Building a Career in Stock Market
People are exploring new avenues of investments which have created a demand for financial education in India
It has been empirically proven that finance provides viable and lucrative career opportunities. funds. The pandemic has triggered supernormal growth in new investors in equity, mutual funds, insurance, and other financial products. The career opportunities in the markets have grown even during the lock-down. Vineet Patawari Co-founder & CEO of financial market learning portal ELEARNMARKETS talks about career growth in the stock market.
What are the different stock market career options available?
Over the last five years, there has been an increase among people about investing in the stock markets. Traditionally, people have been inclined towards bank fixed deposits or gold as a mode of investment.
But in the present scenario, people are exploring new avenues of investments like equity and mutual funds. Hence, this has created a demand for financial education in India. The younger generation believes in doing it by themselves and not depending on any intermediaries. This very thirst for financial knowledge is also giving a rise to bright career opportunities in stock markets.
Most of the opportunities in the stock market are dynamic, fast-paced, and high-paying, which makes them attractive career options as well.
Some of these include research and analysis, portfolio management, fund management, financial management, stockbrokers, teachers and trainers, auditing, compliance, cybersecurity specialists, data scientists, stock trader, hedge fund managers, investment bankers, portfolio managers, quantitative analyst, a risk management professional.
How can aspirants increase their knowledge?
Knowledge of finance is most critical in society. A right learning framework will not just empower a candidate for employment but also help society at large become more sensitive to money management. Each person, particularly a graduate is expected to know the art of managing money since one would have earned it eventually. Also, a cross-dimensional understanding of various subjects in finance will give any finance professional an edge over others in terms of servicing the client.
Aspirants can pursue a structured degree program.
If one wants to be a self-employed professional, would you recommend it and why?
The stock market is one of the best fields to begin your career as a self-employed professional. Apart from the broader idea of becoming an investor or a trader one has the option to set up his firm such as a sub-broker, Registered Investment Advisor (RIA), and also set up their mutual fund distribution agency.
The stock market is very rewarding for somebody who wants to be self-employed and make a career out of it. Besides building a career, it helps one to assess and allocate funds for their short-term or long-term financial goals.
What are the risks involved?
One of the major risks of the stock markets is a lack of knowledge about the sector. One must not jump into the market without proper learning. Moreover, to be successful one needs to educate themselves using the variety of products available in the market, to safeguard themselves, to take calculated risks, and ultimately achieve their goals efficiently.
What are the myths around having a career in this line?
The stock market, in general, has been associated with a negative connotation that it is gambling but it is very far off from reality. The reason is that the generation before us was not much exposed to the financial sector and lacked financial literacy. But things are changing as the young generation is looking forward to learning and investing actively, shattering the myths around stock markets.
What kind of education and training is provided in India for taking up a career in the stock market?
In India, overall financial market education can be segregated into 3 categories -
1. Full-time degree programs like Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), Chartered Market Technician (CMT), Certified Financial Planner (CFP), which candidates can choose depending on the specialisation they wish to pursue within financial markets. Traditional degrees like Chartered Accountant (CA), Company Secretary (CS), Master of Business Administration (MBA) Finance have also been helping aspirants to get into financial markets.
2. Micro certifications like those issued by NCFM and NISM have been very popular because some of these certifications are regulatory requirements for being involved in markets. For example, you need a specific NISM certificate to be a Securities and Exchange Board of India (Sebi) certified Research Analyst or Investment Advisor or Mutual Fund Distributor and so on.
3. Financial market is a very practical field. The best way to learn is by getting a mentor or learning from someone who has been a trader or investor or fund manager.
What kind of training does one need to prepare?
Training is one important aspect when it comes to stock markets. For making a career in this, the right training should have a mix of theoretical as well as practical exposure. The theory alone will not help you understand the practical aspects in which the field deals. It’s like an art where you need to know what you are doing but at the same time implement it correctly.
What does Elearnmarkets offer youngsters looking for a career opportunity?
Elearnmarkets provide the prospective learner with multiple options of learning formats like Live-Interactive Program or Instructor-Led Recorded Programs which are constantly being enhanced by regular webinars and various online tools.
The courses are conducted for various modules under the category of career, trading, and investor. They cover the entire gamut of financial markets including stock markets, commodities, currency, mutual funds, insurance, financial planning, wealth management.