How to Become a Freight Broker in New Mexico
Being a freight broker in New Mexico gives you an excellent opportunity to engage with people and provide a necessary service to your customers. While freight agents communicate between brokers and clients, freight brokers are licensed professionals who work to get the best arrangement possible between shippers and customers by dealing with the shippers directly. This requires confidence and knowledge: as a freight broker, you are responsible for ensuring that your customers’ goods can arrive quickly and safely at their destinations. Your customers will rely on you to make the right decisions.
Requirements for Becoming a Freight Broker in New Mexico
Becoming a freight broker requires a high school diploma or an equivalent level of education. Beyond this, no specific training is needed; however, completing a training program helps your clients know that you can be trusted with their shipments. These programs, offered online and through various schools or universities, can vary in length from a single day to a full year.
You may also choose to take the more in-depth Certified Transportation Broker course, with exams administered by the Transportation Intermediaries Association. CTB courses are entirely optional but are a great asset to freight brokers.
Freight Broker Classes and ducational Programs
In-person freight brokerage courses are difficult to find in New Mexico, but online courses are readily available. Options include:
- LearnFreight. Currently costing $299.00, the full broker course offers 10 detailed training modules and 4.5 hours of narrated content. The basic course, currently $199.00, gives students access to the first five modules of the full course. LearnFreight also gives students the option of monthly payment plans. At this time, these are $60.00 per month for the full training and $40.00 for the basic training.
- Ed2Go. Ed2Go offers online courses from Texas-based Brooke Transportation School. The benefit of these courses is that they are self-paced. Students complete 180 hours of home study over six months, with the support of instructors experienced in the trade. This course currently costs $1,895.00.
- Freight Movers School. This basic, 60-day course currently costs $900.00. It differs from other online programs in that it uses recorded webinars for part of the training, with students completing the remainder of the training through more traditional home study methods.
Licensing for Freight Brokers in New Mexico
There is no specific licensing required by New Mexico for freight brokers; however, brokers across the country are required to obtain both cargo and liability insurance, hold a $75,000 surety bond and be licensed with the US Department of Transportation, Federal Motor Carrier Safety Administration. These licenses must be renewed yearly, but there is no continuing education required in order to do this.
Career Outlook and Salary xpectations
The freight brokerage industry in New Mexico, as part of the broader freight transportation sector, is showing positive trends in terms of salaries and job growth. According to the latest data, the salary figures for cargo and freight agents have been updated from previous years.
As of 2022, cargo and freight agents in the United States earn an average salary of $46,860 per year. In New Mexico, these professionals earn a slightly lower average salary of $46,640 annually. The top 10 percent of earners in New Mexico make more than $67,580 per year.
National vs. New Mexico Salaries:
| Percentile | United States Salary | New Mexico Salary |
|---|---|---|
| 10% | $32,720 | $23,920 |
| 25% | $38,400 | $31,590 |
| Median (50%) | $46,860 | $46,640 |
| 75% | $58,710 | $64,120 |
| 90% | $70,280 | $67,580 |
Salaries by Region in New Mexico:
| Location | 10% | 25% | Median (50%) | 75% | 90% |
|---|---|---|---|---|---|
| Albuquerque, NM | $23,920 | $42,840 | $49,320 | $67,580 | $67,580 |
Freight Broker Trends in New Mexico
The employment trends for Cargo and Freight Agents in New Mexico (43-5011.00) show a steady growth pattern for the decade from 2020 to 2030. In 2020, New Mexico had 130 employees working in this occupation. This number is projected to increase to 140 employees by 2030, representing a growth rate of 8%. Additionally, there are expected to be around 10 job openings annually over this period, which includes openings due to both growth and replacement. This trend suggests a stable job market for cargo and freight agents in New Mexico, with growth slightly below the national average.
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) |
|---|---|---|---|---|
| New Mexico | 130 employees | 140 employees | 8% | 10 |
| United States | 95,900 employees (2022) | 105,200 employees (2032) | 10% (Much faster than average) | 11,000 |
Sources of Data:
New Mexico Data: The employment figures and projections for New Mexico 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 New Mexico
New Mexico is an open market for ntrepreneurs looking to start their own brokerage. Newly-graduated freight brokers will be looking for well-rated employers who can provide advancement opportunities, so starting early and getting a good foothold in the market will stand you in good stead.
Those who prefer to find a position with a well-established company can find brokerages across the state. Many of these brokerages are located in Albuquerque, but there are many more spread out in cities like Las Cruces, Roswell, Clovis and Hobbs. With a good attitude and a strong work ethic, freight brokerage can be a solid career in New Mexico.