Brokerage Clerks


Nature of the Work About this section

Brokerage clerks perform a number of clerical duties pertaining to transactions involving securities, such as stocks, bonds, commodities, and other kinds of investments. Duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and keeping records of daily transactions and holdings.

Education and Training About this section

Brokerage clerk positions usually require only a high school diploma, but graduates from 2- and 4-year college degree programs are increasingly preferred. Short term on-the-job training is common.

Job Outlook About this section

Current and Projected Employment.

2008 Employment 67,600
2018 Employment 65,800
Employment Change -1,800
Growth Rate -3%

Employment change. Employment of brokerage clerks is expected to decline slowly. Industry consolidation and increased automation of securities transactions through electronic networks will reduce the need for brokerage clerks. Additionally, clerks are often seen as reducing profits as they don’t bring in customers, thus making them particularly susceptible to layoffs and downsizing.

Job prospects. Keen competition is expected for most jobs as the financial services industry undergoes further consolidation and the number of applicants is expected to exceed the number of job openings. Those with job related experience or a 2-year or 4-year degree should have the best opportunities.

Earnings About this section

Median annual wages for brokerage clerks were $38,710 in May 2008.


Bill and account collectors; Billing and posting clerks and machine operators; Bookkeeping, accounting, and auditing clerks; Tellers.

Sources of Additional Information About this section


Disclaimer:

Links to non-BLS Internet sites are provided for your convenience and do not constitute an endorsement.

  • Securities Industry and Financial Markets Association, 120 Broadway, 35th Floor, New York, NY 10271. Internet: http://www.sifma.org

O*NET-SOC Code Coverage About this section

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Suggested citation: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition, Brokerage Clerks, on the Internet at http://www.bls.gov/oco/ocos145.htm (visited February 09, 2010).

 

Last Modified Date: December 17, 2009