# Brokerage Clerks

US SOC code 43-4011. Markdown version of https://futurehistory.earth/timeline/43-4011

## In brief

In May 2025, [BLS](https://www.bls.gov/oes/special-requests/oesm25nat.zip) counted **35,940** US brokerage clerks, with median pay of **$65,750** a year. The earliest figure here is [an estimate](https://web.archive.org/web/20260610003647/https://www.sechistorical.org/museum/galleries/msr/msr02b_institutional_investors.php) of **150,000** from 1968, not measured the same way as today's count. The last full technology era for brokerage clerks: T+2 settlement, cloud-based portfolio systems, and algorithmic reconciliation, 2010 to 2024. Brokerage clerk employment fell between 2004 and 2024.

Figures: Official statistic (latest count and pay); Researched context (earliest figure).

## What the sources say

### Official outlook

BLS projects employment to decline 7.6% from 2025 to 2035. Source: [BLS Employment Projections 2025-35](https://data.bls.gov/projections/nationalMatrix?queryParams=43-4011&ioType=o) (Official statistic).

### AI exposure studies

- **80%** of this job's tasks are exposed to large language models. Not a forecast of job losses. [Eloundou and others, 2023](https://github.com/openai/GPTs-are-GPTs/blob/main/data/occ_level.csv) (Official statistic)

Data as of BLS OEWS May 2025; BLS Employment Projections 2025-35.

## Brokerage Clerks employment and pay by year

- On record since: 1792
- Latest US employment: 35,940 (May 2025). Source: BLS OEWS May 2025 [2]
- Latest US median pay: $65,750 (May 2025). Source: BLS OEWS May 2025 [3]
- Outlook: -7.6% by 2035. Source: BLS Employment Projections 2025-35 [15]

### All 24 years of cited US data

| Year | US employment | Annual pay (median unless marked) | Source |
| --- | --- | --- | --- |
| 1968 | 150,000 (estimate) | n/a | Est., Securities and Exchange Commission… [1] |
| 2003 | 75,380 | $34,090 | BLS OEWS May 2003 [2] |
| 2004 | 73,910 | $35,240 | BLS OEWS May 2004 [2] |
| 2005 | 70,110 | $35,450 | BLS OEWS May 2005 [2] |
| 2006 | 72,400 | $36,390 | BLS OEWS May 2006 [2] |
| 2007 | 71,170 | $37,360 | BLS OEWS May 2007 [2] |
| 2008 | 68,430 | $38,710 | BLS OEWS May 2008 [2] |
| 2009 | 62,470 | $40,180 | BLS OEWS May 2009 [2] |
| 2010 | 57,600 | $40,160 | BLS OEWS May 2010 [2] |
| 2011 | 60,720 | $41,760 | BLS OEWS May 2011 [2] |
| 2012 | 61,870 | $42,440 | BLS OEWS May 2012 [2] |
| 2013 | 60,300 | $45,450 | BLS OEWS May 2013 [2] |
| 2014 | 57,240 | $47,520 | BLS OEWS May 2014 [2] |
| 2015 | 57,490 | $48,180 | BLS OEWS May 2015 [2] |
| 2016 | 59,820 | $49,200 | BLS OEWS May 2016 [2] |
| 2017 | 58,930 | $49,800 | BLS OEWS May 2017 [2] |
| 2018 | 55,100 | $51,400 | BLS OEWS May 2018 [2] |
| 2019 | 47,990 | $52,750 | BLS OEWS May 2019 [2] |
| 2020 | 44,720 | $55,270 | BLS OEWS May 2020 [2] |
| 2021 | 39,980 | $54,000 | BLS OEWS May 2021 [2] |
| 2022 | 42,700 | $54,680 | BLS OEWS May 2022 [2] |
| 2023 | 48,060 | $60,150 | BLS OEWS May 2023 [2] |
| 2024 | 40,090 | $62,940 | BLS OEWS May 2024 [2] |
| 2025 | 35,940 | $65,750 | BLS OEWS May 2025 [2] |

## Sources (70)

### Employment series

1. [Securities and Exchange Commission Historical Society -- "Institutional Investors and Market Structure" gallery (paperwork crisis 1967-1970)](https://web.archive.org/web/20260610003647/https://www.sechistorical.org/museum/galleries/msr/msr02b_institutional_investors.php), Securities and Exchange Commission Historical Society
2. BLS OEWS, national cross-industry estimates (flat file), Bureau of Labor Statistics. Editions: [2003](https://www.bls.gov/oes/special-requests/oesm03nat.zip), [2004](https://www.bls.gov/oes/special-requests/oesm04nat.zip), [2005](https://www.bls.gov/oes/special-requests/oesm05nat.zip), [2006](https://www.bls.gov/oes/special-requests/oesm06nat.zip), [2007](https://www.bls.gov/oes/special-requests/oesm07nat.zip), [2008](https://www.bls.gov/oes/special-requests/oesm08nat.zip), [2009](https://www.bls.gov/oes/special-requests/oesm09nat.zip), [2010](https://www.bls.gov/oes/special-requests/oesm10nat.zip), [2011](https://www.bls.gov/oes/special-requests/oesm11nat.zip), [2012](https://www.bls.gov/oes/special-requests/oesm12nat.zip), [2013](https://www.bls.gov/oes/special-requests/oesm13nat.zip), [2014](https://www.bls.gov/oes/special-requests/oesm14nat.zip), [2015](https://www.bls.gov/oes/special-requests/oesm15nat.zip), [2016](https://www.bls.gov/oes/special-requests/oesm16nat.zip), [2017](https://www.bls.gov/oes/special-requests/oesm17nat.zip), [2018](https://www.bls.gov/oes/special-requests/oesm18nat.zip), [2019](https://www.bls.gov/oes/special-requests/oesm19nat.zip), [2020](https://www.bls.gov/oes/special-requests/oesm20nat.zip), [2021](https://www.bls.gov/oes/special-requests/oesm21nat.zip), [2022](https://www.bls.gov/oes/special-requests/oesm22nat.zip), [2023](https://www.bls.gov/oes/special-requests/oesm23nat.zip), [2024](https://www.bls.gov/oes/special-requests/oesm24nat.zip), [2025](https://www.bls.gov/oes/special-requests/oesm25nat.zip)

### Wage series

3. BLS OEWS, national cross-industry estimates (flat file), Bureau of Labor Statistics. Editions: [2003](https://www.bls.gov/oes/special-requests/oesm03nat.zip), [2004](https://www.bls.gov/oes/special-requests/oesm04nat.zip), [2005](https://www.bls.gov/oes/special-requests/oesm05nat.zip), [2006](https://www.bls.gov/oes/special-requests/oesm06nat.zip), [2007](https://www.bls.gov/oes/special-requests/oesm07nat.zip), [2008](https://www.bls.gov/oes/special-requests/oesm08nat.zip), [2009](https://www.bls.gov/oes/special-requests/oesm09nat.zip), [2010](https://www.bls.gov/oes/special-requests/oesm10nat.zip), [2011](https://www.bls.gov/oes/special-requests/oesm11nat.zip), [2012](https://www.bls.gov/oes/special-requests/oesm12nat.zip), [2013](https://www.bls.gov/oes/special-requests/oesm13nat.zip), [2014](https://www.bls.gov/oes/special-requests/oesm14nat.zip), [2015](https://www.bls.gov/oes/special-requests/oesm15nat.zip), [2016](https://www.bls.gov/oes/special-requests/oesm16nat.zip), [2017](https://www.bls.gov/oes/special-requests/oesm17nat.zip), [2018](https://www.bls.gov/oes/special-requests/oesm18nat.zip), [2019](https://www.bls.gov/oes/special-requests/oesm19nat.zip), [2020](https://www.bls.gov/oes/special-requests/oesm20nat.zip), [2021](https://www.bls.gov/oes/special-requests/oesm21nat.zip), [2022](https://www.bls.gov/oes/special-requests/oesm22nat.zip), [2023](https://www.bls.gov/oes/special-requests/oesm23nat.zip), [2024](https://www.bls.gov/oes/special-requests/oesm24nat.zip), [2025](https://www.bls.gov/oes/special-requests/oesm25nat.zip)

### Tool eras

4. [NYSE -- "The History of NYSE" (1792 Buttonwood Agreement and early market operations)](https://www.nyse.com/history-of-nyse), New York Stock Exchange
5. [M1 Finance -- "The History of Brokerages" (Buttonwood Agreement 1792, fixed commissions 0.25%)](https://m1.com/blog/history-of-brokerages/), M1 Finance
6. [Headcount Coffee -- "Why the NYSE Closed in 1968 Over a Paperwork Crisis" (messenger boys, certificate delivery, volume growth)](https://www.headcountcoffee.com/blogs/market-systems/1968-paperwork-crisis-forced-nyse-trading-halt), Headcount Coffee
7. [Wikipedia -- Depository Trust Company (DTC founded 1973; book-entry system; back office worker turnover 60% per year during crisis)](https://en.wikipedia.org/wiki/Depository_Trust_Company), Wikipedia / Depository Trust Company
8. [SEC Historical Society -- "Institutional Investors and Market Structure" (paperwork crisis 1967-1969; Securities Investor Protection Act 1970; Goodbody failure)](https://web.archive.org/web/20260610003647/https://www.sechistorical.org/museum/galleries/msr/msr02b_institutional_investors.php), Securities and Exchange Commission Historical Society
9. [Brown Brothers Harriman -- "The Paperwork Crisis" (organized crime stole $400M in looted securities; one-sixth of NYSE member firms merged or liquidated)](https://www.bbh.com/us/en/bbh-who-we-are/our-story/200-years-of-partnership/the-paperwork-crisis.html), Brown Brothers Harriman
10. [Federal Register -- "Securities Transaction Settlement Cycle" (2017, citing 1993 T+3 rule SEC 15c6-1, adopted Oct 6, 1993, effective June 7, 1995)](https://www.federalregister.gov/documents/2017/03/29/2017-06037/securities-transaction-settlement-cycle), U.S. Federal Register / SEC
11. [Wikipedia -- Depository Trust and Clearing Corporation (DTCC formed 1999 by merging DTC and NSCC)](https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_Corporation), Wikipedia / DTCC
12. [O\*NET 43-4011.00 -- BLS OEWS May 2024 (employment 40,800; reflects post-T+2 and pre-T+1 staffing level)](https://www.onetonline.org/link/summary/43-4011.00), O\*NET / BLS
13. [SEC Chair Gensler Statement on T+1 Implementation (effective May 28, 2024)](https://www.sec.gov/newsroom/press-releases/2024-62), U.S. Securities and Exchange Commission
14. [BLS National Employment Matrix -- 43-4011 Brokerage Clerks (2024-34 projections, -9.5%, 40,800 to 36,900)](https://data.bls.gov/projections/nationalMatrix?queryParams=43-4011&ioType=o), Bureau of Labor Statistics

### Forecasts and exposure studies

15. [BLS Employment Projections 2025-35, National Employment Matrix: 43-4011 Brokerage clerks (2025: 36.9 thousand; 2035: 34.1 thousand; -7.6%)](https://data.bls.gov/projections/nationalMatrix?queryParams=43-4011&ioType=o), Bureau of Labor Statistics
16. [Eloundou, Manning, Mishkin & Rock (2023), "GPTs are GPTs", occupation-level exposure data occ\_level.csv (O\*NET-SOC 43-4011.00, human-rated β 0.8)](https://github.com/openai/GPTs-are-GPTs/blob/main/data/occ_level.csv), OpenAI

### Historical notes

17. [NYSE -- "The History of NYSE" (Buttonwood Agreement, May 17, 1792)](https://www.nyse.com/history-of-nyse), New York Stock Exchange
18. [SEC Historical Society -- "Institutional Investors and Market Structure" (paperwork crisis; Pickard and Company failure May 1968; Securities Investor Protection Act December 1970)](https://web.archive.org/web/20260610003647/https://www.sechistorical.org/museum/galleries/msr/msr02b_institutional_investors.php), Securities and Exchange Commission Historical Society
19. [Wikipedia -- Depository Trust Company (DTC founded 1973; William T. Dentzer Jr.; book-entry system)](https://en.wikipedia.org/wiki/Depository_Trust_Company), Wikipedia
20. [M1 Finance -- "The History of Brokerages" (fixed commissions abolished May 1, 1975; commission drop from 80 cents to 4 cents per share by 2000)](https://m1.com/blog/history-of-brokerages/), M1 Finance
21. [Federal Register -- "Securities Transaction Settlement Cycle" (2017, citing 1993 Rule 15c6-1)](https://www.federalregister.gov/documents/2017/03/29/2017-06037/securities-transaction-settlement-cycle), U.S. Federal Register / SEC
22. [Wikipedia -- Depository Trust and Clearing Corporation (DTCC established 1999)](https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_Corporation), Wikipedia
23. [SEC Chair Gensler Statement on T+1 Implementation, effective May 28, 2024](https://www.sec.gov/newsroom/press-releases/2024-62), U.S. Securities and Exchange Commission

### Predecessors & successors

24. [NYSE -- "The History of NYSE" (Buttonwood Agreement 1792, early securities counting houses)](https://www.nyse.com/history-of-nyse), New York Stock Exchange

### Present-day analysis

- [Eloundou et al. 2024 — GPTs are GPTs (Science)](https://arxiv.org/abs/2303.10130), accessed 2026-05-21
- [O\*NET 30.3 — US Department of Labor](https://www.onetcenter.org/database.html), accessed 2026-05-21

How to read these figures: https://futurehistory.earth/methodology. Every figure links to its own source; gaps stay gaps.