15 Best Paying Jobs in Precious Metals | 2023

You are here because you want to know the best-paying jobs in precious metals in 2023, right?

So, would you pursue an unconventional career out of the ordinary and yet rewarding? While everyone else wants to be a doctor, engineer, nurse, banker, and so on, why not choose an industry that is uncommon and always in high demand because it deals with “precious” and “luxurious” items?

Precious metals are one industry not widely known for career development. Still, they are an excellent career path for starting a business independently or working for large-scale industries and receiving high pay.

This article is an in-depth look at the best-paying jobs in precious metals.

What is a Precious Metal Worker?

As the name implies, a precious metal worker works with precious metals such as gold, silver, and platinum, as well as objects made from those metals.

Precious metal workers can be found in various industries, such as jewelry, antique restoration, furniture manufacturing, mining, and blacksmithing. They also carry out a wide range of tasks within each profession.

What to Expect When Working in Precious Metals?

Precious metal workers have a wide range of potential responsibilities. If you are interested in such jobs, your responsibilities may include the following:

• Those in the jewelry industry may craft metal jewelry, resize tight rings and bracelets, and repair broken pieces.
• Make jewelry out of precious metals and stones.
• Diamonds and other gems are examined and graded.
• Using polishing wheels and chemical baths, clean and polish jewelry.
• Jewelry can be repaired by replacing broken clasps, changing ring sizes, or resetting stones.
• Joints and rough spots should be smoothed, and smoothed areas should be polished.
• Calculate the labor and material costs for new pieces and repairs.
• Carved wax or computer-aided design creates new pieces that are cast in metal.
• From metal to hold gems in jewelry pieces.
• Pieces are soldered together, and stones are inserted.
• A precious metal worker may also work as a consultant for insurance companies, reducing insurance fraud by examining and verifying the material composition of items.
• They may specialize in engraving items made of precious metals, such as wristwatches, photo frames, and wedding rings.

Museums and antique dealers typically hire a precious metal worker to clean and restore delicate items such as cutlery, jewelry, and sterling silver tea sets.

Precious metal workers also create new items, such as various liturgical items used in various Christian traditions, including the Eastern Orthodox and Roman Catholic churches.

Also, precious metal workers must be concerned about their safety as well. Often, a precious metalworker will be in charge of thwarting burglaries through inventive security measures.

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What is the Workplace of a Precious Metal Worker like?

Precious metal workers may work in a variety of settings. Those who make molten metal castings may work in large foundries, but many artisanal metal workers have small, compact home furnaces. They may melt and mold precious metals in their storage shed or backyard.

However, most precious metals are manipulated in a warehouse or shop setting for security reasons.

Individuals in the jewelry trade typically work in a jewelry store or stand, which can be found in shopping centers and strip malls. However, very fine jewelry makers may conduct business from large, impressive boutiques, particularly in major cities such as New York, London, and Milan.

It should be noted, however, that even in these scenarios, metal workers may be required to work in cramped, dimly lit back rooms.

What Education is Required to Work in Precious Metals?

Although most jewelers, precious stone workers, and precious stone and metal workers have a high school diploma, many trade schools offer courses for workers who want to further their education.

Introduction to gems and metals, resizing, repair, and computer-aided design are examples of course topics (CAD).

Programs range from three months to one year, and many teach students how to design, cast, set, and polish jewelry and gems, as well as how to use and care for jeweler’s tools and equipment. Because they require less on-the-job training, graduates of these programs may be more appealing to employers.

The Gemological Institute of America educates many gemologists. Applicants to trade programs are typically required to have a high school diploma or equivalent.

Many jewelers learn and hone their craft on the job. The length of training required to become proficient varies according to the difficulty of the specialty, but it usually takes at least a year. Casting, stone setting, model making, and engraving are common areas of study.

Precious Metals Job Outlook

From 2016 to 2026, the percentage change in employment expected is -3 percentage points (Decline). Since 2004, the overall job outlook for Precious Metal Worker careers has been negative.

During that time, job openings for this occupation fell by 29.25 percent nationwide, with an average decline of 1.83 percent yearly. Demand for Precious Metal Workers is expected to increase, with 12,950 new jobs expected to be filled by 2029.

Over the next few years, this equates to an annual increase of 7.72 percent.

15 Best-Paying Jobs in Precious Metals

#1. Specialty Account Manager

An account manager is a person in charge of overseeing a company’s relationship with its customers. They also determine the customers’ needs and how the company will meet them.

Account managers typically manage existing customer accounts in order to develop long-term client relationships. They have one of the highest-paying jobs in precious metals.

#2. Precious Metals Derivatives Trader

Metals trading typically involves gold, silver, and, occasionally, platinum. The outlook for the global economy and major currencies is inextricably linked to metals trading.

Precious metals have always been used to exchange and store wealth, with gold being the most commonly used metal. There are many ways to invest in and trade gold and other precious metals today. Those who trade precious metals have one of the highest-paying jobs in the field.

#3. Precious Metals Clerk

The Precious Metals Clerk monitors, processes, and verifies inbound and outbound shipments in the facility, including physically sorting customer shipments, verifying inventory detail by comparing actual inventory to paperwork and ensuring precise control and record-keeping.

#4. Senior Accountant

A Senior Accountant is a mid-level professional in charge of the accounting department at a company. They take responsibility for every aspect of an organization’s report, from cost-productivity and margins to expenditures.

Senior accountants are to verify, allocate, post, and reconcile accounts payable and receivable, as well as create error-free accounting reports and present their findings. They have one of the highest-paying jobs in precious metals.

#5. Precious Metal Laboratory Technician

A precious metal lab tech does hands-on work in a precious metal laboratory. They are to receive, process, and analyze samples, test new products or experimental processes, and design and conduct lab tests under standard procedures.

#6. Accounting and Finance Vice President

A Vice President of Accounting and Finance in precious metals oversees accounting operations for the entire organization, including the maintenance and implementation of accounting policies and procedures; reviews and manages the accounting department budget to maximize cost and efficiency; develops internal processes and policies and controls to ensure the integrity of financial data, and manages asset monetization.

#7. Precious Metals Sales Broker

A precious metals broker is a person who assists in the execution of a transaction between a buyer and a seller. A broker in precious metals primarily works for a commission or other fees for his efforts in the transaction’s execution.

Sales brokers take a commission as a percentage of the total transaction. One of the best-paying jobs in precious metals is that of a precious metal sales broker.

#8. Audio/Video Editing for Creative Marketing

Creative marketing is the act of providing something that will provide your audience with an inspiring experience is referred to as. Creative marketing is a synthesis of various elements.

It entails establishing and understanding your brand, knowing what your audience wants and needs, and connecting with your audience’s emotions. They have hard skills and, as such, are one of the best-paying jobs in precious metals.

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#9. Senior Sales Account Executive

A sales professional who supervises the account executive team is a senior account executive, also known as a sales manager. They usually manage the entire sales process, from attracting new customers to negotiating a contract.

Senior account executives inspire, motivate, and collaborate with their sales team to generate new leads and develop strategies for engaging potential customers. Likewise, they have one of the best-paying jobs in precious metals.

#10. Melt Operator

The Melt Operator is to set up, maintain, and operate the Induction furnace. This position is also in charge of receiving client electronic waste, dismantling electronic waste into waste streams, identifying and testing components/items for reuse, and producing end products and analyses.

#11. Inside Sales Support Representative/Customer Service

A Sales Support Specialist helps clients through each step of the sales process, resolving any concerns or questions while efficient processing, tracking, and shipping orders.

They also identify and create lists of potential clients, as well as maintain sales databases.

A Sales Support Specialist’s additional responsibilities include compiling daily lists of leads and delegating them to sales team associates, as well as maintaining an accessible and organized filing system for sales and administrative professionals.

#12. Precious Metals Sales – Business Development Consultant

A precious metals business development broker summarizes the ideas, initiatives, and activities that contribute to a company’s success.

This includes increasing revenues, expanding the business, increasing profitability through strategic partnerships, and making strategic business decisions.

#13. Analyst – Precious Metals Operations

A precious metals operations analyst analyzes and documents an organization’s or business domain’s processes, systems, or business. The analyst may also evaluate a company’s integration with technology or how it generates revenue.

The research of precious metals operations analysts identifies new investment opportunities. Their research may reveal that certain funds are losing some of their value. However, they are very important and have one of the best-paying jobs in precious metals.

#14. Metallurgical Engineer

Metallurgical engineers design, develop and operate the industrial processes that convert these raw materials into the useful materials as well as manufactured products required for modern society to function.

They can use machining and welding equipment as needed and may be exposed to extreme temperatures and heat treatments. Also, they have one of the best-paying jobs in precious metals.

#15. Mineralogist

A mineralogist is an expert in the study of minerals. Because minerals are defined as naturally occurring solid substances, they can be studied for a wide range of ideas and processes.

This includes everything from the soil’s surface to the earth’s core (and maybe a few extraterrestrial materials). They are also part of the best-paying jobs in precious metals because they are to dig and find metals.

Frequently Asked Questions

Conclusion

When making a career decision, you should always choose an industry where you can establish yourself for a long time and make plans, and the precious metals industry is exactly that.

It is not only the safest industry to start your career in, but it is also rewarding and can provide you with a lucrative career.

The precious metals industry is always in high demand because it deals with precious and luxurious metals such as Platinum, Diamond, Gold, and Silver, as well as other valuable gemstones that everyone wants to wear in their jewelry.

References

• owlguru.com– Precious Metal Workers
• careerexplorer.com– Precious metal worker
• careerplanner.com– Precious metal worker 
• recruiter.com– Precious metal workers Job Outlook 

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