Let’s talk stocks! Have you heard of the barter system? It has been around before money came into existence, so you can probably imagine how old it is. For centuries people have exchanged goods and services, and today’s economy just uses a modified, modernized and glammed-up version of the barter system.
It all started back in the 1600s when the concept of international trade of goods was gaining popularity. Dutch East India Company sailors would travel all around the world collecting and selling items like spices, silks and gold. But going on this long multi-country journey meant a lot of upfront investment, and where would sailors get the money without selling their goods yet. So, they came up with a system. They turned to people with money that could fund the trip in exchange for a share of the profit on return. This allowed sailors to go on even bigger journeys, and make tons of money for themselves and their investors, unknowingly inventing the world’s first stock market. Since then, companies have used money from willing investors to fund and develop all sorts of businesses.
The stock market is an endless abyss of money, and also one of the most exciting yet dicey routes to achieve financial bliss. Businesses cannot run without money, but there’s only so much money that one can have, right? The stock market is an indispensable part of the economy. It is indeed a nightmare for naïve and new investors, but for those who understand it, stocks mean magnitudes of wealth. For this reason, there are many paths for ones who wish to understand stocks. And even more opportunities for those who succeed at it. So, what are the kinds of careers in the stock market? What do they do? And how do you get there? Let’s get right to it.
Stock Brokers are the middlemen between people with money and companies that need it. This profession includes buying and selling of stocks for people who are interested and making money through the transaction. More and more people are interested in trading these days, so you can understand how much in-demand stockbrokers are. An average entry-level stockbroker can earn an average of over $60,000. When it comes to stock broking, the sky is the limit.
Financial Advisors take on several roles. They sell advice and help you come up with a tailored financial plan regarding budgeting, saving, spending, insurance, complex investments and even taxes. Financial investors also play a major role in bringing suitable investment opportunities based on your financial plan. They earn an average salary of $60,000, and again the sky is the limit – more clients mean more money.
Research Analysts/ Financial Analysts
Financial Analysts prepare and examine financial models to develop investment theses and help companies make business decisions. There are many kinds of financial analyst positions, those that research stocks, those that research firms, and those that work at investment banks. Apart from these, analysts are needed in the insurance industry, real estate industry and local banks too. Financial analysts earn between $50,000 to $150,000 based on their industry
Portfolio Management Services
This role requires relatively more experience than the others and usually consist of experienced stockbrokers and financial analysts. Portfolio managers are people that manage an entire fund’s assets. They manage mutual funds, hedge funds, venture capital funds and basically large amounts of money. They are responsible for implementing a fund’s investment strategy and performing investment activities that bring returns to their clients. The average portfolio managers salary is $100,000.
All these positions have research, analysis and a heavy focus on numbers. The way to go about creating a successful career in this field is to focus on practically learning what matters in the market. Bachelor’s degrees in business administration, math, statistics, economics, and finance can help you land a decent entry-level job. But to climb up the corporate ladder and bag higher-level jobs, a master’s degree is crucial.
In nearly all careers in the stock market, an MBA is the most desirable. It teaches you a range of subjects including accounting, management, finance, economics and entrepreneurship. Working on Wall street requires you to be an all-rounder, and an MBA is a great way to get there.
A Masters in finance is a more focused route and an alternative to the MBA. With specific topics such as risk management, corporate finance, economics and forecasting, a graduate program in finance or economics can surely be a benefit for those that have a fixed career plan and know which industry they want to get into.
The Stock Market is a fast-paced, challenging industry and to stand out among the competition, master’s degrees are often required. One from a reputable university puts you way ahead of the curve. Here are ten universities that offer the best graduate programs if you’re interested in a career in the Stock Market.
Wharton – University of Pennsylvania, USA
Wharton is one of the best B-schools in the world, and it consistently is ranked among the top 5 globally (QS world rankings). The value of a Wharton MBA is not only the knowledge and skills you learn but also the awesome network you inherit. With 99,000 alumni having your back, an MBA from here can raise your Wall Street dream to great heights.
Cost: $80,000/Year (Scholarships and Fellowships available)
Duration: 2 Years
Round 1 Application deadline: 15 September 2020
Master of Finance
Sloan School of Management – MIT, USA
This course is perfect for students looking for a finance-specific program. This course includes detailed quantitative courses like modelling and computer programming. Sloan offers an MBA too, but this program focuses rigorously on quantitative skills as well as managerial skills. Students spend a month working with top firms like Goldman Sachs, JP Morgan, Credit Suisse etc. as part of the course.
Cost: $82,000/Year (Fellowships and Assistantships available)
Duration: 12-18 months
Michigan Ross, USA
Ross believes that the best way to learn is by doing and the curriculum here throws students right into action. This B-school enthusiastically follows its motto, ‘REAL’ which stands for ‘Ross Experiences in action-based learning’, and for this reason stands on another level altogether. The university offers its REAL.START, REAL.ADVISE, REAL.INVEST, and REAL.LEAD options. For stock market enthusiasts. the REAL.INVEST offers students a chance to manage one of six investment funds overlooking millions of dollars. What’s more? Ross has an amazing alumni network.
Cost: $71,000/Year (Scholarships ranging from $10,000 to full tuition available)
Duration: 2 Years
Round 1 application deadline: 14 September 2020
Berkeley Haas – University of California, USA
Designed for students interested in finance, data science and technology. This course is perfect if you want to pursue a career as a financial analyst or portfolio manager. With a mandatory internship, the financial engineering program at Haas values hands-on and theoretical learning. The curriculum is as dynamic here as the finance industry. Also, Haas has a 100% placement record, so be assured you’ll get a great job.
Cost: $75,000 (Scholarships from $1000 to full tuition available)
Duration: 12 Months
Master of Financial Risk Management
Rotman School of Management, Canada
This is the number one financial program in Canada (QS World rankings) with more than 90% of its students employed in reputable organizations. This program is ideal for students with a knack for numbers and an interest in risk management. The Risk Management Project as part of the curriculum allows students an opportunity to deal with a current challenge along with professional risk management individuals. If you have an interest in being a financial analyst or advisor this program will benefit you.
Cost: $48,000 (Scholarships from $2,500 to $15,000 available)
Duration: 10 Months
MBA in Investment Management
John Molson School of Business – Concordia University, Canada
Concordia University is one of Canada’s finest institutions, its MBA in investment management is a one of a kind program. Students are required to pass the CFA level 1 examination in order to graduate, thereby ensuring that they have both an MBA and a CFA charter. The curriculum in this program focuses on developing investment-minded individuals for a successful wall street career. This course is ideal for pretty much every kind of job in the stock market.
Cost: $27,000/Year (Scholarships of $9,000 available to first years)
Duration: 3 Years
Desautels Faculty of Management – McGill University, Canada
The MBA offered by McGill is internationally recognized and appreciated. They have a diverse student, and faculty body with more than 75% of its MBA students coming in from different countries. The average starting salary here is $64,000, and over 90% of students get employed at top companies.
Cost: $50,000/Year (Scholarship of $10,000 available)
Duration: 2 Years
MSc in Finance
London Business School, UK
According to the QS world rankings (2019), the London Business school stands at 4th place. It is one of the most prestigious institutions in the world, and students that graduate from here earn upwards of $120,000 on average. The MSc in Finance is a one-way street to the stock market. LBS has strong links with recruiters and financial institutions, making it a perfect pitstop to get your degree.
Cost: $60,000 (Scholarships up to 100% of course fees available)
Duration: 10-16 months
MSc Finance and Economics
London School of Economics, UK
The MSc F&E is an interdisciplinary degree that is taken jointly by LSE’s Department of Finance and Department of Economics. This is the most academically rigorous program among all courses that LSE offers and hence is internationally valued. The curriculum focuses on financial economics, econometrics, macro/microeconomics. And with attention on creating, using and analyzing financial models. Students that apply should be exceptional in quants and have a fascination for finance.
Cost: $40,000 (Scholarships – Graduate support scheme, Sudipto Bhattacharya Scholarship)
Duration: 10 months
Indian Institute of Management, Bangalore
IIM-B is one of India’s finest B-schools. Its quality and credibility have been recognized for over 40 years globally. The program focuses on building a business mindset in its students so they can lead and thrive in the ever-dynamic global economy. IIM-B has exceptional finance and accounting faculty that are experienced in corporate finance, capital markets, financial accounting and more, making it a great choice for any career in the stock market
Duration: 1 Year / 2 Years