How to Become a Freight Broker in Puerto Rico
Freight brokers serve as middlemen between shipping companies and carriers, making compatible connections between both parties. They will be present throughout the entire shipping process, speaking with carriers about delivery details and expectations, and providing shippers with updates as well as other necessary information. Freight agents will also work in tandem with brokers, helping to find new, reliable and experienced carriers, building customer databases and establishing relationships with shipping companies who can benefit from your services.
Requirements for Becoming a Freight Broker in Puerto Rico
National regulations are in place for this career field, and they require that all freight brokers earn a high school diploma or equivalent. Additionally, all freight brokers must obtain a government-issued Broker Authority license before practicing.
While there are no requirements for freight brokers to complete a training program or internship, these are options that will undoubtedly help you to excel within this career field. You may also choose to earn certification or find a professional freight broker who is willing to serve as your mentor. Taking advantage of these opportunities will exemplify your dedication to the job and ambition to succeed in this industry.
Puerto Rico Schools for Freight Brokers
If you want to advance quickly as a freight broker, you may benefit greatly from completing a training program. The programs below have been designed to equip you with the knowledge and tools to help you excel as a freight broker. Each of these programs can also be taken online from anywhere in the world.
- Freight Broker Boot Camp offers students six months of full online access to financial strategies, negotiating methods, workflow diagrams, training articles and much more, for a price of $98. Within as little as 30 days, you can acquire the skills necessary to become a freight broker, according to the creators of this program.
- Brooke Training offers ree tuition to veterans who qualify. All students also receive job placement assistance upon course completion. In-person and online courses are available for both new and advanced freight brokers.
- Freight Movers School also offers courses either in-person, in states like Texas and Georgia, or online. Areas of study include improving sales as well as brokerage basics.
Certifications for Becoming a Freight Broker in Puerto Rico
The licensing process for freight brokers is overseen and enforced by the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA). According to their regulations, all freight brokers must register their company as a business before applying for a Broker Authority license (also referred to as a Motor Carrier Operating Authority license). The next requirement is to obtain a U.S. Department of Transportation number. After doing so, you will submit this number, along with an application and $300 application fee, to the FMCSA. You will receive approval within four to six weeks of submitting all the required information. Licensed freight brokers must also carry a $75,000 surety bond at all times.
You an become a Certified Transportation Broker by sitting for the exam administered by the Transportation Intermediaries Association. This certification is completely voluntary and may serve as a beneficial addition to your list of credentials as a freight broker.
Career Outlook and Salary Expectations
According to Bureau of Labor Statistics (BLS) data from 2017, freight brokers in Puerto Rico earned an average income of $9.59 per hour. More advanced and experienced freight brokers can earn higher compensation. It is important to note, however, that since Puerto Rico has been under austerity restrictions, wages for all professions have decreased. The minimum wage in Puerto Rico is currently $7.25 per hour.
BLS figures also indicate that during 2016, there were 750 freight brokers employed in Puerto Rico. By 2026, this number is expected to rise to 850, adding 100 workers to the field during this 10-year period.
Working as a Freight Broker in Puerto Rico
In Puerto Rico, similarly to other states, freight brokers will earn the highest compensation in the most densely populated areas, due to the fact that these places will have the largest amounts of freight distribution. San Juan is the most ideal place to work for freight brokers in Puerto Rico.
Working at an existing freight brokerage is a smart choice for new freight brokers. If you want to build your own brokerage company, it would be wise to exercise each opportunity to learn all the tricks of the trade. The more knowledgeable you are about the job, the easier it will be to work independently. If you are convinced that this is the career path for you, consider completing training or finding a mentor to get started as a freight broker today.