Financial clerk essential career information:
- 2012 median pay: $36,850
- 2012, number of jobs: 39,290
- Employment growth forecast, 2010-2020: 11 percent
- Entry level education requirements: High school diploma or equivalent
Financial clerks; what they do:
If tracking money, organizing finances coming in and going out of a corporation and working with numbers seems interesting, then a financial clerk career may be in the future. Financial clerks perform financial and administrative tasks for brokerage firms, credit card companies, insurance offices and many other industries. Financial clerk careers include organizing and maintaining records, assisting customers, and carrying out financial transactions.
An insurance clerk career involves maintaining and updating financial records, tracking and computing charges and billing, dealing with all financial transactions, and answering customer questions.
Depending on their specific title, financial clerks can perform a wide variety of financial and administrative tasks for many different industries. For example, billing and posting clerks work in areas such as healthcare and deal with billing invoices, healthcare insurance policy issues, hospital records and other charges.
An insurance claims clerk career involves dealing with different insurance claims issues such as policy cancellations and changes, customer questions and processing applications. Some other areas financial clerks may work in include payroll and loan departments, gaming industries and credit card companies.
Financial clerk job titles:
- Billing and Posting clerk
- Gaming Cage Worker
- Payroll Clerk
- Procurement Clerk
- Brokerage Clerk
- Credit Clerk
- Loan Interviewer
- New accounts Clerk
- Insurance Claims and Policy Clerk
Financial Clerks Education, Certification and License Requirements
People interested in a financial clerk career typically need a high school diploma. They usually receive on-the-job training. Some fields, such as brokerage firms, may require financial clerks to have a college degree in business.
During training a financial clerk works under experienced clerks or supervisors; the length of training usually lasts a month or less. In some areas, financial clerks may need specific technical training, for example, in the gaming industry clerks need education in regulations, procedures and policies.
Financial Clerks Job Outlook
Forecast: 11 percent employment growth for financial clerks from 2010 to 2020, about as fast as the average for all occupations. As financial clerks work in a variety of industries, the specific employment outlook varies from job to job.
Forecast: 20 percent employment growth for billing and posting clerks. Medical billing in particular has a steady growth due to the increasing need for healthcare services, especially with an aging population.
Forecast: Nine percent employment growth for insurance claim and policy clerks; any future growth is largely dependent on the performance of the insurance industry.
The Bureau of Labor Statistics forecasts a decline in employment in specific areas such as loan interviewers and financial clerks in the gaming industry.
Financial Clerks Salary
- 2012 median annual wage: $36,850
- 2012 workers at the 75th percentile annual wage: $45,700
- 2012, workers at the 25th percentile annual wage: $30,480
- Credit intermediation and related activities
- Insurance carriers
- Ambulatory healthcare services
- Professional, scientific and technical services