Career Path to become Head - Broking
Role / Profile
Who can become ?
The head of broking is a professional who is responsible for handling and managing the brokerage department of an organisation. He/she is also associated with locating potential investors and building relationships with the present clients.
What are the roles & responsibilities of a head of broking?
Apart from growing the organisation’s brokerage business, the head of broking has various other responsibilities like:
• Understanding the requirements of the clients and making policies on how to fulfil them.
• Managing a team of brokers by giving them proper training and providing constructive feedback whenever needed.
• Making strategies to improve the overall financial revenue generated from the acquired clients.
• Creating business processes on how to perform in-depth analysis of clients’ investments and how to prepare plans suited for different requirements.
• Ensuring that all customer processes are performed on time and they have a positive experience.
What are the skills required to become a head of broking?
To have a successful career as a head of broking, you need to have the following skills:
• Strong analytical and strategic thinking abilities.
• Excellent communication (verbal and written) skills.
• Good customer relationship building skills.
• In-depth knowledge of broking, wealth management and investment schemes.
• Good multi-tasking and interpersonal skills.
What are the career outcomes after a head of broking role?
With experience working as a head of broking, you can expect to get opportunities in one of the following career profiles:
• Finance Head
• Business Head
• Chief Financial Officer
What is the average salary of a head of broking?
The average salary of a head of broking is approximately ₹ 10 to ₹ 15 Lakhs per annum and it may vary according to the individual’s qualification, experience and the type of organisation he/she is working with. Generally, a professional who has a certification in broking has a better career growth than a non-certified professional.
What are the career advantages of becoming a head of broking?
There are various benefits associated with the position of head of broking, some of which are as follows:
• As a head of broking, you will have a good knowledge of the business processes involved in the investment industry. It will prove to be highly valuable when you move to a higher position in the future.
• The position is very challenging and will help you in gaining tremendous skills in handling top clients and get invaluable time management skills.
• In this work profile, you will often meet various professionals from different industries, which will help you form a good professional network.
• Finance Managers
• Managers – Brokerage
• Financial Analysts
• Stock Brokers
Who can become a head of broking?
• Non-experienced professionals – It is tough to move in to a head of broking role without any experience in the industry. However, you can go for a certification course and acquire the necessary skills.
• Experienced professionals – Most experienced professionals are expected to have good knowledge in brokerage industry and investment plans. You can always boost your skills with a professional training course.
Naukri Learning offers a plethora of courses in brokerage and investment which can help you to boost your career, get better jobs and improve your salary.
What is the eligibility of a head of broking?
There is no hard and fast eligibility criteria for choosing a head of broking. However, a certain amount of skills in brokerage and investment schemes is essential to be eligible for interviews. If you want to boost your skills in these areas you can always go for a certification course.
Why are candidates going for a head of broking profile?
Head of broking is a prominent position in the investment or brokerage industry and candidates vie to reach that level. Here are some of the other reasons why candidates prefer to go for a head of broking profile:
• Finance Managers – One can earn loads of commissions and incentives in the brokerage and investment industry. Thus most finance managers, with some amount of idea in the field, prefer to move to a head of broking role, which can improve their career and also earn more.
• Manager – Brokerage/Stock Brokers – For stock brokers and manager – broking, the role of a head of broking is a step up in their professional life. The average salary also increases when someone moves from a manager – brokerage or stock broker position to a head of broking.
Recruiters usually look for the following points while hiring a head of broking candidate:
• Prior experience – Recruiters usually prefer candidates who have experience in the profile. However, one can display their skills and level of confidence to deliver in that profile to convince the recruiters. You can take the help of an online training course.
• Key skills – Broking, Stock broking, wealth management, investment strategies, stock evaluation, client management, portfolio management, etc.
Who are the top recruiters that hire a head of broking?
Many big investment and stock broking companies hire a head of broking to manage their overall business processes and growth. Some of the top companies are JP Morgan, Angel Broking, Morgan Stanley, WNS, and Fidelity Investments.