The 5 Best Paying Jobs in Precious Metals

When you're growing up, most people can only think of a couple of jobs, firefighter, doctor, police officer, teacher, etc. But did you know that one of the best-paying industries is precious metals? That's right — jobs in this field can be highly lucrative and in demand.

So, what exactly are precious metals? These include gold, silver, platinum, and palladium. This industry involves mining for these metals, processing them into products, and even trading and investing in them.

If you ever dug in your backyard for treasure and found remarkable rocks as a kid, that prepared you for a job in this field. Please keep reading to learn about the best-paying jobs in precious metals and what it takes to get your hands on one of these opportunities.

Precious Stones Designer

If you have an artistic eye and love working with your hands, then consider a job as a precious stone designer and cutter. In this job, you would be responsible for cutting and polishing rough gemstones into beautiful shapes to use in jewelry or other products.

This job requires specialized training and education, but the salary can be pretty high once you have the skills. In addition, you may also have the opportunity to work with rare and valuable stones, adding even more excitement to your job. You will receive most of this training on the job, so securing an apprenticeship or an entry-level position at the company you would like to work for is essential.

The average salary for precious stones designers is about $58,000 per year, and job growth in this field is looking upward.

Metal Fabricator

Metal fabricators work with machines to create metal products and structures, often for the jewelry or aerospace industries. In this job, you may use various tools, including saws, presses, welding equipment, etc. If you want to take up this profession, you should be comfortable working with large power tools and enjoy building things.

You will need technical training to be successful in this field, and many companies provide on-the-job training or apprenticeships. You can also go to technical schools where they will teach you how to use machinery for metal fabrication. You will also likely need special certifications to use the highly specialized equipment.

The average salary for metal fabricators is around $46,000 per year for entry-level workers, but can easily grow to six figures over time. Many companies also offer bonuses and profit sharing.

Purchasing Agent

Do you have a knack for finding deals and negotiating prices? Do you also like rare metals? If this sounds like you, becoming a purchasing agent in the precious metals industry might be the perfect fit. In this job, you will find suppliers, negotiate prices, and ensure that your company has enough materials to meet their needs.

Purchasing agents often need to travel to meet their buyers, so anyone pursuing this career field should be comfortable living on the road and traveling a great deal.

This job requires strong communication skills as well as knowledge of the precious metals industry and the materials used in it. You may need a bachelor's degree in business or a related field, as well as experience in purchasing or supply chain management.

Some purchasing agents pursue master's degrees to climb the company ladder and receive promotions. The role of a purchasing agent is also a great foundation if you'd like to land senior management roles down the road.

The average salary for purchasing agents in precious metals is around $75,000 annually, and job growth is expected to be steady. Many companies give their purchasing agents insurance, retirement plans, and bonuses.

Jewelry Store Manager

Are you a people person with strong organizational skills and a passion for jewelry? Consider a job as a jewelry store manager. In this role, you will be responsible for the day-to-day operation of the store, including sales, customer service, inventory management, and employee supervision.

If you want to pursue this job, you should have excellent leadership and customer service skills and a strong understanding of jewelry and precious metals. Many jewelry store managers have experience working in the industry, either as a salesperson or in a managerial role. Some companies may require a bachelor's degree for this position, but most provide on-the-job training and certification programs.

The average salary for jewelry store managers is around $120,000 per year. Many jewelry stores give great benefits packages, including discounts on the jewelry itself.  

Mining Engineers

If you love the great outdoors and aren't afraid to get your hands dirty, a job as a mining engineer may be the perfect fit for you. As a mining engineer, you will be responsible for planning and supervising the extraction of precious metals from mines. This job requires strong technical skills and knowledge of geology and mining operations. Most of these jobs are in the field, so you will also have to spend significant time at the mine.

To become a mining engineer, you must earn a bachelor's degree in mining engineering or a related field. A bachelor's degree is a definite prerequisite for employment. Additionally, you may need to pursue a master's degree, which will come with a pay increase and open up other mining engineer opportunities.

Mining engineers have one of the best-paying jobs in precious metals, with an average salary of around $97,000 annually.  

Whether you prefer to be behind a desk or out in the field, there is a career path for everyone with a passion for these valuable materials. So, what are you waiting for? Start your journey toward one of the best-paying jobs in precious metals today!