Brokerage clerks accounted for 60,900 workers in 1998. Another substantial employment category was executive, administrative, and managerial with 163,000 workers. This industry has one of the most highly educated and skilled work force of any industry, and the requirements for entry are high-even brokerage clerks often have a college degree. The most successful workers at all levels have an aptitude for numbers and a very keen interest in investing. To be licensed, brokers and assistants must pass an examination that reflects their knowledge of investments.
Various licenses are available for different investment products.
Most workers in the securities and commodities industry are paid a salary on an annual or weekly basis. Due to advances in telecommunications and computer technology, the securities and commodities industry has become highly automated. This automation is expected to cause employment of computer scientists, computer engineers, and systems analysts, although currently relatively small in number, to more than double. On the other hand, automation has resulted in computerized record keeping of transactions, more productive administrative support staffs, and enhanced communications among foreign firms. Accordingly, employment of brokerage clerks will not grow as rapidly as the securities and commodities industry as a whole, and employment of secretaries and bookkeeping, accounting, and auditing clerks is projected to grow more slowly than the average for this industry.