Precious metals are rare and naturally occurring metallic chemical elements of high economic value. Their price is reserved only for those with deep pockets. Precious metal workers shape, press, and fabricate some of these metals, including gold, silver, diamonds, and gems. What are some of the best-paying jobs in precious metals?
Working in the precious metals industry is not a dangerous job. Yet, it can be strenuous as workers usually stand or bend for long periods of time. For some job positions, you need only a high school diploma. But there are also jobs that require higher education.
The most expensive metals in the world are silver, osmium, platinum, gold, diamonds, palladium, iridium, and many more.
With that in mind, let’s take a look at some of the highest-paid jobs in precious metals.
Precious Metal Worker
Average salary: $26,050
Depending on experience and education level, a precious metal worker can also earn up to $77,330 in annual salary. Their job is to shape, press, and fabricate gold, silver, diamonds, gems, and many more precious metals. The result is they get precious metal products and jewelry. It is not a dangerous job, but it can be strenuous. In this job position, you will be asked to stand or bend for long periods of time.
Average salary: $41,900
Jewelers are the ones that make beautiful products with precious metals. Their products can cost a fortune. People pay a lot of money for a diamond ring, diamond necklace, golden necklace, and similar products.
The best part is for this job you need only a high school diploma for an entry-level job. There is, however, long-term on-the-job training.
Average salary: $96,623
Whenever there is something to trade, someone will trade it. A metal trader sometimes called a commodity trader is someone who buys and sells physical commodities such as metals and oil.
Traders aim to profit off of anticipated trends and arbitrage opportunities. Traders are among the best-paid finance professionals.
The more complex the financial product is, the more you get paid. Traders also receive bonuses which can sometimes be higher than their annual salary.
Average salary: $108,540
A chemical engineer supports the business and operations through technical analysis, operations scheduling, and collaborating with multiple teams on the site. This is a high education job position. And you also need quite a lot of experience in the field before you can earn a high salary as a chemical engineer.
But working in the metallurgy industry is always a good career path. There are plenty of opportunities for engineers. Chemical engineers need great mining and metallurgist skills. They usually report to the superintendent, the person who oversees all operations on site.
Average salary: $112,967
Here is another one of the best-paying jobs in precious metals that requires a bachelor’s degree. Sometimes, companies look for a master’s degree as well.
In any case, there is a huge demand for metallurgical engineers. They can work in every field that produces, buys, sells refines, or manufacturers metallurgic products.
Students often start their careers during their studies. They join various research programs where they can learn while they study.
Average salary: $29,028
Every industry has a need for highly educated professionals and workers that do the dirty work. In the metallurgic industry, the warehouse material handler is someone who finds products on shelves, wraps or packages them, and then places them on delivery trucks.
Sometimes, a material handler can take products off of trucks and put them on shelves. They are responsible for customer orders. The job of a material handler is that any order is fulfilled on time.
For this job position, you need only a high school diploma or equivalent General Educational Development certificate.
Average salary: $36,652
The role of a process operator is to supervise all production operations in a manufacturing plant. Or in any similar setting. Their duties include producing reports, producing presentations, keeping and updating data, performing audits, and managing work schedules.
Process operators control machinery that makes chemical products. In this case, precious metals. They can also work in sites that make chemical products like cleaning fluids, cosmetics, and even paints.
Average salary: $34,905
Salespeople usually work for a commission. Sometimes that can be as little as 1%, but it can go up to 3% depending on the items you sell. It all adds up. Selling jewelry can easily net you commissions of up to $3,000.
If you for such a career path, you need to learn everything about the products you sell. But do not worry. Many stores offer product knowledge training for their staff.
Average salary: $92,040
Let’s finish off our list of highest paying jobs in precious metals with one of the most challenging, a geologist. The job of a geologist is to examine the land and find places where companies can drill and mine. Some of the subjects you have to understand well include math, science, and geography.
Geology is not a difficult field of study, but it is a science and you need to put time, effort, and dedication if you want to be successful.
The good news is that geologists can work in different industries, including the oil and gas industry, mining industry, environmental consulting, and many more.
And despite the downturn in the mineral resources sector, the long-term job outlook for a career in geology is positive.