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What Does it Take to Be a Brokerage Clerk?

Career 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.

What Do Brokerage Clerks Do On a Daily Basis?

  • Prepare forms, such as receipts, withdrawal orders, transmittal papers, or transfer confirmations, based on transaction requests from stockholders.
  • Verify ownership and transaction information and dividend distribution instructions to ensure conformance with governmental regulations, using stock records and reports.
  • File, type, or operate standard office machines.
  • Correspond with customers and confer with coworkers to answer inquiries, discuss market fluctuations, or resolve account problems.
  • Monitor daily stock prices and compute fluctuations to determine the need for additional collateral to secure loans.
  • Compute total holdings, dividends, interest, transfer taxes, brokerage fees, or commissions and allocate appropriate payments to customers.

Brokerage Clerk Needed Skills

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.

  • Securities Clerk
  • Quotation Checker
  • Operations Specialist
  • Client Service Associate
  • Coupon Clerk

Is There Job Demand for Brokerage Clerks?

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. 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 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.

What is the Average Salary of a Brokerage Clerk

The salary for Brokerage Clerks ranges between about $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.

How much do Brokerage Clerks make 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

Tools & Technologies Used by Brokerage Clerks

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

Education needed to be a Brokerage Clerk:

Brokerage Clerk Degree Level

How Long Does it Take to Become a Brokerage Clerk?

Brokerage Clerk Work Experience

Where do Brokerage Clerks Work?

Brokerage Clerk Sectors

The table below shows the approximate number of Brokerage Clerks employed by various industries.

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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