Looking for the best-paying jobs in precious metals? We’ve got you covered.
In this article, we’ll look at some potential career paths in precious metal that will guarantee you high pay. We’ve used our internal data alongside other resources to produce this article. So, let’s get started.
When you think of the precious metals industry, it’s hard not to think of money. The clue is in the name; it just screams money! However, what we found throughout our research is that, in fact, some of the best-paying jobs in precious metals don’t require mining or digging for gold at all!
Confused? Let me explain.
The entire precious market industry is valued at around $275.40 billion in 2021 and is expected to grow to $403.08 billion in 2028. Much like any industry, businesses operate to maximize their profits. This concerns the entire process, from mining all the way up until shareholders get paid. However, that entails many different job roles and functions. This means that the money increases the higher up the chain it goes.
So unlike other resources online, our list doesn’t include job functions such as Goldsmiths, Jewelry Designers, or even Quality Control Specialist. That’s because if we were to include all of them, it would be a very long list. Now, of course, there may be many other roles that haven’t been included simply because, again, the precious metals industry is enormous!
So without further ado, here’s our top ten list of best-paying jobs in precious metals.
$143,177 Per Year
Salary Range: $64,477 to $237,700
Now at number one, our highest-paying job in the precious metals industry is an Attorney. As the precious metals industry begins in the mines and works its way to the final consumer, there are many different laws and regulations that must be followed.
So whether it’s laws about mining, employment law, or consumer law, an attorney is always required. This means there’s high demand for attorneys. So if you’re already qualified or thinking about studying law, you can also work in the precious metals industry.
Sales and Marketing Director
$147,046 Per Year
Salary Range: $79,790 to $241,148
In second place, we have a Sales and Marketing Director. Think about it, mining companies can mine precious metals, but in the end, there must be a consumer to ensure that the business can continue to function. As a result, the Sales and Marketing teams are integral to making the Precious Metals industry continue to thrive. Now we know there are many different job roles and functions that also fall under sales and marketing, and that’s why there are probably other job roles that should belong on this list. However, the Director would play the most important in ensuring it all functions correctly.
$122,750 Per Year
Salary Range: $51,115 to $307,244
Next up, as our third highest-paying job in the precious metals industry, we have a Treasury Analyst. A Treasury Analyst’s overall function is to monitor a company’s money. This includes all the funds from income, loans, debts, assets, and investments. As it’s quite an essential role for any company, it needs to be featured on this list. Especially when you consider the higher boundaries for a typical Treasure Analysts’ salary. Similarly, other accounting and financial positions may also be included in this list of high-paying jobs, and that would be the same for any industry.
$102,479 Per Year
Salary Range: $49,011 to $165,728
Our fourth entry on this list is a Geologist. Now this job role is definitely most applicable to the field of precious metals. Geologists have a deep understanding of the earth’s materials, so they can play an essential role in locating precious stones and metals. They create studies to map out where the metals are most likely to be discovered and then plan the mines and extraction strategies to access the precious metals. Most precious metals mining companies are likely to want the most experienced geologists in order to be successful. As a result, it can offer job safety from well-developed companies.
$100,532 Per Year
Salary Range: $59,883 to $157,537
Our fifth entry on the list is a Metallurgist. Similar to Geologists, Metallurgists also play an essential role. While a Geologist can help find and extract precious metals, the job of producing metals from raw materials falls to the Metallurgist. They will take the raw materials such as iron, ore, gold, and silver and then work to make sure that the final product can be obtained. They will ensure the entire process, from the crushing of the ore to the purification of the metal, is conducted in a way that will reap the most rewards. As a result, it can be challenging yet gratifying.
$99,476 Per Year
Salary Range: $59,109 to $151,051
Next up, we have an Environmental Engineer on our list of best-paying jobs in precious metals. Now the role of engineers is multi-faceted, and they are usually well-educated and have an abundance of knowledge that can be used for businesses. In the case of precious metals, an Environmental Engineer is required for their expertise in several ways. They ensure that the mining is conducted according to regulations to avoid contamination or health and safety issues. As it is quite an important role with significant responsibilities and consequences, the salary given is also relatively high.
Materials Engineering Technologist
$91,478 Per Year
Salary Range: $36,543 to $265,325
Our next role is another engineering job role. This time it’s a Materials Engineering Technologist, another example of the best-paying jobs in precious metals. Due to their knowledge and understanding of metals, Materials Engineering Technologists are incredibly important. They are in a position to help with all aspects of finding precious metals, from mining to extraction. They work alongside other stakeholders to ensure the entire process is completed as efficiently as possible. Many new research and studies conducted in the engineering field mean that the techniques used can be very different and need skilled engineers to oversee the process. Keep in mind that the average for this role is only $90,000, whereas, on the higher end, these engineers can make more than some attorneys, which could make this an extremely lucrative position.
Although we have only mentioned two types of engineers on this list, many other types of specializations are utilized in the precious metals industry.
$84,275 Per Year
Salary Range: $38,518 to $131,564
Next up, we have Jewelry Advisors as the next best-paying job in precious metals. They may also be known as a precious metal consultant. This job role falls near the end of the precious metals business cycle. Jewelry Advisors will speak to clients and help them decide on precious metal jewelry pieces to purchase or invest in. They take on a precious metals consultant role in consulting with buyers. They will be quite knowledgeable and know market trends through their own experience and other sources. They may have clients who contact them regularly, enabling them to continue making sales and earning more.
Similar job roles include Precious Metals Broker or a Precious Metals Advisor. They may also work in the Jewelry industry or may sell other precious metals like gold, silver, or even copper.
Mine Safety and Health Inspector Salary
$79,744 Per Year
Salary Range: $45,018 to $121,363
Our next entry on the best-paying jobs in the precious metals industry is a Mine Safety and Health Inspector. Much like the name suggests, this job role requires keeping mines safe for workers and ensuring all regulations are followed. As a result, the job role comes with high levels of responsibility and standards to follow. There will usually be high levels of training and certification required to be able to obtain this job function.
Jewelry Sales Representative
$71,816 Per Year
Salary Range: $30,585 to $123,781
Our final job role on this list of best-paying jobs in precious metals is a Jewelry Sales Representative. This job function will most usually be fulfilled in a jewelry store or department store across the country. It requires customer service as the main job-specific skill. Usually, the Jewelry Sales Representative will engage in selling jewelry to customers as they visit their store. Some of these jobs may be paid commissions or bonuses as an added incentive to earn more through sales. As a result, it will require tenacity and drive to ensure customers make purchases. However, to get this role, usually, a high school diploma is all that is required.
Now, let’s get on to some questions you may have about working in the precious metals industry.
How to find a job in Precious Metals?
You should first identify your skills and experience to identify what job roles would be most suitable for you. Once you’ve done this, begin browsing job boards and LinkedIn for potential jobs. If there is nothing suitable currently, make sure you set email updates and alerts to be able to be notified as soon as something arises. Additionally, you can consider using your personal network to see if anyone you know is aware of any potential vacancies. If you’re looking at some of the high-paying roles like an Attorney or Treasury Analyst, be aware that you’ll need a qualification to be considered.
Should I work in the precious metals industry?
As mentioned earlier, the precious metals sector is extremely valuable, with billions of the global economy flowing through each Year. As a result, you’ll definitely be able to find a job and have job security amongst other precious metal workers. What you choose to work as will depend on your skills and experience and how well they are suitable for job roles. It is definitely an interesting industry and can be financially rewarding.
Research would be required as some precious metals jobs pay better than others and would be affected by demand. For example, a jewelry and coin specialist would need to be in a location where the precious metals market is active to earn more. Similarly, jewelry designers who work for a company in demand would also likely earn more.
There you have it, the top ten list of best-paying jobs in precious metals. Hopefully, you’ve found that precious metals workers come in all forms. So, you don’t need to focus on becoming a precious metals broker; there are plenty of other opportunities. So, if your dream is to be a precious metals worker, hopefully, you can find a role that suits you.
As mentioned previously, many jobs involved in the precious metals industry have been excluded from this list mainly because the annual average salary wasn’t higher than $40-50,000. If you’re interested in learning more about the salary levels for other job roles, browse the rest of our site to get access to that information.