BROKERAGE CLERKS compute and record data on securities transactions. They assist brokers by taking calls from clients, writing up order tickets, and processing paperwork. They may contact customers and inform them of changes to their accounts. Some jobs are more clerical and require only a high school diploma, while other jobs with more responsibility need a bachelor's degree. Brokerage clerks who work in the operations departments of securities firms, on trading floors, and in branch offices, are also called margin clerks, dividend clerks, transfer clerks, and broker's assistants.
Salary, Size & Growth
- $38,500 average per year ($18.50 per hour)
- A medium occupation (57,600 workers in 2010)
- Expected to decline (0.3% per year)
Some BROKERAGE CLERK positions are more clerical and require only a high school diploma. Positions with more responsibility require a bachelor's degree. Some brokerage firms have a set plan of advancement that keeps track of college graduates from entry-level brokerage clerk jobs into management positions. These graduates usually have degrees in business, finance, or the liberal arts. No special licensing or certification is required for brokerage clerks. However, broker's assistants with a Series 7 license can make recommendations to clients at the instruction of the broker. The Series 7 license is issued to securities and commodities sales representatives by the National Association of Securities Dealers and allows them to provide advice on securities to the public.