January 2nd, 2013
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For those who enjoy making money and investing, working as a stockbroker may be the ideal situation. In South Africa, individuals do not necessarily have to have a college degree to enter this field, but they do need ample training to do well in the industry. Putting in the time to learn and develop investment skills can help individuals to achieve their goals and to earn lucrative salaries. What’s required of those who wish to work as stockbrokers, then?
South African Institute of Stockbrokers
To be a practicing member of the SAIS, or South African Institute of Stockbrokers, individuals must meet specific goals. Since this industry requires individuals to have ample training in various areas, individuals must take into consideration having a college level education. This agency requires individuals to have the following qualifications.
Individuals who have one of the following qualifications may be able to enroll in this membership.
- B. Com (Hons) Investment Advice
- Chartered Accountant in South Africa
- Chartered Financial Analyst
Those who have a University Degree and who have taken the programme, “Programme in Investment Analysis & Portfolio Management”, also known as the PIA and PM, will qualify to become a member of the organization. There are five modules to this course that must be complete.
Those who do not have a University degree, but who have completed a three year programme through the SAIS through the Institute of Bankers in South Africa plus have one year within the PIA & PM curriculum, will qualify.
A final option to qualify is to be an employee of the JSE Securities Exchange South Africa, with at least two years of experience. These individuals will need to pass one of the following exams in order to qualify under this specific requirement:
- Registered Persons Exam
- Settlement Officers Exam
- Compliance Officers Exam
- Securities Dealers Exam
- JSE SAFEX Exam
- Or, they must have one year of PAI&PM bridging course completed.
Individuals must obtain this license in order to work in this field. This license ensures that those who work as stockbrokers have ample knowledge and experience to provide advice for individuals and companies. Since the job of a stockbroker is to provide advice about how individuals and companies can obtain their financial goals, these individuals must be able to find the right types of investments for the investors, considering factors such as risk tolerance and investment goals.
After stockbroker training what are the earning like?
Individuals working as stockbrokers have ample opportunity to earn a sizeable income, but to do so, they must be able to make wise investment decisions. That’s not always easy to do. With ample training and education in this field, these individuals have more opportunity to achieve these goals.
In South Africa, having and maintaining a license is a critical component of this type of success. University education is still the most preferred option for those who plan to enter into this field, but getting started in a company as a trader does not always require this. On the job training can be incredibly valuable, too.