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:
- Keep and update financial records
- Calculate bills and charges
- Offer customer assistance
- Carry out financial transactions
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 mail 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.
Gaming cage workers work in casinos and other gaming establishments. The “cage” in which they work is the central depository for money and gaming chips. Gaming 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 1.4 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|
|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.
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, gaming cage workers may need training in specific gaming 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.
The median annual wage for financial clerks was $39,570 in May 2018.
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 $26,920, and the highest 10 percent earned more than $60,120.
Median annual wages for financial clerks in May 2018 were as follows:
|Payroll and timekeeping clerks||45,050|
|Loan interviewers and clerks||39,890|
|Insurance claims and policy processing clerks||39,660|
|Credit authorizers, checkers, and clerks||38,750|
|Billing and posting clerks||37,800|
|New accounts clerks||35,800|
|Gaming cage workers||27,490|
In May 2018, the median annual wages for financial clerks in the top industries in which they worked were as follows:
|Insurance carriers and related activities||$40,010|
|Professional, scientific, and technical services||39,390|
|Credit intermediation and related activities||38,920|
|Administrative and support services||38,350|
|Healthcare and social assistance||37,880|
Most financial clerks work full time.
Median annual wages, May 2018
- Financial clerks
- Total, all occupations
- Office and administrative support occupations
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 for financial clerks are likely to be good, because employers will need to hire new workers to replace those who leave the occupation.
|Occupational Title||SOC Code||Employment, 2018||Projected Employment, 2028||Change, 2018-28||Employment by Industry|
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program
Billing and posting clerks
Gaming cage workers
Payroll and timekeeping clerks
Credit authorizers, checkers, and clerks
Loan interviewers and clerks
New accounts clerks
Insurance claims and policy processing clerks
This table shows a list of occupations with job duties that are similar to those of financial clerks.
|Occupation||Job Duties||Entry-Level Education||Median Annual Pay, May 2018|
Bill and Account Collectors
Bill and account collectors try to recover payment on overdue bills.
|High school diploma or equivalent||$36,020|
Bookkeeping, Accounting, and Auditing Clerks
Bookkeeping, accounting, and auditing clerks produce financial records for organizations and check financial records for accuracy.
|Some college, no degree||$40,240|
Gaming Services Workers
Gaming services workers serve customers in gambling establishments, such as casinos or racetracks.
|High school diploma or equivalent||$22,810|
Information clerks perform routine clerical duties, maintain records, collect data, and provide information to customers.
|See How to Become One||$34,520|
Tellers are responsible for accurately processing routine transactions at a bank.
|High school diploma or equivalent||$29,450|
Secretaries and Administrative Assistants
Secretaries and administrative assistants perform routine clerical and administrative duties.
|High school diploma or equivalent||$38,880|
Medical Records and Health Information Technicians
Medical records and health information technicians organize and manage health information data.
|Postsecondary nondegree award||$40,350|
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
For a career video on insurance claims and policy processing clerks, visit
For a career video on payroll and timekeeping clerks, visit
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Financial Clerks,
on the Internet at https://www.bls.gov/ooh/office-and-administrative-support/financial-clerks.htm (visited ).
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