How to Become a Freight Broker in Rhode Island – Get Your License
If you are interested in a career as a freight broker, you likely want to know more about what the job entails and how to become one. Don’t worry. We’ve got you covered.
Freight brokers serve as intermediaries, connecting companies in need of transportation for their products with shippers who can fulfill that need. The job carries much responsibility, as freight brokers need extensive knowledge of intrastate and interstate shipping regulations. In addition, freight brokers will need to build a vast network of contacts to ensure that they can manage every aspect of the shipment from loading to unloading.
Freight brokers often work under high-stress conditions and need to think on their feet and react appropriately to changing conditions. The job entails working with clients to estimate shipping costs, negotiating and managing contracts, and preparing invoices and shipping documents for legal purposes.
Freight Broker Requirements in Rhode Island
In order to become a freight broker, you will need a high school diploma or equivalent. In addition, freight brokers cannot work without a Motor Carrier (MC) number and a USDOT number, both of which can be applied for through the Federal Motor Carrier Safety Administration (FMCSA). Applying comes with a fee of $300, and applications take between four and six weeks to process.
To apply for these numbers, you will need to fill out an application through the FMCSA, have proof of insurance to cover up to $75,000 worth of damage, and have named designated process agents. Designated process agents are people who can be served with legal papers in the case of legal action against a motor carrier, and brokerage firms need to have at least one person named in each state in which they do business. Once you have decided on a designated process agent, you will need to fill out form BOC-3 here to complete your application for your MC and USDOT numbers.
Rhode Island Freight Broker Training
Although on-the-job training is typical in this career, you may not want to work for another freight broker while learning the trade, especially if you plan to set up a competitive business in the future. Fortunately, training programs are available for those who wish to train under other circumstances. For those living in Rhode Island, the following locations may be suitable:
- New England Institute of Technology in East Greenwich, RI
- Bristol Community College in Fall River, MA
- Westerly Education Center in Westerly, RI
- Eastern Connecticut State University in Willimantic, CT
Growth Projections and Wage Expectations
There are an estimated 10,100 job openings for freight brokers every year, and that number is growing. In fact, according toProjections Central, the career is expected to see significant long-term growth, with an additional 7,200 jobs between 2018 and 2028. This number represents a 7.5 percent increase in opportunities over the 10-year period.
Salaries for this career are above average in Rhode Island, with theBureau of Labor Statistics(BLS) reporting an average annual wage of $57,580 for freight brokers in the state in 2020. In fact, Rhode Island is listed by the BLS website as the highest-earning state for freight brokers in the United States. Annual wages in the state fell in a range between $32,980 and $81,220 for the highest and lowest earners, respectively.
Career Opportunities for Rhode Island Freight Brokers
In Rhode Island, freight brokers work in numerous businesses, including CVS Health, Seko Logistics, Univar Solutions, and Adecco, USA. However, many freight brokers prefer to own and operate their own businesses, where they may have an opportunity for more earnings. Whatever direction you choose to take your career, becoming a freight broker in Rhode Island can give your future the promise it deserves.