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How Much Does a Customs Broker Make?
If you are interested in a career that involves international trade, logistics and customs regulations, you might want to consider becoming a customs broker. A customs broker is a licensed professional who helps importers and exporters comply with the laws and procedures of different countries. Customs brokers prepare and submit the necessary documents, calculate and pay the duties and taxes, and communicate with the customs authorities on behalf of their clients. They also advise their clients on the best ways to ship their goods, avoid delays and reduce costs.
But how much salary does a customs broker make? According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for customs brokers and other cargo and freight agents was $46,150 in May 2020. However, this figure can vary depending on several factors, such as the level of experience, education, certification, location and employer. For example, the BLS reports that the top 10% of customs brokers earned more than $76,730 in 2020, while the lowest 10% earned less than $28,950. Additionally, some customs brokers may earn commissions or bonuses based on their performance and client satisfaction.
To become a customs broker in the U.S., you need to meet the following requirements:
- Be a U.S. citizen at least 21 years old
- Have a good moral character
- Pass a written examination administered by the U.S. Customs and Border Protection (CBP)
- Submit an application and pay a fee to the CBP
- Undergo a background investigation and fingerprinting
The written examination covers topics such as customs laws and regulations, tariff classification, valuation, entry procedures, trade agreements and other related subjects. The exam is offered twice a year, in April and October, and has a pass rate of about 15%. To prepare for the exam, you can study the CBP’s study guides and reference materials, take online courses or enroll in a customs broker training program.
Becoming a customs broker can be a rewarding career choice for those who enjoy working with diverse clients and cultures, solving problems and staying updated on the latest trade developments. Customs brokers can work for themselves as independent contractors or join a customs brokerage firm or a freight forwarding company. They can also specialize in certain types of goods or industries, such as agriculture, automotive, aerospace or fashion. As global trade continues to grow and evolve, the demand for skilled and knowledgeable customs brokers is likely to increase as well.