Career and Education Opportunities for Broker Assistants in Detroit, Michigan
Broker assistant career and educational opportunities abound in Detroit, Michigan. The national trend for broker assistants sees this job pool shrinking by about 2.6% over the next eight years. In general, broker assistants perform clerical duties involving the purchase or sale of securities.
The income of a broker assistant is about $18 per hour or $37,590 per year on average in Michigan. In the U.S. as a whole, their income is about $18 per hour or $38,710 annually on average. Earnings for broker assistants are better than earnings in the general category of Clerical in Michigan and better than general Clerical category earnings nationally.
There are seventy-three schools of higher education in the Detroit area, including eleven within twenty-five miles of Detroit where you can get a degree to start your career as a broker assistant. Broker assistants usually hold a Bachelor's degree, so you can expect to spend about four years training to become a broker assistant if you already have a high school diploma.
CAREER DESCRIPTION: Broker Assistant
In general, broker assistants perform clerical duties involving the purchase or sale of securities. They also duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, and keeping records of daily transactions and holdings.
Broker assistants file and operate standard office machines. Finally, broker assistants correspond with customers and talk with coworkers to respond to inquiries, consider market fluctuations, and resolve account problems.
Every day, broker assistants are expected to be able to see details at a very fine level of focus. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.
It is important for broker assistants to record and document security transactions, such as purchases and payments, using computers or certificate archives. They are often called upon to schedule and direct transfer and delivery of security certificates between companies and customers. They also ready forms, such as receipts and transfer confirmations, on the basis of transaction requests from stockholders. Somewhat less frequently, broker assistants are also expected to ready reports summarizing daily transactions and earnings for individual customer accounts.
Broker assistants sometimes are asked to compute total holdings and commissions and allocate appropriate payments to customers. They also have to be able to correspond with customers and talk with coworkers to respond to inquiries, consider market fluctuations, and resolve account problems And finally, they sometimes have to monitor daily stock prices and compute fluctuations to establish the need for additional collateral to secure loans.
Like many other jobs, broker assistants must have exceptional integrity and be reliable.
Similar jobs with educational opportunities in Detroit include:
- Bookkeeper. Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.
- Clerk. Compile data, compute fees and charges, and prepare invoices for billing purposes. Duties include computing costs and calculating rates for goods, services, and shipment of goods; posting data; and keeping other relevant records. May involve use of computer or typewriter, calculator, and adding and bookkeeping machines.
- Correspondence Clerk. Compose letters in reply to requests for merchandise, damage claims, credit and other information, delinquent accounts, or unsatisfactory services. Duties may include gathering data to formulate reply and typing correspondence.
- Courtroom Clerk. Perform clerical duties in court of law; prepare docket of cases to be called; secure information for judges; and contact witnesses, attorneys, and litigants to obtain information for court.
- File Clerk. File correspondence, cards, and other records in alphabetical or numerical order or according to the filing system used. Locate and remove material from file when requested.
- Front Desk Manager. Accommodate hotel, motel, and resort patrons by registering and assigning rooms to guests, issuing room keys, transmitting and receiving messages, keeping records of occupied rooms and guests' accounts, making and confirming reservations, and presenting statements to and collecting payments from departing guests.
- Insurance Claims Processor. Obtain information from insured or designated persons for purpose of settling claim with insurance carrier.
- Insurance Processing Clerk. Process applications for, changes to, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.
- Library Clerk. Compile records, sort and shelve books, and issue and receive library materials such as pictures, cards, slides and microfilm. Locate library materials for loan and replace material in shelving area, stacks, or files according to identification number and title. Register patrons to permit them to borrow books, periodicals, and other library materials.
- License Clerk. Issue licenses or permits to qualified applicants. Obtain necessary information; record data; advise applicants on requirements; collect fees; and issue licenses. May conduct oral, written, or performance testing.
- Municipal Clerk. Draft agendas and bylaws for town or city council; record minutes of council meetings; answer official correspondence; keep fiscal records and accounts; and prepare reports on civic needs.
- Office Clerk. Perform duties too varied and diverse to be classified in any specific office clerical occupation, requiring limited knowledge of office management systems and procedures. Clerical duties may be assigned in accordance with the office procedures of individual establishments and may include a combination of answering telephones, bookkeeping, typing or word processing, stenography, office machine operation, and filing.
- Order Clerk. Receive and process incoming orders for materials, merchandise, or services such as repairs, installations, or rental of facilities. Duties include informing customers of receipt, prices, and delays; preparing contracts; and handling complaints.
- Payroll Bookkeeper. Compile and post employee time and payroll data. May compute employees' time worked, production, and commission. May compute and post wages and deductions. May prepare paychecks.
- Procurement Clerk. Compile information and records to draw up purchase orders for procurement of materials and services.
- Receptionist. Answer inquiries and obtain information for general public, customers, and other interested parties. Provide information regarding activities conducted at establishment; location of departments, offices, and employees within organization.
- Statistical Clerk. Compile and compute data according to statistical formulas for use in statistical studies. May perform actuarial computations and compile charts and graphs for use by actuaries. Includes actuarial clerks.
- Store Clerk. Receive, store, and issue sales floor merchandise. Stock shelves, racks, and tables with merchandise and arrange merchandise displays to attract customers. May periodically take physical count of stock or check and mark merchandise.
- Weighter. Weigh, measure, and check materials, supplies, and equipment for the purpose of keeping relevant records. Duties are primarily clerical by nature.
EDUCATIONAL OPPORTUNITIES: Broker Assistant Training
Henry Ford Community College - Dearborn, MI
Henry Ford Community College, 5101 Evergreen Rd, Dearborn, MI 48128-1495. Henry Ford Community College is a large college located in Dearborn, Michigan. It is a public school with primarily 2-year programs and has 15,571 students. Henry Ford Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.
Dorsey Business Schools - Madison Heights, MI
Dorsey Business Schools, 30821 Barrington, Madison Heights, MI 48071. Dorsey Business Schools is a small school located in Madison Heights, Michigan. It is a private for-profit school with primarily less-than 2-year programs and has 216 students. Dorsey Business Schools has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.
Baker College of Allen Park - Allen Park, MI
Baker College of Allen Park, 4500 Enterprise Dr, Allen Park, MI 48101. Baker College of Allen Park is a small college located in Allen Park, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 2,548 students. Baker College of Allen Park has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated one student in 2008.
Schoolcraft College - Livonia, MI
Schoolcraft College, 18600 Haggerty Road, Livonia, MI 48152-2696. Schoolcraft College is a large college located in Livonia, Michigan. It is a public school with primarily 2-year programs and has 12,560 students. Schoolcraft College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated six and twenty students respectively in 2008.
Washtenaw Community College - Ann Arbor, MI
Washtenaw Community College, 4800 E Huron River Dr, Ann Arbor, MI 48105-4800. Washtenaw Community College is a large college located in Ann Arbor, Michigan. It is a public school with primarily 2-year programs and has 12,906 students. Washtenaw Community College has a less than one year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated thirty-one and seventeen students respectively in 2008.
Cleary University - Ann Arbor, MI
Cleary University, 3601 Plymouth Rd, Ann Arbor, MI 48105-2659. Cleary University is a small university located in Ann Arbor, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 723 students. Cleary University has an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated six students in 2008.
Baker College of Clinton Township - Clinton Township, MI
Baker College of Clinton Township, 34950 Little Mack Ave, Clinton Township, MI 48035. Baker College of Clinton Township is a medium sized college located in Clinton Township, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 5,666 students. Baker College of Clinton Township has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.
Baker College of Auburn Hills - Auburn Hills, MI
Baker College of Auburn Hills, 1500 University Dr, Auburn Hills, MI 48326-2642. Baker College of Auburn Hills is a small college located in Auburn Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,848 students. Baker College of Auburn Hills has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated one student in 2008.
Oakland Community College - Bloomfield Hills, MI
Oakland Community College, 2480 Opdyke Rd, Bloomfield Hills, MI 48304-2266. Oakland Community College is a large college located in Bloomfield Hills, Michigan. It is a public school with primarily 2-year programs and has 24,957 students. Oakland Community College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated five and seventeen students respectively in 2008.
Monroe County Community College - Monroe, MI
Monroe County Community College, 1555 South Raisinville Road, Monroe, MI 48161-9746. Monroe County Community College is a small college located in Monroe, Michigan. It is a public school with primarily 2-year programs and has 4,514 students. Monroe County Community College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated one and eleven students respectively in 2008.
Wayne County Community College District - Detroit, MI
Wayne County Community College District, 801 W Fort St, Detroit, MI 48226. Wayne County Community College District is a large college located in Detroit, Michigan. It is a public school with primarily 2-year programs and has 21,540 students. Wayne County Community College District has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated three and seven students respectively in 2008.
LOCATION INFORMATION: Detroit, Michigan
Detroit is located in Wayne County, Michigan. It has a population of over 912,062, which has shrunk by 4.1% in the past ten years. The cost of living index in Detroit, 86, is well below the national average. New single-family homes in Detroit are priced at $108,900 on average, which is well below the state average. In 2008, eighty-five new homes were built in Detroit, down from one hundred fifty-four the previous year.
The three big industries for women in Detroit are health care, educational services, and transportation equipment. For men, it is transportation equipment, construction, and administrative and support and waste management services. The average commute to work is about 28 minutes. More than 11.0% of Detroit residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.2%, is lower than the state average.
The unemployment rate in Detroit is 27.0%, which is greater than Michigan's average of 14.3%.
The percentage of Detroit residents that are affiliated with a religious congregation, 37.7%, is less than both the national and state average. The most common religious groups are the Catholic Church, the Muslim Estimate and the Lutheran Church.
Detroit is home to the Memorial Park Marina and the Detroit Golf Club as well as Chene Park and Mallett Playground. Visitors to Detroit can choose from Corktown Inn, Clark's Motel and Days Inn of Downtown Detroit for temporary stays in the area.