, other countries have equivalent courses. For example, in Canada you have Canadian Institute of Chartered Accountants (CICA) and in Australia you have the Institute of Chartered Accountants in Australia (ICAA).
These courses are pursued alongside bachelor’s studies in commerce. Depending upon where you want to work in the future, you have to select which country to do the course from.