How to Become a Freight Broker in Wisconsin
Many people may not realize the multi-step process that takes place before an item arrives at their doorstep. When cargo arrives at a shipping company, a carrier is needed to transport this cargo to its intended destination. A freight broker helps connect shipping companies with carriers who can transport these loads quickly and efficiently. Freight agents will help in this process by assisting brokers with finding the right carriers for different loads. The faster and more reliable carriers a freight broker can find, the more successful they will be in this industry.
Requirements for Becoming a Freight Broker in Wisconsin
In Wisconsin, like all other states, freight brokers are not held to statewide regulations. National law, however, requires freight brokers to earn a high school diploma or equivalent and obtain a government-issued Broker Authority license before practicing.
Post-secondary training programs for freight brokers are available, though not required by national law. To advance quickly within the trade, you’ll want to learn as much as you can. In addition to enrolling in a training program, you may also choose to enhance your skills by earning certification, finding an experienced professional to serve as your mentor and completing an internship.
Wisconsin Schools for Freight Brokers
The training programs below were designed for both new and experienced freight brokers to refine their skills.
- Freight Broker Boot Camp is based entirely online. With a payment of $98, students will receive six months of full online access to financial strategies, negotiating methods, training articles, workflow diagrams and much more. After just 30 days, students should have the necessary skills to enter the trade.
- Brooke Training offers ree tuition to veterans who qualify. All students also receive job placement assistance after completing courses. Students will learn both basic and advanced skills, and courses take place in-person as well as online.
- Freight Movers School is also based online, with some course offerings taking place in-person in select states. Both beginner and advanced courses are available.
Certifications for Becoming a Freight Broker in Wisconsin
When you have completed high school or earned your GED, you will need to follow the requirements set in place by the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) in order to obtain your Broker Authority license (also referred to as a Motor Carrier Operating Authority license). Initial requirements include registering your company as a business. Once you have done this, you will need to obtain a U.S. Department of Transportation number. Next, you will submit this number, an application and a $300 application fee to the FMCSA. You can expect your application to be processed within 4 to 6 weeks.
The FMCSA also requires that all freight brokers carry a $75,000 surety bond at all times.
Though certification is not necessary to practice, you may be interested in becoming a Certified Transportation Broker by successfully completing the exam administered through the Transportation Intermediaries Association.
Career Outlook and Salary Expectations
The freight brokerage industry in Wisconsin, 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 Wisconsin earn an average salary of $47,990 per year. The top 10 percent of earners in Wisconsin make more than $75,180 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. Wisconsin Salaries:
| Percentile | United States Salary | Wisconsin Salary |
|---|---|---|
| 10% | $32,720 | $32,240 |
| 25% | $38,400 | $39,100 |
| Median (50%) | $46,860 | $47,990 |
| 75% | $58,710 | $59,290 |
| 90% | $70,280 | $75,180 |
Salaries by Region in Wisconsin:
| Location | 10% | 25% | Median (50%) | 75% | 90% |
|---|---|---|---|---|---|
| Green Bay, WI | $31,990 | $38,380 | $47,900 | $51,680 | $67,410 |
| Madison, WI | $33,280 | $36,930 | $49,040 | $59,200 | $64,360 |
Freight Broker Trends in Wisconsin
In Wisconsin, the employment trends for Cargo and Freight Agents (43-5011.00) show a promising growth trajectory for the decade from 2020 to 2030. In 2020, there were 870 employees working in this occupation in Wisconsin. This number is projected to increase to 1,030 employees by 2030, representing a growth rate of 18%. Additionally, there are expected to be around 110 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 Wisconsin, exceeding the national average growth rate.
In comparison, the national trend for the same period shows a growth rate of 10%, which is 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) |
|---|---|---|---|---|
| Wisconsin | 870 employees | 1,030 employees | 18% | 110 |
| United States | 95,900 employees (2022) | 105,200 employees (2032) | 10% (Much faster than average) | 11,000 |
Sources of Data:
Wisconsin Data: The employment figures and projections for Wisconsin 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 Wisconsin
In Wisconsin, you can expect to earn the highest compensation in heavily populated cities like Madison and Green Bay. With their large populations, these cities are likely to see a large amount of transport each year.
Freight brokers will employ themselves by starting their own brokerage company, or they may choose to reap the benefits of working for a brokerage company that has been in operation for several years. If you want to enter this career field, it would benefit you to learn the ropes from someone who knows all about the business. This way, you can learn best practices, common tools and strategies to turn the highest profits.