How to Become a Freight Broker in Wyoming
You must be reliable, flexible and consistent in order to build a successful career as a freight broker. You will be responsible for finding carriers who are responsible and capable of transporting loads with ease. This will require research and thorough communication, as shipping companies will depend on you to connect them with the best carriers you can find. You will also need to speak with shippers and carriers while items are being transported to their destinations, communicating expectations, updates and important specifications. Freight agents may also work in partnership with you as independent contractors who assist in the customer service functions of the business.
Requirements for Becoming a Freight Broker in Wyoming
In Wyoming, like all other U.S. states, there are no regulations in place for freight brokers. National regulations, however, enforce the requirement of a high school diploma or GED, along with a government-issued Broker Authority license to work as a professional in this industry.
While it is recommended that you undergo some type of post-secondary training before entering the field, you are not required to do so. Some programs exist for the sole purpose of training new and experienced freight brokers, but there are other options for advancement. These options include earning certification, completing an internship or apprenticeship program or finding a professional who is willing to mentor you before you decide to work independently.
Wyoming Schools for Freight Brokers
If you’re interested in learning as much as you can about the trade, a freight brokerage training program may be the perfect place for you. Consider the options below:
- Freight Broker Boot Camp is based entirely online and invites students to learn how to become freight brokers with just 30 days of study. With a payment of $98, students will receive six months of full online access to workflow diagrams, financial strategies, training articles, negotiating methods and much more.
- Brooke Training offers ree tuition to all qualifying veterans. Each student who completes the program will also receive assistance with job placement. Areas of study include both basic and advanced brokerage techniques.
- Freight Movers School offers both online and in-person courses, which take place in select states across the country. Advanced freight brokers can complete the course on improving sales, while those who are new to the trade will benefit from the course on brokerage basics.
Certifications for Becoming a Freight Broker in Wyoming
Once you have earned your high school diploma or GED, you will need to meet the requirements set 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).
According to these requirements, you must first register your company as a business. After doing so, you’ll need to obtain a U.S. Department of Transportation number. Next, you will submit this number, an application and $300 application fee to the FMCSA. Within four to six weeks, you will know if your application has been approved.
After receiving approval, national law requires you to carry a $75,000 surety bond at all times as a licensed freight broker.
Those who want to earn credentials in this industry may be interested in sitting for the Certified Transportation Brokers exam. This exam is offered exclusively through the Transportation Intermediaries Association.
Career Outlook and Salary Expectations
The freight brokerage industry in Wyoming, as part of the broader freight transportation sector, is showing 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 Wyoming earn an average salary of $54,640 per year. The top 10 percent of earners in Wyoming make more than $62,740 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. Wyoming Salaries:
| Percentile | United States Salary | Wyoming Salary |
|---|---|---|
| 10% | $32,720 | $31,850 |
| 25% | $38,400 | $45,770 |
| Median (50%) | $46,860 | $54,640 |
| 75% | $58,710 | $62,450 |
| 90% | $70,280 | $62,740 |
Salaries by Region in Wyoming:
| Location | 10% | 25% | Median (50%) | 75% | 90% |
|---|---|---|---|---|---|
| Rapid City, SD | $47,050 | $47,610 | $55,560 | $72,860 | $90,640 |
| Salt Lake City, UT | $32,870 | $38,060 | $44,030 | $50,630 | $67,450 |
Freight Broker Trends in Wyoming
In Wyoming, the employment trends for Cargo and Freight Agents (43-5011.00) indicate a significant growth pattern for the decade from 2020 to 2030. In 2020, Wyoming had 50 employees working in this occupation. This number is projected to increase to 60 employees by 2030, representing a growth rate of 20%. 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 robust job market for cargo and freight agents in Wyoming, surpassing 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) |
|---|---|---|---|---|
| Wyoming | 50 employees | 60 employees | 20% | 10 |
| United States | 95,900 employees (2022) | 105,200 employees (2032) | 10% (Much faster than average) | 11,000 |
Sources of Data:
Wyoming Data: The employment figures and projections for Wyoming 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 Wyoming
Cities with dense populations are the best places for freight brokers to work, due to their large amounts of freight distribution. In Wyoming, these cities include Cheyenne and Casper.
Employment will be available at existing brokerage companies. If you’re new to the industry, this will be a great start. Beginning your own brokerage company will be a smooth transition once you have developed your skillset and expertise within the trade. Since the job market for this career field will continue to expand, getting started today will allow you to cultivate a distinct and valuable presence within the industry, as long as you remain dedicated to achieving success as a freight broker.