Careers in Brokerage Operations

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Brokerage operations personnel, occasionally additionally called brokerage clerks, ensure accurate document keeping within the securities enterprise. Automation keeps to lessen the general need for team of workers on this location, and the remaining positions are less involved with guide procedures for recording statistics and greater targeted on monitoring automatic document keeping structures.

According to the Federal Bureau of Labor Statistics (BLS), total employment of brokerage clerks changed into more or less 60,000 in May 2013, as opposed to a hundred ninety,000 in 1990. Of the 2013 determine, about 38,000 had been employed in securities brokerage corporations, and the rest in other varieties of financial services organizations. Despite the longtime decline in brokerage operations jobs, the BLS initiatives 4% annual increase in employment over the subsequent several years.


Normally, a bachelor’s degree is sufficient. A excessive faculty diploma used to be the top academic attainment of the sizeable majority of brokerage clerks but rarely is so these days.


Formal certifications generally aren't required. However, for a few brokerage operations positions, a FINRA certification along with a Series 7 license may be favored. If the operations clerk is anticipated to have direct touch with customers, being registered permits greater latitude in what this individual may also discuss with clients.

Duties and Responsibilities

Per the Bureau of Labor Statistics, there are five foremost classes of brokerage operations personnel. Depending at the corporation, a particular function can also combine the obligations of greater than one of these.

  • Purchase and sale clerks make certain that securities trades bring about the proper movement of securities positions between economic offerings corporations and client money owed.
  • Dividend clerks ensure that dividends (and interest) are amassed whilst due and credited to the right account, whether belonging to a client or to the organization itself.
  • Transfer clerks execute adjustments in the registration of securities certificate. Staffing on this subject is in extreme decline, as the usage of paper certificate has plummeted.
  • Receive and deliver clerks cope with the motion of securities certificates amongst securities companies. This is any other field in decline as bodily certificates emerge as out of date.
  • Margin clerks tune clients’ compliance with the terms and situations of margin loans (that is, loans to finance purchases of securities).

Typical Schedule

Brokerage operations employees typically have a wellknown 40 hour paintings week. However, for the duration of durations of especially high buying and selling quantity, extra time can be required.

What’s to Like

Experience in brokerage operations may be great training inside the intricacies of various protection kinds and of the monetary offerings enterprise as an entire. Registered brokerage operations employees maintain the crucial credential, a Series 7 license, vital for turning into a financial advisor if they wish to take this direction.

What’s Not to Like

Many jobs in brokerage operations can be repetitive and rote. In instances of high buying and selling quantity, retaining up with the work can be taxing.

Salary Range

Per the Occupational Employment Statistics posted by the Federal Bureau of Labor Statistics, median annual reimbursement for brokerage clerks changed into approximately $45,450 as of May 2013, a 7% boom from the parent of $42,440 mentioned for May 2012. The pinnacle 10% had been incomes over $sixty nine,730 in May 2013.