| The stock brokers are not only concentrating on the soaring Sensex but also busy with recruitment to manage their expanding networks.
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| Stock brokers were likely to create over 50,000 job opportunities in next one year for various functions, if unconfirmed reports are to be believed.
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| The broking houses are hunting for people to manage job responsibilities in areas such as back office, system maintenance, marketing, customer relationship, dealer and analysis.
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| Stock brokers were also looking for sophisticated IT professionals to commission and maintain their latest technical backbone and equipment.
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| All prominent stock broking houses, such as Indiabulls, Anagram Stock Broking, Fortis Securities, Geojit Financial and Apollo Sindhoori Capital Investments, and several local players, were expanding their networks.
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| At the same time, increasing trading on commodity exchanges fuelled the growth of markets resulting in demand for more manpower.
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| Opinion leaders in the sector said educational institutes should now focus on introduction of focused courses for training students in stock and commodity trading.
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| Talking to Business Standard, VK Sharma, director of Anagram, said the firm would recruit about 400 personnel in next 12 months.
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| "The demand for the right manpower is increasing very rapidly as almost every small and big stock broking houses are in an expansion mode", he said. "We are also witnessing increasing poaching for manpower in the sector", he added.
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| "We have plans to increase the size of our team to 1,400 from existing about 1000 members", he indicated.
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| "Of the 400 new people, 300 will be placed for new opportunities and rest will take over the existing posts that are likely to be vacant on account of poaching from others," he added.
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| To meet challenge from poachers, Anagram has decided to pick up commerce graduates who have not been able to become chartered accountants and train them.
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| The broking house said its was hopeful it would be able to retain graduates longer as they usually avoided taking risks owing to lack of a degree.
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| Geojit Finance recruited over 200 people in the last 12 months and intended to add 300 more in next 12 to 18 months.
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| "We are planning about 75 new branches in next 18 months that will require about 300 people. The requirement and salaries of the manpower in the sector has increased at the rate of increase in BSE and NSE indices. We will mainly recruit the graduates and post graduates in commerce and finance who are traditionally known to get into accounting and finance management," said Satish Menon, COO, Geojit Finance.
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| However, the sector was also facing competition from BPO houses in attracting talent.
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| The outsourcing of financial services resulted in demand for candidates with commerce and finance background.
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| The outsourcing companies were proving to be better pay masters for freshers with the right qualification and command over language.
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| Menon stated there were number of institutes that were offering training in stock trading but they were not adequate. More institutes were needed so that more trained manpower was available for employment in stock trading as the sector was growing rapidly for two years now, said Menon. |
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