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Brokerage Clerks

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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.

  • 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.

Forecasted Number of Jobs for Brokerage Clerks in U.S.

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.

Salary Ranges for Brokerage Clerks

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?

Brokerage Clerk Degree Level

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

Brokerage Clerk Work Experience

Where Brokerage Clerks Are Employed

Brokerage Clerk Sectors

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

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