Why We Love It
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$51,640Potential Avg. Salary
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9.1%Job Growth Rate
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Growing DemandJob Outlook
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Fast Paced CareerCareer Attribute
A stock brokerage clerk is chiefly responsible for ordering and recording the purchase, holding or sale of bonds, stocks, commodities and securities. You will use current computer equipment and applications to process various transactions related to investments or holdings.
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What is a Stock Brokerage Clerk?
Duties
Stock brokerage clerks perform a range of diverse functions involving the following:
- Review and prepare vendor invoices for payment – both freight and brokerage fees.
- Confirm that all back-up supporting documents for billing are received on time, copied and filed for official records.
- Support the accounting assistant with preparing all client invoicing packages.
- Communicate with customers and check back with co-workers regarding general inquiries, market fluctuations or resolving account issues.
- Prepare important forms like withdrawal orders, transmittal papers, receipts depending on transaction requests from various stockholders.
Day In The Life
Through your day, you will be frequently corresponding with clients and working with other team members to resolve any issues regarding their account or discuss the latest market trends. You will also be organizing the smooth transfer of security certificates between different department levels, companies and customers. A big part of your day will be devoted to prepare forms depending on individual needs like receipts and transfer confirmations. Since completing paperwork is a significant task, you may file, operate and make copies using standard office equipment like printers and copy machines.
Since you are working in an ever fluctuating market, keeping regular track of daily stock prices and irregularities will help you to decide whether additional collateral is required to get loans. Last but not least, having advanced skills in mathematics and statistics is beneficial since you will be expected to compute equity numbers like brokerage fees, interest rates, transfer taxes, dividends and more.
Work Schedule And Typical Hours
In this type of role, you are expected to work forty hours per week in a standard hectic office environment. The type of work can be tiring due to its repetitive nature and requires you to work in close collaboration with others. Sometimes, overtime workload occurs due to the busy periods at the stock or bond market with high activity.
Growth Of The Job
As a stock brokerage clerk, you can progress by taking on more responsibilities leading to higher salary which gradually transitions to senior or supervisory roles. With enough experience and academic credentials, you can become a fully qualified broker. Between 2014 and 2024, those employed in this job sector can see an overall growth rate of 6%, which is the average rate for most professions in the country.
Typical Employers
You can find work with securities or brokerage firms for entry level positions based on your geographic location, popularity of the industry and your level of training. In the role of a stock brokerage clerk, you will enjoy a benefits package that includes retirement plans, life insurance and paid vacation days.
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How To Become a Stock Brokerage Clerk
To start out, one has to possess a high school diploma or its equivalent in this industry. Having basic computer or software knowledge such as word processing and spreadsheet applications will be advantageous. In most cases, you will receive preliminary on the job training from your employer to strengthen your skillset before starting your work. Training can involve formal classroom study.
You can find more promising employment opportunities with an undergraduate or graduate credential, e.g. as a college graduate with a degree in business or finance. Obtaining a Series 7 brokerage license from National Association of Securities Dealers (NASD), can allow you to act as a registered agent of the firm and be a valuable asset among employees. In addition, you should be comfortable working in a fast-paced environment with a team attitude. Handling stress is also a must since the work can be on short notice with tight deadlines.
This career is meant for individuals who like set office hours and schedules of expected duties on a regular basis. Love for working with data and a detail-oriented personality is helpful since you must work with detailed information on stock and bond markets. Sometimes, this industry will require you to take risks and handle the consequences of negative business deals, so patience and a calm attitude will take you far.
Stock Brokerage Clerk Salary Data
We’ve provided you the following to learn more about this career. The salary and growth data on this page comes from recently published Bureau of Labor Statistics data while the recommendations and editorial content are based on our research.
National Anual Salary
Low Range
$38,970Average
$51,640High Range
$76,270National Hourly Wage
Low Range
$19/hrAverage
$25/hrHigh Range
$37/hrHow do Stock Brokerage Clerk salaries stack up to other jobs across the country? Based on the latest jobs data nationwide, Stock Brokerage Clerk's can make an average annual salary of $51,640, or $25 per hour. This makes it an Above Average Salary. On the lower end, they can make $38,970 or $19 per hour, perhaps when just starting out or based on the state you live in.
Salary Rankings And Facts
#367 Nationally for All Careers
Highest Education Among Stock Brokerage Clerks
- 1.1% Doctorate
- 1% Masters
- 36.1% Bachelors
- 16.9% Associates
- 19.9% College
- 23.4% High School
- 1.6% Less than High School
Job Growth Projections and Forecast
2014 Total Jobs
57,2002024 Est. Jobs
62,400Job Growth Rate
9.1%Est. New Jobs
5,200How does Stock Brokerage Clerk job growth stack up to other jobs across the country? By 2024, there will be a change of 5,200 jobs for a total of 62,400 people employed in the career nationwide. This is a 9.1% change in growth over the next ten years, giving the career a growth rate nationwide of Below Average.
Growth Rankings And Facts
#237 Nationally for All Careers
What Companies Employ The Most Stock Brokerage Clerks
| Industry | Current Jobs | New Jobs Needed | % Increase |
|---|---|---|---|
| Securities and commodity contracts intermediation and brokerage | 37,000 | 1,800 | 2% |
| Other financial investment activities | 7,700 | 2,900 | 3% |
| Depository credit intermediation | 6,000 | 400 | 0% |
