What Do Brokerage Clerks Do?

Job Description: Perform duties related to the purchase, sale or holding of securities. Duties include writing orders for stock purchases or sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, distributing dividends, and keeping records of daily transactions and holdings.

A Day in the Life of a Brokerage Clerk

• Prepare reports summarizing daily transactions and earnings for individual customer accounts.
• Prepare forms, such as receipts, withdrawal orders, transmittal papers, or transfer confirmations, based on transaction requests from stockholders.
• Monitor daily stock prices and compute fluctuations to determine the need for additional collateral to secure loans.
• Perform clerical tasks, such as answering phones or distributing mail.
• File, type, or operate standard office machines.
• Correspond with customers and confer with coworkers to answer inquiries, discuss market fluctuations, or resolve account problems.

Skills Needed to be a Brokerage Clerk

Brokerage Clerks state the following job skills are important in their day-to-day work.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking: Talking to others to convey information effectively.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Time Management: Managing one’s own time and the time of others.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Related Job Titles for this Occupation:

• Brokerage Purchase-and-Sale Clerk
• Commodities Clerk
• Brokerage Assistant
• Coupon Clerk
• Transaction Processor

Is There Going to be Demand for Brokerage Clerks?

In the United States, there were 60,400 jobs for Brokerage Clerks in 2016.

New jobs are being produced at a rate of 5% which is lower than average. The Bureau of Labor Statistics predicts 3,000 new jobs for Brokerage Clerks by 2026. There will be an estimated 6,600 positions for Brokerage Clerk per year.

The states with the most job growth for Brokerage Clerks are Texas, Florida, and Arizona.

Watch out if you plan on working in New Jersey, Massachusetts, or Washington. These states have the worst job growth for this type of profession.

Do Brokerage Clerks Make A Lot Of Money?

Brokerage Clerks Make between $34,670 and $76,550 a year. A Brokerage Clerk median salary is $51,400.

How much do Brokerage Clerks make in different U.S. states?

Annual Mean Salary by State

State	Annual Mean Salary
New York	$67,730
Connecticut	$60,400
Vermont	$59,590
New Jersey	$59,240
California	$58,130
Maryland	$57,330
Delaware	$57,300
Massachusetts	$56,950
District of Columbia	$56,570
Washington	$56,070
Illinois	$55,860
Maine	$55,650
Colorado	$55,570
Oregon	$54,340
New Hampshire	$53,800
Oklahoma	$52,630
Pennsylvania	$52,070
Texas	$52,060
Utah	$51,600
Florida	$51,360
Rhode Island	$51,100
Kansas	$51,050
South Carolina	$50,840
North Carolina	$50,670
Georgia	$50,670
Michigan	$50,650
New Mexico	$50,510
Alabama	$50,410
Alaska	$50,050
Minnesota	$49,710
Tennessee	$49,330
Arizona	$49,320
Virginia	$48,950
Arkansas	$48,370
Wisconsin	$48,140
Ohio	$47,710
Indiana	$47,620
Hawaii	$47,530
North Dakota	$47,230
Iowa	$47,180
Nevada	$46,780
Missouri	$45,430
Idaho	$45,260
Nebraska	$45,250
Kentucky	$44,850
Mississippi	$43,870
Louisiana	$43,750
West Virginia	$43,200
South Dakota	$43,180
Montana	$42,500
Wyoming	$40,140

What Tools do Brokerage Clerks Use?

Although they’re not necessarily needed for all jobs, the following technologies are used by many Brokerage Clerks:

• Microsoft Word
• Microsoft Excel
• Microsoft Office
• Microsoft PowerPoint
• Data entry software
• Microsoft Outlook

Becoming a Brokerage Clerk

What education is needed to be a Brokerage Clerk?

What work experience do I need to become a Brokerage Clerk?

Where Brokerage Clerks Are Employed

Related Careers

Those interested in being a Brokerage Clerk may also be interested in:

• Credit Authorizers

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons