Nature of the Work

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

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

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.