Freight brokerage combines entrepreneurial independence and earning potential in the growing trucking and transportation industry.
Education & Training
Previous experience in the freight shipping industry can give you a considerable advantage, otherwise you should enroll in a training program.
Benefits of the Program
- Experienced instructors will teach you everything you need to know about the industry
- How to establish yourself or your new business
- Participate in virtual exchange with established brokers that are looking to share business opportunities
What Do You Learn?
The 100 hour course curriculum consists of the following topics:
- Overview of the industry
- Getting started
- Goals for your business
- Business necessities such as accounting, insurance and software
- Types of freight and their markets
- Marketing your business
- Quoting and negotiating rates
- Industry laws
- Creating contracts
- Shipper and carrier packet set up
- Maintaining relationships
How Long is the Course?
It can be finished in 3 to 6 months. The advantage to online learning is that you can set your own pace of study.
How Much Does it Cost?
Total cost is $1,900. If you need help financing, below are some monthly options available.
New York Freight Broker Requirements
Freight Broker Licensing
To qualify for freight broker jobs in New York, candidates must obtain an official freight broker license from the Federal Motor Carrier Safety Administration (FMCSA).
Obtaining a Federal UDOT Number
After completing your freight broker training program, apply for a federal UDOT number from the Department of Transportation by submitting a Unified Registration Systems form and paying the $300 application fee.
Surety Bond or Trust Fund Requirements
Like brokers in other parts of the country, freight brokers in NY must purchase a surety bond or trust fund agreement worth at least $75,000.
Trust fund agreements and surety bonds ensure that customers receive payment, even if the broker fails to meet their contractual obligations. Having this insurance in place provides peace of mind for potential clients and can help brokers get more contracts.
Certified Transportation Broker
You’ll also need to take additional classes and pass an official certification exam to become a Certified Transportation Broker (CTB).
Salary Range
Below are some average base salary numbers for the state, from popular job platforms:
- ZipRecruiter: $73,795
- Indeed: $53,852
- Salary.com: $65,635
Job Description
A freight broker is responsible for communicating with both shipping and carrier companies to ensure that product shipments and packages arrive at their destinations on time.
When shippers need to transport their goods locally, across state lines, or internationally, they enlist the help of a broker to find carriers that can make the delivery.
Job Responsibilities
Freight brokers must keep thorough, accurate records of each shipment they handle. Having a detailed account of each step in the shipping and delivery process can help clear up any disputes or breaches of contract that occur between the shipper and carrier.
Self-Employed Freight Brokers
While some shipping companies hire in-house brokers to find carrier contracts, most people pursuing this career path choose to go into business for themselves. New freight brokers typically manage small shipments to local destinations when they’re first starting out.
As they gain more experience and build relationships with more shippers and carriers, they can take on larger, more lucrative contracts.
Career Outlook
Experts at the federal Bureau of Labor Statistics predict an almost nine-percent increase in the demand for freight broker jobs between 2021 and 2031. More freight broker jobs in New York are likely to become available during this time frame, so qualified candidates may have an easy time finding work.