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Career As A Stockbroker - Career - Nairaland

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Career As A Stockbroker by mrgenius1: 7:35pm On Nov 30, 2010
i am currently an undergraduate of a university.does anyone have information on how to become a stockbroker and the career as a whole?
Re: Career As A Stockbroker by babyx(f): 12:16pm On Dec 01, 2010
@ Poster,

first bag Bachelors degree in any of the Social Science discipline, subsequently you register for the Chartered Institute for Stockbrokers exams, pass all the diets (also after graduation & NYSC, try and secure a job with a Stockbroking firm) and you will be inducted as a Dealing Clerk ( it is important as well as an added advantage to have working experience with in stock broking firm, even if your job description is centered on Operational activities).

Focus
Re: Career As A Stockbroker by Nobody: 2:03pm On Dec 04, 2010
babyx:

@ Poster,

first bag Bachelors degree in any of the Social Science discipline, subsequently you register for the Chartered Institute for Stockbrokers exams, pass all the diets (also after graduation & NYSC, try and secure a job with a Stockbroking firm) and you will be inducted as a Dealing Clerk ( it is important as well as an added advantage to have working experience with in stock broking firm, even if your job description is centered on Operational activities).

Focus

pls do u know this stockbroking firm; Meristem Securities? they are located on the Island in Lag. a friend is currently being interviewed as an experienced profesional. he alraedy works with one of these new generation banks and not doing badly. pls can u enligthen me on salaries, staff welfare, growth, career opportunities, training packages, incentives (e.g healthcare, housing, car allowances), bonuses etc. it is worth leaving his current place for? i'll really appreciate a reply from u or from anyone that has an idea of the company and wat goes on within it. thanks alot.
Re: Career As A Stockbroker by DisGuy: 5:16pm On Dec 04, 2010
^^ normally one can contact the prospective companies to ask questions regarding staff salary band, wlefare and it should even be on the advert, or you can make friends with anyone in the HR and ask these questions

and you can also ask during the interview undecided
Re: Career As A Stockbroker by Nobody: 9:28pm On Dec 04, 2010
^^^^^^ thanks for the reply. the problem now is that interview process is really really rigorous and one must get to the final stage b4 asking those questions. i just wanted to get some info from pple that know them, so incase one is not satisfied he would'nt bother continuing with the interview. its taking alot of his work time and the boss has started complaining. anyways, i'll try to talk to an insider if possible. thanks.
Re: Career As A Stockbroker by babyx(f): 4:38pm On Dec 06, 2010
@bettymafy

Yes, i do know Meristem Securities, they are not doing badly considering the current state of the Stock market. Many stockbroking firms have since shut down operations, for those that are still in the market shows the strength of the business they run.
Career progression in a Broking firm is not a function of the job title you hold but rather your drive to learn the Market in fast pace, again it depends also on the type of structure the Stock broking firm has. For Meristem i don't know what the package is, but i do know that the Drivers earn as much as N50,000 monthly. So if you do the maths it means that Trainees might not earn less than 60k.

By and large, one shouldn't really concern oneself about what they pay, focus should be on if you meet/surpass their expectations, any sane employer will pay you your monies worth. The question i will ask your friend is 'Why does he want to change Jobs or industry'? again, does he qualify for the position he has applied for or being interviewed for?. Please note that employers will pay higher packages once they realize that the applicant is exactly what they are looking for.

Let him think, plan and pray.
Re: Career As A Stockbroker by Nobody: 3:09pm On Dec 11, 2010
@babyx
Thank u so much for your informative reply. Helpful, to say the least. I'm quite sure he is qualified for the job. His dream has always been to work with The Nigerian Stock Exchange, but as u know, they only recruit experienced professionals in stockbroking. He feels that with his experience in Meristem Securities (that is, if he eventually gets in, because its really really competitive), he can move over to NSE. How do u see that? is it possible? or is he just 'dreaming'?
However, he likes his job responsibility in the bank, as it is not the usual marketing, but he is also afraid of the job instability in the Banking sector ( the hiring today and firing 2moro thingy) which i really do wonder if it is any better in Meristem. We'll surely talk write more as events unfold. Pls do get back. Thanks and have a nice day.
Re: Career As A Stockbroker by babyx(f): 4:53pm On Dec 14, 2010
@bettymafy,

Your friend has good dreams, sounds like a man with Ambitions.
Am not certain how people get to work with the NSE (their recruitment process), but i suspect its a Govt Parastatal. My advice is for him to define what he wants and how he wants to go about achieving it. The Ball is in his court!

focus is the key :-)
Re: Career As A Stockbroker by Nobody: 7:16pm On Dec 14, 2010
^^^^ Thanks alot for that. We do hope and pray for the best. Will sure update u.

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