Margin clerk vs payment processor

The differences between margin clerks and payment processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a margin clerk and a payment processor. Additionally, a payment processor has an average salary of $34,030, which is higher than the $33,158 average annual salary of a margin clerk.

The top three skills for a margin clerk include margin, client accounts and NYSE. The most important skills for a payment processor are customer service, patients, and data entry.

Margin clerk vs payment processor overview

	Margin Clerk	Payment Processor
Yearly salary	$33,158	$34,030
Hourly rate	$15.94	$16.36
Growth rate	-5%	-5%
Number of jobs	66,330	33,161
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 35%
Average age	51	51
Years of experience	6	6

Margin clerk vs payment processor salary

Margin clerks and payment processors have different pay scales, as shown below.

	Margin Clerk	Payment Processor
Average salary	$33,158	$34,030
Salary range	Between $26,000 And $40,000	Between $27,000 And $42,000
Highest paying City	-	San Jose, CA
Highest paying state	-	Alaska
Best paying company	-	University of California, Berkeley
Best paying industry	-	Insurance

Differences between margin clerk and payment processor education

There are a few differences between a margin clerk and a payment processor in terms of educational background:

	Margin Clerk	Payment Processor
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Margin clerk vs payment processor demographics

Here are the differences between margin clerks' and payment processors' demographics:

	Margin Clerk	Payment Processor
Average age	51	51
Gender ratio	Male, 59.8% Female, 40.2%	Male, 21.5% Female, 78.5%
Race ratio	Black or African American, 7.1% Unknown, 4.0% Hispanic or Latino, 15.0% Asian, 5.0% White, 68.2% American Indian and Alaska Native, 0.6%	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between margin clerk and payment processor duties and responsibilities

Margin clerk example responsibilities.

Manage multiple deadlines for numerous payroll divisions and complex division budget reports with accurately and efficiently.
Evaluate whether NYSE rules are violated.
Maintain all records of securities that are due and are paid for by the due dates.
Monitor institutional DVP (delivery versus payment) accounts for trade accuracy, timely settlements, and problem resolutions.
Authorize and aid in the delivery of various securities between firm brokers, customer accounts, and other brokerage firms.
Maintain and provide timely and accurate reconciliations of various general ledger accounts and perform special projects as assigned.

Payment processor example responsibilities.

Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
Prepare and print all reports for EDI processing.
Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
Investigate and take corrective action regarding invoices reject by system or through EDI.

Margin clerk vs payment processor skills

Common margin clerk skills

Margin, 51%
Client Accounts, 17%
NYSE, 9%
Securities, 8%
Wire Transfers, 7%
Stock Exchange, 4%

Common payment processor skills

Customer Service, 15%
Patients, 10%
Data Entry, 10%
ACH, 8%
Phone Calls, 5%
Credit Card Payments, 4%