Get Freight Broker Training in New Jersey
Freight brokers are an integral part of the economy, as they are the agents who manage shipments of goods from one location to another. The work of a freight broker includes managing permits, calculating costs, arranging clearances and scheduling all aspects of transport. This is a growing career field with great potential for business ownership. In fact, many freight brokers run a highly successful at-home-business.
Due to New Jersey’s high degree of industrialism, a freight brokerage in the state has the potential to become a very lucrative business. In 2018, New Jersey exported $35.4 billion worth of goods, the thirteenth highest exporter in the country. In addition, exports of goods in 2016 (the latest data available), supported an estimated 132,000 jobs within the state.
Freight Broker Licensing in New Jersey
Becoming a freight broker will require a minimum of a high school diploma or equivalent. Once completed, subsequent training in the field will be necessary. Although freight broker training can be completed on the job, a reputable training program will allow for in-depth knowledge of all aspects of the business.
Licensing for freight brokers is not overseen by the state but is instead monitored by the Federal Motor Carrier Safety Administration(FMCSA). All brokerage agencies are required to apply for a USDOT number and a Motor Carrier (MC) number. Application requires a $300 fee, a business name, appropriate insurance and a known structure of agents within the company. Applicants should expect to wait four to six weeks to receive their numbers. A freight broker is unable to practice until they have received their assigned numbers from the FMCSA.
Training for Freight Brokers in New Jersey
When searching for a training program, ensure it covers all the information needed to begin working as a freight agent. A good curriculum should teach business management, including marketing and bookkeeping, as well as training specific to freight agents. This should include lessons on what freight agents do and how the business works, laws and regulations for shipping and how to remain in compliance, how to invoice clients, how to make contracts and what types of insurance to buy and how much is needed in order to operate.
One such program, Ed2go, offers training in partnership with various educational institutions throughout the state. The program is written by freight brokerage specialists and promises to prepare students to work as freight agents upon completion. After graduation, students can participate in networking events with potential employers and mentors through a weekly online event. Below is a full listing of the locations in New Jersey offering the ed2go training:
- Atlantic Cape Community College
- Cumberland County College
- Camden County College
- Mercer County Community College
- Berks County Community College
- Princeton Adult School
- Rowen College at Gloucester County
Just insert your zip code to find freight broker/agent training near you.
Those looking for an additional level of professionalism can seek credentialing through the Transportation Intermediaries Association (TIA). Their Certified Transportation Broker (CTB) designation can be earned by passing an examination and will help freight brokers stand out to potential clients. Freight agents are also eligible to join TIA for a membership fee, granting them access to resources and networking, which will be helpful for running a business. Members also receive a lower examination fee of $375, discounted from the current non-member price of $525.
Salaries for Freight Brokers in New Jersey
Freight agents in New Jersey made an average annual wage of $56,470 in 2018, according to the Bureau of Labor Statistics (BLS), which is above the national average. In fact, the highest earning ten percent of freight brokers in New Jersey made $85,150 in the same year, meaning there is great potential for growth for business owners. In even better news, these figures reflect only salaries, not commissions, which have the potential to boost these numbers significantly. All in all, the long-term outlook in New Jersey for those in this career field is very good.
What should New Jersey Freight Brokers Expect?
According to the BLS, New Jersey has the highest wages in the country for freight brokers. Additionally, the New York/Newark/Jersey City has the highest employment for the profession in the nation. In general, freight brokers will find more business in metropolitan areas, especially those with a large number of manufacturing companies; however, this business has the potential to be successful anywhere where there are goods in need of transport.