Best Paying Jobs in Precious Metals – Are you looking to make a career change?There are many opportunities that you can profit from, including the precious metals industry.The precious metals industry can provide a stable career. You can make a good living and enjoy many perks, like full-time health insurance.The industry that deals with precious metals is thriving because of the strong and consistent demand.This article will discuss the highest paying careers in precous metals and precious metals.
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What is precious metals?
Precious metals, which are rare elements in nature, are precious metals. Because of their rarity, beauty, utility, and historical value as a store-of-value, they have high economic value. Gold, silver, as well as platinum are the three most valuable precious metals. Iridium and palladium are also valuable precious metals for their industrial applications.
For thousands of years, gold, silver, and the platinum metals have been treasured. Precious metals have been the backbone of the global economy throughout history.
Although they aren’t used widely as currency today, precious metals can still be used in investments and industrial processes. Investors still have a need to protect themselves against economic instability and inflation by purchasing gold and silver.
What is the job of a precious metal worker?
Anyone who is directly involved in precious metals work is called a precious metal worker. This definition includes a broad range of occupations in the precious metals industry.
Is Precious Metals is a Good Career Path?
Yes, precious meetals is good career path ,this is a great career option for anyone who loves working with precious metals. There is no need to worry about your professional growth as long as precious metals remain a luxury item.
You don’t need to have years of experience in precious metals, or a university degree. However, certification and prior employment will help you get the job faster than a college degree.
This career path will allow you to work with many clients and still have a lot of personal responsibility. Based on your skills, it is possible to find work within the precious metals industry.
It is possible to work in jewelry design, goldsmithing or precious metals if you have a passion for creativity and detail.
There are many opportunities in the precious metals industry for people with all levels of skill, so it’s worth looking into.
The key job categories for precious metals
The following are the most common categories for precious metal jobs:
- Repairing and crafting precious metals
- Selling precious metals
- Analyse and appraisal of precious metals
- Specialization in a particular type or process of precious metals
These categories include a range of jobs in precious metals. Let’s now dive into the details of the precious metals sector. The current status of the Precious Metals Industry The current state of the precious metals sector will confirm its value as a career option. As of 2019, the industry’s value is $182.1 million. It is expected that it will grow at a 9% compound annual rate.
How to get into the Precious Metals industry
The entry barrier for the precious metals industry is low, with some positions requiring a degree. It can be simple to get an entry-level position while you work towards a better-paying job. These are the steps you need to take in order to get into the precious metals sector.
- Learn about the job. You can sell jewelry and coins if you already have a high-school diploma or GED.
- To find the basic requirements for employment, research the jobs in the industry.
- You can increase your industry knowledge by enrolling for a degree program or vocational certification.
- To enter your chosen field, you must complete the necessary degree or certification.
- You can apply for other jobs that are related to your dream job.
- Apply for the job you want and get your dream job!
- Keep learning more about precious metals to ensure you are able to continue your advancement in this field.
The precious metals industry offers job opportunities
For thousands of years, precious metals jobs have existed. There isn’t much demand today for precious metals workers. There are still many opportunities.
Important jobs in precious metals
These are the most popular jobs in the precious metals sector:
- Precious metal worker
- Precious metal broker
- Goldsmith
- Specialist in quality control
- Metals specialist
- Advisor for precious metals
- Analyst
- Specialist in jewelry and coins
- Appraiser, designer or jewelry salesman
How Many Jobs are Available in precious metals?
In the United States, there are 32,400 precious metal workers. This represents 0.02% U.S. employment for 2022. Over the next 10 years, there is no significant industry change. According to the U.S. Bureau of Labor Statistics, there will be approximately 3,800 jobs per year for precious metal and precious stone workers between 2020 and 2030. Remember that precious metals and precious stone jobs are not always available in every state.
Precious metal workers are the highest-paid industries
The average salary for the highest-paid jobs in precious metals can be estimated. Salary depends on the industry in which the job is located. The chart below shows the approximate salaries for the various sub-industries of the precious metals industry.
| Industry | Average pay per year | Average pay per hour |
|---|---|---|
| Nondepository credit intermediation | $64,880 | $31.19 |
| Merchant wholesalers of durable goods | $58,580 | $28.16 |
| Management of companies and enterprises | $50,280 | $24.17 |
| Jewelry, luggage, and leather goods stores | $48,520 | $23.33 |
| Miscellaneous manufacturing | $43,260 | $20.80 |
| Employment services | $43,210 | $20.78 |
| Professional, scientific, and technical services | $42,740 | $20.55 |
| Personal and household goods repair and maintenance | $41,710 | $20.05 |
| Nonferrous metal production and processing | $39,310 | $18.90 |
| Electronic shopping and mail-order houses | $37,960 | $18.25 |
List Of 16 Best Paying Jobs in Precious Metals
1. Dealer in Precious Metals
People who are precious metals brokers buy and sell both new and used precious metals.
They are responsible for providing cash to consumers, holding the items as collateral and estimating the item’s value based on its retail price or the market value precious metals or gemstones.
They are also responsible for determining an item’s worth. A metal trader or broker is one of the highest-paid jobs in precious metals. They typically make around $110,000 annually.
2. Goldsmiths:
A goldsmith is a skilled metalworker who works with precious metals such as gold.
Goldsmiths made silverware, platters and goblets in the past. They also created beautiful utilitarian tools as well as religious or ceremonial objects.
A goldsmith’s essential work activities include soldering, shaping metal, fixing jewelry, repairing and setting stones, changing ring sizes, cleaning and polishing jewellery, and grading precious stones.
Additionally, the average American goldsmith’s income is between $38,163 to $66,777.
3. Quality Assurance and Control Specialists
Quality control specialists work in many industries, including manufacturing and food production. They are responsible for ensuring exiting products are free from defects and comply with external regulations and internal requirements.
What salary can one make as a quality assurance specialist in America?
The quality control specialist for precious metals is also responsible for these:
- Any necessary repairs to metals.
- Tests and evaluations of the products.
- Support the improvement of metals processes
- Find the problem and fix it with a product.
- Product Assessments and Tests
- Identify Product Defects. …
- Recording and reporting issues …
- Support Process Improvements …
- Do the necessary repairs.
What is the average salary of a Quality Assurance Specialist in the United States? As of February 25, 2022 the average US Quality Assurance and Control Specialist I Salary was $62,309 – $70,000
4. Specialists in Metals and Steel Production
Specialists in steel production should be able to conduct feasibility studies, formulate key requirements for production’s technical processes, evaluate technical and organizational decisions regarding output quality, and supervise the execution of technological processes.
For specialists in metals and steel production, the job requirements include:
Analyzing the product to determine its chemical composition. Manufacturing of alloys that have the desired properties in their final form. This includes the conversion of raw ore into finished steel.
A metal production and process specialist is one of the highest-paid jobs in precious metals. The average salary is $78,106.
5. Consult or Advisor on Precious Metals
A precious metal consultant, a specialist in precious materials, advises people and businesses about precious metals. Typically, the consultant works on a contract or temporary basis until a specific need is met.
An advisor or consultant in precious metals works closely with customers to evaluate market events and determine the best position for them.A precious metals consultant is one of the highest-paid jobs in precious metals and earns $81,687 annually in the United States.
6. A specialist in jewelry and coins
As a Jewelry and Coin Specialist, you can get accurate appraisals and even rewards. This job involves the purchase, testing, and sale of collectibles including currency and precious metals.
Additionally, the average annual salary for a jewel and coin specialist in America is between $50,000 to $70,000.
7. Precious Metal Broker
Second-hand dealers who buy new and used precious metals are called precious metals brokers. They are responsible for estimating the value of an item based on market prices, precious metals, or stones. They also offer customers cash and hold the items as collateral.
8. jewelry salesperson
A jewelry salesperson can help clients find the perfect diamond ring, bracelet or earrings for them.
Your responsibilities include selling jewelry and maintaining the store. You also have to assist customers browsing or buying jewelry. You will need to be able to comprehend the various metals and jewelry-making techniques.
This sector generates the largest revenue by far, with jewelry being the most popular.
This profession includes a wide range of activities such as selling and buying precious and semiprecious stone, as well as determining their value.
A salesman at a jewelry shop might make between $30,000 to $40,000 annually, depending on their commissions and base income. This is one of the highest-paying jobs in precious metals.
9. Jeweler
Jewelers are artists who create jewelry from metals, gems and other materials. A jeweler can also fix, adjust, clean and provide an estimate for a piece.Jewelry has been made for many years. Evidence suggests that jewelry was made in Africa as far back as 75,000 years ago.
Jewelry has been around for many years and has been used for so much more than its aesthetic appeal. Jewelry has been used to make money and keep away bad things. People who are skilled in making jewelry today have many career options.
You can make a career out of jewelry maintenance. “Repair” does not just include “setting” or “refitting”, but also includes some aspects of how jewelry is made. A jewelry repairer’s income is directly proportional to how many pieces of consumer jewelry he can fix in a given period.
You may need to work at a large chain of retail stores for some of these jobs. There are still opportunities to work with smaller businesses and collaborate with multiple jewelry retailers.
10. Manager of Jewelry Sales
The sales manager is responsible for managing the entire sales process, from beginning to end. They meet with clients to determine their needs, then develop a sales strategy to target them. Sales managers in jewelry must have a good understanding of the products and market trends.
11. Jewelry appraisal
An appraisal of jewelry is the process of determining the value of a piece. This is done for many reasons such as insurance, estate planning, or just to determine the value of a piece of jewelry. An appraiser with expertise in these areas will be able give you an accurate estimate on the jewelry’s value.
12. Jewellery Design
Jewellery designers can create jewelry out of a variety materials like gold, silver and precious stones.
They create a variety of items from precious metals and minerals such as necklaces, bracelets and even wedding bands and brooches.
Jewelers can earn anywhere from $40,000 to $50,000 depending on their work location and the company they work for.
13. An analyst in Precious Metals Operations
An Analyst in Precious Metals Operations is needed to assist with the growth of this multi-product, highly successful organization.This position will allow you to assist in daily Precious Metals activities. Analysts in precious metal operations are responsible for studying and understanding the working processes of metals.Precious metals analysts are one of the highest-paid jobs. Their annual salary ranges between $30,000 and $40,000.
14. Gemologist:
Gemology refers to the study and analysis of gemstones by gemologists, who are trained professionals. They determine the true value of gemstones and whether they are real.
Gemology is a highly specialized field. People who work in this area usually have extensive work experience.
The jobs with the highest pay are usually given to those who have the most experience.
If you’re interested in becoming a jewelologist, you’ll need to be able recognize different types of gems and know how to assess their quality. You will also need to understand the various markets in which gems can be traded.
A gemologist is one of the highest-paid jobs in precious metals. An annual salary of $60,000 is the norm.
15. Miner:
A miner is someone who extracts minerals from the earth through mining. A miner is a person who excavates minerals from the earth by mining. The expression can be used in two ways.
In the most strict sense, a miner is someone who works on rock faces, such as cutting, blasting or any other method of removing it.
Mining is one industry that offers some of the highest-paying jobs.
A miner’s average income is high. The work itself is stable.
They can also be eligible for incentives and commissions proportional with the amount of precious metals that they extract.
The average salary for a miner, one of the highest-paid jobs in precious metaks is between $50,000 to $60,000.
16. Lapidaries:
Lapidaries are skilled artisans who work with precious metals or stones. These artisans are responsible for creating beautiful jewelry and other products from these precious metals and stones.
Lapidary work is not easy. This job requires both skill and perseverance.
However, the pay can be quite good, especially if the parts are of high quality.
The median annual salary of the top 10% earners in this industry is $35,790.
Conlusion Best Paying Jobs in Precious Metals
is precious meetals is good career path? Definitely YES! This industry is for you if you enjoy the technical aspects of making jewelry and the selling aspect of helping people feel beautiful with their clothes.
When you embark on your apprenticeship or vocational degree, it is important to study with passion. You can grow your precious metals career by improving your skills.
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