Are you thinking about the career path to choose? Are you willing to pursue an unconventional career, yet a rewarding one?
If yes, then you are at the right place, because I got just the right one for you. How about the precious metals industry?
Quite uncommon! Oh Yes! Interestingly, jobs in precious metals, though uncommon and not widely known, is in high demand with better benefits than conventional jobs such as those in the medical and engineering fields.
When it comes to career development, choosing a career in the precious metal industry is an amazing career path that allows you to work independently by starting a business of your own or working for established companies that pay pretty well
If you think the precious metal industry is a place you would love to belong, read on while I share with you everything you should know about the precious metals industry as a career path.
What is the precious metals industry?
The precious metals industry deals with precious and luxurious metals such as gold, diamond, silver, and platinum, as well as other priceless gemstones that are worn as jewelry.
The astronomical demand for these precious metals in investment and store value is responsible for the high demand for careers in the precious metals industry.
Is precious metal a good career path?
Are you in doubt or is your mind battling with some burning questions such as;
- Will a career in precious metals be rewarding?
- Can I work on my own in this career path?
- Will I get a job easily?
- Is precious metals a good career path?’
If yes, then the simple answer is “yes” to all the questions above. Frankly speaking, you can rest assured to you that you have nothing to lose if you chose a career path in the precious metals industry.
Interestingly, there are lots of rewarding career opportunities worthy to be called a profession in the precious metals industry. Just as you would already know, the demand for precious metals never goes out of style. As the price rises, the more luxurious it becomes, and for this reason, your career in the precious metals industry will not go out of need either.
Regardless of which precious metal you want to concentrate on; platinum, gold, diamond, or any other, a career in each of these is an option worth considering.
How many jobs are available in the precious metals industry?
The precious metals industry offers numerous job opportunities. Some of the most popular jobs in precious metals including but are not limited to the following;
- Precious Metal Worker
- Goldsmith
- Precious Metal Broker
- Jewelry and Coin Specialist
- Metals Production Specialist
- Analyst
- Quality Control Specialist
- Precious Metals Advisor
- Engravers
What is the average salary in the precious metals industry?
Payscale.com recently announced that the average annual salary of 71,000USD is paid to workers in the precious metals industry.
They went further to state that the income of a person in the precious metals industry is largely dependent on the precious metals you are handling and also your job title as well as several working hours. So you can expect to earn more than this median annual salary.
Getting enticed! If yes, it is absolutely fine. However, you must know that there are requirements to be employable and to succeed in the precious metals industry.
Requirements for a successful career in the precious metals industry
A career in precious metals, though in high demand, is difficult to find, secure and maintain because of the requirements needed by the industry.
However, if you possess these skills or you are determined to develop these skills to work in the precious metal industry, be rest assured that precious metals will be a good career path for you.
These skills are majorly required depending on your job title. Some of these skills that cut across all job titles in the precious metals industry include;
Honesty
Honesty is a vital skill that you must possess in precious metals as you will be working with valuable gemstones and high-value metals. Handling such will necessitates a high level of trust, so it is critical to be ethical in this field to have a successful career path.
Excellent Vision
You will be required to be a person with excellent vision that no prior minor or major sight issues. This is because, in precious metals, you will be working on minor details that require excellent vision to remain focused on specific areas for extended periods.
Passion for work
The precious metals industry is certainly “precious” and appropriate for you but requires passion from you to excel. Working in the precious metals industry is not like the conventional work that you know, it can be sometimes challenging and endangering. Therefore, your passion and determination to work there are all you can rely on for strength.
Steady Hands
Some paths in this industry may require you to work on very small parts, particularly jewelry. A steady hand will be required for any detailed work that may be required.
Focus
Focus; the ability to be able to divert your intense concentration to a task and stay on that task till completion is very important to work in precious metals.
Best Paying Jobs in the Precious Metals Industry
#1: Precious Metal Worker
Precious metal workers work with precious metals. They can be found in a variety of industries, including mining, jewelry, blacksmithing, antique restoration, and furniture manufacturing. The metalworkers of the precious metals industry are $52,000 per year.
#2. Precious Metal Broker
Precious metals brokers are second-hand dealers who purchase new or used precious metals for resale.
Their responsibilities include estimating the value of an item with regard to the market value or the retail price of such products like precious stones and metals.
On an average annual salary scale, a precious metal broker earns above $52,000 per year.
#3: Engravers
Engravers are art professionals that work together with jewelry designers to etch designs, images, and texts onto various materials. Engravers can earn more than $46,000 on an average annual salary scale.
#4: Jewelry Designers
They are mainly involved in the sourcing, selection, and inspection of materials for sketching jewelry designs. Continual adequate training makes the perfect jewelry designer. The average annual salary of a jewelry designer is more than $55,000 per year.
Top 5 companies in the precious metals industry
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Newmont Mining
Headquarters: Greenwood Village, Colorado, United States of America (U.S.A)
Average annual revenue: $11.49 billion
Number of Employees: 14,300
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Freeport Mc Moran
Headquarters: Phoenix, Arizona, United States of America (U.S.A)
Average annual revenue: $14.3 billion
Number of Employees: 12,800
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Alcoa World Aluminum
Headquarters: Pittsburgh, Pennsylvania, United States of America (U.S.A)
Average annual revenue: $12.2 billion
Number of Employees: 10,000
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Agnico-Eagle Mines Limited
Headquarters: Tucson, Arizona, United States of America (U.S.A)
Average annual revenue: $5 billion
Number of Employees: 8,400
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Hecla Mining Company
Headquarters: Coeur d’Alene, Idaho, United States of America (U.S.A)
Average annual revenue: $807 million
Number of Employees: 5,000
Final Thoughts – Is Precious Metals A Good Career Path
If you are looking for a career without a typical 9-5 job, then one in precious metals is your plug. I want to believe by now you should have a good sense of what the precious metals industry is like, how to get started in it, what types of jobs are available, how much money you can expect to make in it, and so on.
By now, you must have found answers to all of your questions and made up your mind. So, without any hesitation, follow your passion and “shine bright like a diamond” or “glitter bright like gold,” because the precious metals industry is certainly “precious” and appropriate for you.
Therefore, if are still considering a career in the precious metal industry, and possibly asking if it is a good career path, yes, it is a viable option to make.
