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What is a Brokerage Clerk?
Brokerage Clerk 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.
Daily Life Of a Brokerage Clerk
- Compute total holdings, dividends, interest, transfer taxes, brokerage fees, or commissions and allocate appropriate payments to customers.
- File, type, or operate standard office machines.
- Monitor daily stock prices and compute fluctuations to determine the need for additional collateral to secure loans.
- Prepare reports summarizing daily transactions and earnings for individual customer accounts.
- Verify ownership and transaction information and dividend distribution instructions to ensure conformance with governmental regulations, using stock records and reports.
- Document security transactions, such as purchases, sales, conversions, redemptions, or payments, using computers, accounting ledgers, or certificate records.
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What Skills Do You Need to Work as a Brokerage Clerk?
Below is a list of the skills most Brokerage Clerks say are important on the job.
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.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Types of Brokerage Clerk
- Telephone Quotation Clerk
- Securities Processor
- Wealth Services Associate
- Client Administrator
- Client Associate
Brokerage Clerk Employment Estimates
In 2016, there was an estimated number of 60,400 jobs in the United States for Brokerage Clerk. New jobs are being produced at a rate of 5% which is below the national average. The Bureau of Labor Statistics predicts 3,000 new jobs for Brokerage Clerk by 2026. Due to new job openings and attrition, there will be an average of 6,600 job openings in this field each year.
The states with the most job growth for Brokerage Clerk are North Dakota, Arizona, and Missouri. Watch out if you plan on working in New Jersey, Maine, or Massachusetts. These states have the worst job growth for this type of profession.
Brokerage Clerk Average Salary
Brokerage Clerks make between $34,670 and $76,550 a year.
Brokerage Clerks who work in New York, Connecticut, or New Jersey, make the highest salaries.
Below is a list of the median annual salaries for Brokerage Clerks in different U.S. states.
| State | Annual Mean Salary |
|---|---|
| Alabama | $50,410 |
| Alaska | $50,050 |
| Arizona | $49,320 |
| Arkansas | $48,370 |
| California | $58,130 |
| Colorado | $55,570 |
| Connecticut | $60,400 |
| Delaware | $57,300 |
| District of Columbia | $56,570 |
| Florida | $51,360 |
| Georgia | $50,670 |
| Hawaii | $47,530 |
| Idaho | $45,260 |
| Illinois | $55,860 |
| Indiana | $47,620 |
| Iowa | $47,180 |
| Kansas | $51,050 |
| Kentucky | $44,850 |
| Louisiana | $43,750 |
| Maine | $55,650 |
| Maryland | $57,330 |
| Massachusetts | $56,950 |
| Michigan | $50,650 |
| Minnesota | $49,710 |
| Mississippi | $43,870 |
| Missouri | $45,430 |
| Montana | $42,500 |
| Nebraska | $45,250 |
| Nevada | $46,780 |
| New Hampshire | $53,800 |
| New Jersey | $59,240 |
| New Mexico | $50,510 |
| New York | $67,730 |
| North Carolina | $50,670 |
| North Dakota | $47,230 |
| Ohio | $47,710 |
| Oklahoma | $52,630 |
| Oregon | $54,340 |
| Pennsylvania | $52,070 |
| Rhode Island | $51,100 |
| South Carolina | $50,840 |
| South Dakota | $43,180 |
| Tennessee | $49,330 |
| Texas | $52,060 |
| Utah | $51,600 |
| Vermont | $59,590 |
| Virginia | $48,950 |
| Washington | $56,070 |
| West Virginia | $43,200 |
| Wisconsin | $48,140 |
| 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 Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Data entry software
- Word processing software
- Spreadsheet software
- Adobe Systems Adobe Acrobat
- Microsoft SharePoint
- Adobe Systems Adobe Photoshop
- Structured query language SQL
- Microsoft Dynamics
- Adobe Systems Adobe Illustrator
- Adobe Systems Adobe InDesign
- Oracle PeopleSoft
- Scheduling software
- Adobe Systems Adobe Dreamweaver
How to Become a Brokerage Clerk
Education needed to be a Brokerage Clerk:
What work experience do I need to become a Brokerage Clerk?
Brokerage Clerks Sector
Brokerage Clerks work in the following industries:
Other Jobs You May be Interested In
Those thinking about becoming a Brokerage Clerk might also be interested in the following careers:
References:
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