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Perform clerical duties involving the purchase or sale of securities. Duties include writing orders for stock purchases and 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.
Select a State
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U.S.
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$31,350
($15.07)
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$48,610
($23.37)
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$41,370
($19.89)
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Annual figures are on top. Hourly figures are below in parentheses.
N/A = Information not available
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The job outlook for prospective brokerage clerks is good. As the securities industry grows, the number of clerks will increase. Opportunities will be abundant relative to other securities industry occupations, due to advancement of other clerks and job growth.
Employment change. Employment of brokerage clerks is expected to grow by 20 percent during the 2006-16 decade, which is faster than the average for all occupations. With more people investing in securities, brokerage clerks will be required to process larger volumes of transactions. Moreover, regulatory changes have resulted in more legal documentation and recordkeeping requirements. Demand will be tempered, however, by continually improving technologies that allow increased automation of many tasks. Further, clerks are often seen as reducing profits, since they do not bring in customers, making them particularly prone to layoffs. Because of intense competition, especially among discount brokerages, companies must continually focus on cutting costs, meaning that many responsibilities formerly handled by clerks are now handled by the brokers themselves.
Job prospects. Because brokerage clerks are often entry-level workers, many opportunities will result from the advancement of other clerks. Prospects will be good for qualified workers. New entrants who have strong sales skills and an aptitude for understanding numbers will have the best opportunities. While not required, a 4-year degree can also be very helpful.
Brokerage clerks held about 73,000 jobs in 2006. More than 9 out of 10 worked for securities and commodities, banking, and other financial industries.
Job Zone 3 - Medium preparation
Overall Experience
Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have gone through an apprenticeship program or several years of vocational training to perform the job.
Education
Most occupations in this zone require training in vocational schools, related job experience, or an associate's degree. Some may require a bachelor's degree.
Job Training
Employees in these occupations usually need one or two years of training, including both on-the-job experience and informal training with experienced workers.
Examples
Dental assistants, electricians, fish and game wardens, legal secretaries, personnel recruiters and recreational workers.
These occupations often involve using communication and organization skills to manage and train others.
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For more information on employment in the securities industry, contact:
- Securities Industry and Financial Markets Association, 120 Broadway, 35th Floor, New York, NY 10271. Internet: http://www.sifma.org
For information on licensing, contact:
- Financial Industry Regulatory Authority (FINRA), 1735 K St. NW. Washington, DC 20006. Internet: http://www.finra.org
Sources: O*Net data version 12.0
Occupational Outlook Handbook
Department of Labor
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