How to Become a Freight Broker in Virginia
It’s a good time to become a freight broker, as the career is expected to grow over the next 10 years. Freight brokers are independent contractors who serve as the intermediary between motor carriers and those who need freight services. They charge a fee for their services matching carriers with clients.
Where can I find freight broker training near me?
Freight brokers are different from freight broker agents who work under their supervision and licensure authority. While freight brokers are required to hold a license, freight agents are not. Agents have their own customers and make a commission with no liabilities, while freight brokers must hold surety bonds and a license.
Requirements for Becoming a Freight Broker in Virginia
Freight brokers must have a high school diploma or GED, carry liability insurance and hold a $75,000 surety bond in order to obtain licensure through the U.S. Department of Transportation (DOT). A freight broker business can then be granted a Broker Authority license.
Freight Broker Classes and Educational Programs in Virginia
No certification is required to become a freight broker in Virginia, but training is highly recommended for a successful career. Classes for freight brokerage are available online and in-person, ranging from one-day courses to year-long study. Local trucking schools and community colleges may also offer freight broker training.
- Brooke Training. This popular freight broker school helps students prepare for a career in freight brokering by teaching them about the freight industry, helping them understand business setup and teaching them how licensure and bonds work.
- Freight Broker Planet. Based in Florida, this online freight broker school claims 32 years of experience in the field. They offer numerous courses, which students can schedule at their own convenience. Freight Broker Planet is 100 percent veteran owned.
Licensing for Becoming a Freight Broker in Virginia
Licensing is required through both the U.S. Department of Transportation (DOT) Federal Motor Carrier Safety Administration (FMCSA) and the Virginia Department of Motor Vehicles (DMV). For freight brokerage involving transportation of passengers within Virginia, brokers must obtain an Intrastate Operating Authority license through the DMV.
Virginia license holders are required to hold at least $25,000 in surety bonds. Proof of insurance is required at both the federal and state levels.
Career Outlook and Salary Expectations for Fright Brokers in Virginia
The freight brokerage industry in Virginia, as part of the broader freight transportation sector, is showing positive trends in terms of salaries. 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 Virginia earn an average salary of $49,720 per year. The top 10 percent of earners in Virginia make more than $76,590 per year. In comparison, cargo and freight agents in the United States earn an average salary of $46,860 per year, with the top 10 percent earning more than $70,280 annually.
National vs. Virginia Salaries:
| Percentile | United States Salary | Virginia Salary |
|---|---|---|
| 10% | $32,720 | $36,630 |
| 25% | $38,400 | $44,580 |
| Median (50%) | $46,860 | $49,720 |
| 75% | $58,710 | $62,840 |
| 90% | $70,280 | $76,590 |
Salaries by Region in Virginia:
| Location | 10% | 25% | Median (50%) | 75% | 90% |
|---|---|---|---|---|---|
| Richmond, VA | $37,890 | $40,080 | $49,610 | $59,760 | $73,940 |
| Roanoke, VA | $32,990 | $41,920 | $48,420 | $63,120 | $75,060 |
| Virginia Beach-Norfolk-Newport News, VA-NC | $37,070 | $47,810 | $48,780 | $62,750 | $76,040 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $36,600 | $42,450 | $58,550 | $71,030 | $82,430 |
Freight Broker Trends in Virginia
The employment trends for Cargo and Freight Agents in Virginia (43-5011.00) show a significant growth pattern for the decade from 2020 to 2030. In 2020, Virginia had 2,850 employees working in this occupation. This number is projected to increase to 3,340 employees by 2030, representing a growth rate of 17%. Additionally, there are expected to be around 350 job openings annually over this period, which includes openings due to both growth and replacement. This trend suggests a strong job market for cargo and freight agents in Virginia, surpassing 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) |
|---|---|---|---|---|
| Virginia | 2,850 employees | 3,340 employees | 17% | 350 |
| United States | 95,900 employees (2022) | 105,200 employees (2032) | 10% (Much faster than average) | 11,000 |
Sources of Data:
Virginia Data: The employment figures and projections for Virginia 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 Virginia
With the constant and rising need for workers in the Virginia freight industry, it’s never been a better time to explore this exciting career. Freight brokers have freedom in their career choices. Most can work wherever they want, whether at home or in a corporate office setting. Some freight brokers run their own businesses and can set their own schedules. Others work for larger, established companies.
Because of Virginia’s location on the East Coast, airways and seaways offer a constant flow of goods to be shipped from the area. Constant freight activity keeps Virginia full of opportunity for freight brokers to find clients. Most freight exported from Virginia runs by rail, and the top cities for freight business in Virginia are Virginia Beach, Norfolk and Richmond. These cities would make the best place for a Virginia freight broker to build a career in the state.