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Brokers deal in commodities, stocks, shares and foreign exchange on behalf of clients or on own account, broker insurance and reinsurance, and buy and sell shipping and freight space.

Main tasks

  • Collects freight charges from client and undertakes all necessary formalities concerning customs and the loading/unloading of cargo.
  • Obtains cargo space, fixes freight charges and signs and issues bills of loading.
  • Arranges the production of auction catalogues, fixes reserve prices, attends auction and bids on behalf of client, or negotiates purchase/sale by private treaty of goods not sold at auction.
  • Provides independent advice on the suitability of insurance schemes and places insurance on behalf of client.
  • Records and transmits buy and sell orders for stocks, shares and bonds and calculates transaction costs.
  • Analyses information concerning market trends for commodities, financial assets and foreign exchange and advises client and employer on the suitability of investments.
  • Discusses buying and or selling requirements of client and gives advice accordingly.
  • Advises client on the suitability of insurance schemes and places insurance on behalf of client.

Source: Office for National Statistics.

Salary and earnings

Potential earnings

£83,764.30

Average earnings

£41,722.06

Source: Office for National Statistics' Annual Survey of Hours and Earnings (ASHE).

Skills & knowledge

The top 5 most important skills and knowledge requirements relevant to this career.

Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Active Learning

Understanding the implications of new information for both current and future problem-solving and decision-making.

Speaking

Talking to others to convey information effectively.

Monitoring

Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Customer and Personal Service

Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Mathematics

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Clerical

Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

Economics and Accounting

Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Administration and Management

Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modelling, leadership technique, production methods, and coordination of people and resources.

What course level do I need to study?

The level of study required will vary with each job, sector and company. The table below shows the level of study achieved by those currently working in this career choice.

Educational requirements: Honours, Bachelor's degree

Source: Office for National Statistics.

Level of study Percentage achieved
Level 0 1%
Level 1 2%
Level 2 21%
Level 3 26%
Level 4-5 (Higher Education) 3%
Level 6 (Bachelors) 33%
Level 7 (Masters or equivalent) 15%

Source: Labour Force Survey (LFS) data.

Economic data for careers is provided by Lightcast and also available through our Career Coach app. Job postings, employment and earnings information is represented at the regional level for the East Midlands.