Is precious metals a good career path?
Precious metals such as gold, silver, and other metals. These precious metals are regarded as good investments but is precious metals a good career path?
Precious metals are well known for secure investment and value, and so is the career path in this industry. The precious metal industry is expanding as more people and investment firms are buying gold to avoid capital and other risks.
Due to this, the industry has been adding more job opportunities, and more people are developing interests in building their career paths in precious metals. In this industry, you can earn a median salary ranging from a minimum of $47,000 to more than $100,000! And work wherever you want!
If you want to see yourself in this career path but are confused about is precious metals a good career path? Or is precious metals career worth it? This article contains all the information you need to know before jumping into the precious metals industry.
So let’s get started!
What Are Precious Metal?
Before going into detail, first, let’s know what precious metals are and why they’re called precious metals. Metals that we get from under the Earth and have high value are known as precious metals.
Many types of metals can be found nowadays, and the most common and prominent ones are:
Whether it is investment or jewelry, these three types of precious metal have been a favorite choice of people from ancient times to till now. However, there are other precious metals such as palladium, Rhodium, and Ruthenium.
Now, why are these metals called precious metals? The fundamental cause is their value; these metals hold a more robust value than other objects or metals available on Earth.
If you look at the data on the gold price over the previous 100 years, you’ll see that the price has been following the uptrends and still increasing.
What Are The Positions You Can Get In The Precious Metal Industry?
People think the only position available in the precious metals industry is the “jeweler,” but this industry is much bigger than the other industries. You can work from mining work settings to a calm luxury office environment! The choice is up to you.
Let’s see some promising positions in the precious metals industry:
- Jewelry Sales Professional
This position is most cited and famous among people when they try to join the precious metal industry; the work of a jewelry sales is pretty simple; all they do is help customers choose the perfect jewelry or evaluate the value of any jewelry that customers want to sell, and taking orders to make jewelry piece based on the customers’ design.
- Jewelry Designer
If you’re passionate about jewelry and love to draw them, you can join any precious metal industry as a jewelry designer; this position is lucrative because the jewelry designers make a good salary and can make their designs easily.
A goldsmith needs to do various tasks. Their work includes polishing, cutting, and making new items. Goldsmiths also repair broken precious metals.
- Precious Metal Broker
Precious metal brokers can work independently, in jewelry stores, or with an organization; they’re experts in buying and selling precious metals.
- Investing Guide
People seek guidance and advice from professionals and experts before investing or stockpiling precious metals because a wrong decision or investment could take away all of their investment instantly.
Precious metal advisors or guides provide investment strategy and direction to have a safe and secure investment.
- Jewelry specialist
As the name suggests, jewelry specialists are individuals who can identify a wide variety of precious metals, their worth, and their authenticity. The demand of jewelry specialists is increasing because of fraudulent activities.
Some other positions are jewelry store manager, precious metal worker, engraver, and Bench jeweler
How To Become A Precious Metal Worker?
Looking at these positions, you might think it is impossible to find a job in the precious metal industry, but that’s actually not the case. You can get a job in any position in the precious metals industry with a high school or a college degree.
No further or higher education is necessary unless you want higher sales or managerial positions.
The qualifications to get hired in the precious metals industry are:
- High school Diploma, Equivalent Or College Degree
The mandatory requirement is to complete the basic education, which can be a high school diploma, general education development (GED), or a college degree.
Certificates play a vital role; having a certificate will demonstrate your mastery over precious metals, two best certification you can obtain are,
- University Degree
Precious metal workers don’t need to be graduates, but when working in sales, business development, or other financial sectors of the industry, you will require a university degree.
How Much Do The Precious Metal Workers Make?
The income of every single worker in the precious metal company is good. Everyone from engravers and metal workers to jewelry specialists earns a median salary that’s enough to have a standard living.
How much do the precious metal workers make? The average yearly salary in this industry is $47,000, people with six months to 1 year of experience earn this much, but those who don’t have any working experience make $33,000 to $40,000 annually.
Jewelry designers, advisors, and specialists earn the highest in the precious metal industry. A jewelry designer makes $55,000 to $80,000 a year on average, and those who work in famous brands earn more.
The median salary of precious metal specialists ranges between $53,000 to $77,000. And the precious metal advisors make $48,000 to $73,000 a year.
Reasons To Get Into This Career Path
There are multiple reasons for entering the precious metal profession. Career growth and opportunities are among the most important. As people spend more on precious metals for both investment and fashion, the precious metal industry is booming in the United States.
Because of this, you can get into this field easily and get to high positions because when an industry grows, it grows with its people. Another reason is the salary; think about some career path that pays $70,000 and doesn’t need a university degree! Only a handful, and you’ll find the precious metal is among them.