How to Become a Freight Broker in Indiana
If you enjoy negotiating prices to find great deals as well as handling logistics, you may enjoy a career as a freight broker. This career will also require excellent communication skills. You will be responsible for joining shipping companies with carriers by finding carriers who are reliable, efficient and willing to get the job done for a price that supplies you with a good margin of profit. While items are being transported, you will be expected to communicate with both the shipping company and the carrier, making sure both parties are on the same page. Freight agents will often work for freight brokers as independent contractors who handle many of the day-to-day functions of the business.
Requirements for Becoming a Freight Broker in Indiana
In Indiana, there are currently no statewide regulations for freight brokers. Nationally, all freight brokers are required to earn a high school diploma or GED as well as a government-issued Broker Authority license before practicing.
If you’d like to become more advanced before starting your own business or finding employment, you may consider earning certification, completing a training program or finding an apprenticeship opportunity. Although none of these options are required by law, it is a wise decision to take the initiative if you’re interested in setting yourself apart from the competition.
Indiana Schools for Freight Brokers
Advancing within this trade may be easier if you decide to enroll in a training program for freight brokers. Consider one of the options below:
- Freight Broker Boot Camp is based online. The program enables student to learn how to become a freight broker in just 30 days. For a payment of $98, students receive six months of full online access to training articles, workflow diagrams, financial strategies, negotiating methods and much more.
- Brooke Training offers oth in-person and online courses on the basics of freight brokerage. Students will also learn advanced techniques, and qualified veterans are allowed to complete courses free of charge. Upon course completion, all students receive job placement assistance.
- Freight Movers School offers training programs which can be taken either in-person or online. One program will teach freight brokerage basics and the other focuses on improving sales. The in-person courses are currently offered at locations in Texas and Georgia.
90 Day Freight Broker is a trusted resource for Indiana entrepreneurs ready to launch their freight brokerage with clear direction and weekly support.
Certifications for Becoming a Freight Broker in Indiana
The licensing process for freight brokers is overseen by the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA). According to this administration, the first step to obtaining your Broker Authority license (also referred to as a Motor Carrier Operating Authority license) is to register your company as a business. The next step is to obtain a U.S. Department of Transportation number. Finally, you will need to submit this number, along with a completed application and $300 application fee, to the FMCSA. Within 4 to 6 weeks, if your application has been approved, you will receive your license. The FMCSA also requires that all freight brokers carry a $75,000 surety bond at all times.
You may choose to become a Certified Transportation Broker by completing the exam administered by the Transportation Intermediaries Association. If you’re new to the field and looking to build a long-term career, this certification may be especially beneficial to you.
Career Outlook and Salary Expectations
Freight broker salaries can vary greatly depending on industry experience, knowledge, and reputation, especially for those operating independently. Business and marketing knowledge is beneficial for starting an independent brokerage business.
As of the latest data, the average annual wage of a freight broker in Indiana is $42,920, with an average hourly rate higher than previously reported. The top 10 percent of freight brokers in Indiana can expect to earn $63,820 or more annually.
The number of freight brokers in Indiana is also showing positive growth. The following HTML tables provide a detailed comparison of salaries at different percentiles both nationally and in Indiana, as well as in specific regions within Indiana.
National vs. Indiana Salaries:
| Percentile | United States Salary | Indiana Salary |
|---|---|---|
| 10% | $32,720 | $35,270 |
| 25% | $38,400 | $38,270 |
| Median (50%) | $46,860 | $42,920 |
| 75% | $58,710 | $49,780 |
| 90% | $70,280 | $63,820 |
Salaries by Region in Indiana:
| Location | 10% | 25% | Median (50%) | 75% | 90% |
|---|---|---|---|---|---|
| Indianapolis-Carmel-Anderson, IN | $36,710 | $39,180 | $42,880 | $49,280 | $63,660 |
Freight Broker Trends in Indiana
The employment trends for Cargo and Freight Agents in Indiana (43-5011.00) indicate a steady growth pattern for the decade from 2020 to 2030. In 2020, Indiana had 2,490 employees working in this occupation. This number is projected to increase to 2,760 employees by 2030, representing a growth rate of 11%. Additionally, there are expected to be around 280 job openings annually over this period, which includes openings due to both growth and replacement. This trend suggests a healthy job market for cargo and freight agents in Indiana, aligning with the national average growth rate.
In comparison, the national trend for the same period shows a growth rate of 10%, which is considered much faster than average. In 2022, there were 95,900 employees in this occupation across the United States, with projections indicating an increase to 105,200 employees by 2032. Nationally, there are expected to be about 11,000 job openings annually over this period.
Employment Trends
| Location | Employment (2020) | Projected Employment (2030) | Projected Growth (2020-2030) | Projected Annual Job Openings (2020-2030) |
|---|---|---|---|---|
| Indiana | 2,490 employees | 2,760 employees | 11% | 280 |
| United States | 95,900 employees (2022) | 105,200 employees (2032) | 10% (Much faster than average) | 11,000 |
Sources of Data:
Indiana Data: The employment figures and projections for Indiana are sourced from Projections Central, specifically their 2020-2030 long-term projections. Projections Central is known for providing detailed and state-specific employment projections, offering valuable insights into various occupational trends.
United States Data: The national employment figures and projections are obtained from the Bureau of Labor Statistics (BLS), specifically their 2022-2032 employment projections.
Working as a Freight Broker in Indiana
Freight brokers in Indiana will earn the highest compensation in densely populated cities like Indianapolis and Fort Wayne.
While some freight brokers may prefer to work for existing brokerages, others may choose to go into business for themselves. If you are meticulous, well-organized and ambitious, starting your own brokerage may be the right decision for you.