Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out transactions that involve money.
Financial clerks typically do the following:
Financial clerks’ job duties vary by specialty and by setting.
The following are examples of types of financial clerks:
Billing and posting clerks calculate charges and generate bills, which they then prepare to send to customers. They review documents such as purchase orders, sales tickets, charge slips, and hospital records to calculate fees or charges due. They also contact customers to get or give account information.
Brokerage clerks help with tasks associated with securities such as stocks, bonds, commodities, and other kinds of investments. Their duties include writing orders for stock purchases and sales, calculating transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and recording daily transactions and holdings.
Credit authorizers, checkers, and clerks review the credit history, and get the information needed to determine the creditworthiness, of individuals or businesses applying for credit. Credit authorizers check customers’ credit records and payment histories to decide, based on predetermined standards, whether to approve new credit. Credit checkers contact credit departments of business and service establishments for information about applicants’ credit standing.
Gambling cage workers work in casinos and other gambling establishments. The “cage” in which they work is the central depository for money and gambling chips. Gambling cage workers sell gambling chips, tokens, or tickets to patrons. They count funds and reconcile daily summaries of transactions to balance books.
Insurance claims and policy processing clerks process applications for insurance policies. They also handle customers’ requests to change or cancel their existing policies. Their duties include interviewing clients and reviewing insurance applications to make sure that all questions have been answered. They also inform insurance agents and accounting departments of policy cancellations or changes.
Loan interviewers, also called loan processors or loan clerks, interview applicants and others to get and verify personal and financial information needed to complete loan applications. They also prepare the documents that go to the appraiser and are issued at the closing of a loan.
New accounts clerks interview people who want to open accounts in financial institutions. They explain the account services available to prospective customers and help them fill out applications. They also investigate and correct errors in accounts.
Payroll and timekeeping clerks compile and post employee time and payroll data. They verify and record attendance, hours worked, and pay adjustments. They make sure that employees are paid on time and that their paychecks are correct.
Procurement clerks compile requests for materials, prepare purchase orders, keep track of purchases and supplies, and handle questions about orders. They respond to questions from customers and suppliers about the status of orders. Procurement clerks handle requests to change or cancel orders. They make sure that purchases arrive on schedule and that the items meet the buyer’s specifications.
Financial clerks held about 1.3 million jobs in 2019. Employment in the detailed occupations that make up financial clerks was distributed as follows:
| Billing and posting clerks | 484,200 |
| Insurance claims and policy processing clerks | 293,900 |
| Loan interviewers and clerks | 212,600 |
| Payroll and timekeeping clerks | 149,800 |
| Procurement clerks | 68,500 |
| Brokerage clerks | 48,600 |
| New accounts clerks | 44,300 |
| Credit authorizers, checkers, and clerks | 26,900 |
| Gambling cage workers | 14,600 |
The largest employers of financial clerks were as follows:
| Insurance carriers and related activities | 21% |
| Healthcare and social assistance | 18 |
| Credit intermediation and related activities | 18 |
| Professional, scientific, and technical services | 7 |
| Administrative and support services | 5 |
Financial clerks work in a variety of industries, usually in offices.
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.
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.
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, gambling cage workers may need training in specific gambling regulations and procedures.
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.
Communication skills. Financial clerks should be able to explain policies and procedures to colleagues and customers.
Math skills. The job duties of financial clerks includes calculating charges and updating financial records.
Organizational skills. Financial clerks must be able to arrange files so they can find them quickly and efficiently.
Median annual wages, May 2019
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 |
| Gambling 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.
Percent change in employment, projected 2019-29
Employment of financial clerks is projected to show little or no change from 2019 to 2029.
The availability of online tools, which allow financial customers to perform many tasks themselves, is expected to reduce demand for occupations such as new accounts clerks, procurement clerks, and credit authorizers, checkers, and clerks. Similarly, productivity-enhancing technology is expected to reduce demand for other clerks, such as payroll and timekeeping clerks and insurance claims and policy processing clerks.
Billing and posting clerks and loan interviewers and 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.
Despite limited employment growth, about 126,000 openings for financial clerks are projected each year, on average, over the decade.
Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
| Occupational Title | SOC Code | Employment, 2019 | Projected Employment, 2029 | Change, 2019-29 | Employment by Industry | ||
|---|---|---|---|---|---|---|---|
| Percent | Numeric | ||||||
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program |
|||||||
Financial clerks |
— | 1,343,400 | 1,346,900 | 0 | 3,500 | — | |
Billing and posting clerks |
43-3021 | 484,200 | 493,500 | 2 | 9,300 | Get data | |
Gambling cage workers |
43-3041 | 14,600 | 15,400 | 6 | 800 | Get data | |
Payroll and timekeeping clerks |
43-3051 | 149,800 | 143,100 | -4 | -6,700 | Get data | |
Procurement clerks |
43-3061 | 68,500 | 63,400 | -7 | -5,100 | Get data | |
Brokerage clerks |
43-4011 | 48,600 | 50,500 | 4 | 1,900 | Get data | |
Credit authorizers, checkers, and clerks |
43-4041 | 26,900 | 25,600 | -5 | -1,300 | Get data | |
Loan interviewers and clerks |
43-4131 | 212,600 | 230,300 | 8 | 17,700 | Get data | |
New accounts clerks |
43-4141 | 44,300 | 37,800 | -15 | -6,500 | Get data | |
Insurance claims and policy processing clerks |
43-9041 | 293,900 | 287,300 | -2 | -6,600 | Get data | |
For more information about financial clerks, visit
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
Payroll and Timekeeping Clerks
Billing, Cost, and Rate Clerks
Credit Authorizers, Checkers, and Clerks
Insurance Claims and Policy Processing Clerks
Insurance Policy Processing Clerks