3531 — Brokers

What this occupation covers

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.

Typical duties

advises client on the suitability of insurance schemes and places insurance on behalf of client

discusses buying and or selling requirements of client and gives advice accordingly

analyses information concerning market trends for commodities, financial assets and foreign exchange and advises client and employer on the suitability of investments

records and transmits buy and sell orders for stocks, shares and bonds and calculates transaction costs

provides independent advice on the suitability of insurance schemes and places insurance on behalf of client

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

obtains cargo space, fixes freight charges and signs and issues bills of loading

collects freight charges from client and undertakes all necessary formalities concerning customs and the loading/unloading of cargo

Entry routes and qualifications

There are no formal academic requirements although many employers require entrants to possess a degree or equivalent qualification. Training is typically undertaken in-house, although entrants may attend courses run by professional institutions. Registration with a regulatory authority may be required in some positions.

Sponsorship information

Higher Skilled. Actual duties, sponsor, applicant, salary and any transitional or shortage-list conditions must be checked.

Full Table 1 going rate: £52,400 at 37.5 hours. The applicable salary requirement can differ: use the calculator.

DBS assessment

No code-wide DBS assessment is assigned. Check actual duties, activities, workplace, frequency and jurisdiction. This code does not determine the level of check.

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