Financial clerks held about 1.4 million jobs in 2018. Employment in the detailed occupations that make up financial clerks was distributed as follows:
| Billing and posting clerks | 486,300 |
| Insurance claims and policy processing clerks | 308,800 |
| Loan interviewers and clerks | 226,300 |
| Payroll and timekeeping clerks | 150,400 |
| Procurement clerks | 70,800 |
| Brokerage clerks | 56,100 |
| New accounts clerks | 41,900 |
| Credit authorizers, checkers, and clerks | 30,300 |
| Gaming cage workers | 16,300 |
The largest employers of financial clerks were as follows:
| Insurance carriers and related activities | 21% |
| Credit intermediation and related activities | 18 |
| Healthcare and social assistance | 18 |
| Professional, scientific, and technical services | 7 |
| Administrative and support services | 5 |
Financial clerks work in a variety of industries, usually in offices.
Work Schedules
Most financial clerks work full time.
A high school diploma or equivalent is typically required for most financial clerk jobs. These workers typically learn their duties through on-the-job training.
Education
Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, have a 2- or 4-year college degree.
Training
Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.
Advancement
Financial clerks may advance to related occupations in finance. For example, a loan interviewer or clerk may become a loan officer, and a brokerage clerk may become a securities, commodities, and financial services sales agent, after obtaining the required education and license.
Financial clerks typically have an interest in the Persuading and Organizing interest areas, according to the Holland Code framework. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.
If you are not sure whether you have a Persuading or Organizing interest which might fit with a career as a financial clerk, you can take a career test to measure your interests.
Financial clerks should also possess the following specific qualities:
Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.
Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.
Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.
The median annual wage for financial clerks was $40,540 in May 2019. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $27,730, and the highest 10 percent earned more than $61,160.
Median annual wages for financial clerks in May 2019 were as follows:
| Brokerage clerks | $52,750 |
| Payroll and timekeeping clerks | 46,180 |
| Procurement clerks | 43,310 |
| Insurance claims and policy processing clerks | 40,750 |
| Loan interviewers and clerks | 40,640 |
| Credit authorizers, checkers, and clerks | 40,100 |
| Billing and posting clerks | 38,740 |
| New accounts clerks | 36,550 |
| Gaming cage workers | 28,040 |
In May 2019, the median annual wages for financial clerks in the top industries in which they worked were as follows:
| Insurance carriers and related activities | $41,100 |
| Professional, scientific, and technical services | 40,680 |
| Credit intermediation and related activities | 39,760 |
| Administrative and support services | 39,640 |
| Healthcare and social assistance | 38,640 |
Most financial clerks work full time.
Employment of financial clerks is projected to grow 5 percent from 2018 to 2028, about as fast as the average for all occupations. Detailed projected growth rates for these occupations are viewable in the table.
The availability of online tools is expected to slow future employment growth and has reduced demand for many of these occupations, including credit authorizers, checkers and clerks, procurement clerks, and new accounts clerks. Similarly, productivity-enhancing technology is slowing demand for other clerks, such as payroll and timekeeping clerks.
Billing and posting clerks, loan interviewers and clerks, and insurance claims and policy processing clerks do tasks that are less susceptible to automation, namely contacting and interviewing applicants and customers to gather information. Therefore, these clerks are expected to see employment growth in line with the healthcare, banking, and insurance industries, respectively.
Job Prospects
Job prospects for financial clerks are likely to be good, because employers will need to hire new workers to replace those who leave the occupation.
For more information about financial clerks, visit
CareerOneStop
For a career video on brokerage clerks, visit
For a career video on credit authorizers, checkers and clerks, visit
Credit Authorizers, Checkers, and Clerks
For a career video on insurance claims and policy processing clerks, visit
Insurance Claims and Policy Processing Clerks
For a career video on payroll and timekeeping clerks, visit