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What You Need to Know About Brokerage Clerk

Position 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.
  • Document security transactions, such as purchases, sales, conversions, redemptions, or payments, using computers, accounting ledgers, or certificate records.
  • Compute total holdings, dividends, interest, transfer taxes, brokerage fees, or commissions and allocate appropriate payments to customers.
  • Perform clerical tasks, such as answering phones or distributing mail.
  • Prepare forms, such as receipts, withdrawal orders, transmittal papers, or transfer confirmations, based on transaction requests from stockholders.
  • File, type, or operate standard office machines.

Things a Brokerage Clerk Should Know How to Do

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 Jobs

  • Trading Assistant
  • Commodities Clerk
  • Coupon Clerk
  • Registered Account Administrator
  • Securities Processor

Job Outlook for Brokerage Clerks

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

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

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.

Salary Ranges for Brokerage Clerks

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
  • Adobe Systems Adobe Acrobat
  • Spreadsheet software
  • 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

Becoming a Brokerage Clerk

What kind of Brokerage Clerk requirements are there?

Brokerage Clerk Degree Level

How Long Does it Take to Become a Brokerage Clerk?

Brokerage Clerk Work Experience

Brokerage Clerks Sector

Brokerage Clerk Sectors

The table below shows some of the most common industries where those employed in this career field work.

Brokerage Clerk Industries

You May Also Be Interested In…

Those thinking about becoming a Brokerage Clerk might also be interested in the following careers:

References:

Image Credit: Pixabay via CC0 License

More about our data sources and methodologies.

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