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Thursday, February 12, 2009

shipping salaries / shipbroker salaries

This is my first crack at a blog and many things have only now just occured to me.

It is entirely possible that no-one will ever see this blog....thats a lonely thought.

Also it occurs to me that I probably need to blog something remotely interesting in order to grab 'the viewers' attention.

Shipping is a fairly dry subject but below the surface is an entire subculture in desperate need of exposure. Think big money, think old money, think travel, think flashy suits and fast cars, think corruption, think secret gentlemans buisness, think glamour - think Shipping.

Interesting point one - A Shipbroker / Freight trader / Bulk shipping boffin is one of the highest paid professionals in the world. And the best part is that in most cases you dont need any qualifications. So whats the going rate?


Shipbroker Salaries
==============
Junior less than 3 years experience - USD 30-60k
Mid level 3-7 years experience USD 70-120k
Senior exec USD 150-300k
C level USD 300k plus

Not bad hey!

But the question is How does one become a 'Bulk Shipping Executive?' Thats why I wrote 'Inside Shipbroking!' - check it out when you get the chance.

An update for shipbroker salaries http://virtualshipbroker.blogspot.com/2010/05/shipbroking-and-chartering-salaries-and.html

Yours
The Virtual Shipbroker
at

50 comments:

  1. AnonymousMay 12, 2009 at 8:27 PM

    Hello,

    I would love to learn, how I can get my foot in the door. My brother referred me to this blog, and want to make a career change.

    Alex

    ReplyDelete
  2. Vinod Singapore+ India +65 8430 5180August 3, 2009 at 2:39 AM

    Hello

    Is there any way i can become a Trainee Shipbroker based in singapore I am currently working here.I am ready to pay consultancy even.once i have the job in my hand.Thanks Vinod

    ReplyDelete
  3. AnonymousAugust 28, 2009 at 1:10 PM

    Hello,

    I've recently graduated from university in the UK. And i would greatly appreciate a chance to correspond via email, and gain a better insight into the world of shipping. My email address is jamlines@aol.com. I would really appreciate some advice.

    Kind Regards,

    James

    ReplyDelete
  4. The Virtual ShipbrokerAugust 28, 2009 at 5:45 PM

    James

    You can send me an email anytime at virtualshipbroker@yahoo.com

    ReplyDelete
  5. AnonymousSeptember 23, 2009 at 8:52 AM

    Well, being a shipbroker myself, I would say that the average salary ranges from £5.00 per hour top anything upto £12.50, enough to get a nice suit and tie

    ReplyDelete
  6. The Virtual ShipbrokerSeptember 23, 2009 at 2:41 PM

    Gee - I think your employer is not paying you enough anon!

    ReplyDelete
  7. AnonymousOctober 12, 2009 at 5:20 PM

    Hi,am solomon by name a law gradute and at the moment a posgraduate student of oil and gas management in the uk.i had strong passion for shipping industry,how can i come into the industry?can i maybe start with part-time job as a student then gradually progress from there?my email address is mcsolomonjustice@yahoo.com.
    Thanks.
    Solomon(London)

    ReplyDelete
  8. The Virtual ShipbrokerOctober 12, 2009 at 5:25 PM

    Hello Solomon

    Good Questions and ones that are asked to me everyday by email. The answers are long and varied so I cannot reply to each person. Check out my book 'Inside Shipbroking' for all the answers.

    You have an excellent foundation and now you need to take that next step. Starting your search as a student is an excellent idea!

    Good luck

    Kind regards
    VS

    ReplyDelete
  9. AnonymousNovember 17, 2009 at 2:35 PM

    Hi,

    Great blog, so glad I found it. I am a Royal Naval (RN) Officer, wanting a career change and want greater and quicker rewards than I am able to achieve in the RN. Shipbroking may well be what I am looking for. I have a question?: What is the normal career progression for a Shipbroker? I ask because I want to be fairly sure that a vocation has the opportunity to allow me to earn £100k or more within 5 years. Is this realistic?

    Many thanks
    Jim

    ReplyDelete
  10. The Virtual ShipbrokerNovember 17, 2009 at 2:39 PM

    Jim - 100,000 pounds hey! So you want to skip right into the top 0.05 percent of wage earners on the planet within 5 years. Nice to have high goals.

    Well here is the good news - if there ever was industry that you could so this it is probably bulk shipping. Probably 5-10 percent of protagonists earn this much and more.

    Good Luck - Love the ambition!

    VS

    ReplyDelete
  11. AnonymousNovember 17, 2009 at 5:37 PM

    Thanks for maintaining this wonderful blog. I am getting ready to apply for a Trainee ship broker position after gaining a Masters in Shipping from UK.Shall keep you all posted.Cheers

    ReplyDelete
  12. The Virtual ShipbrokerNovember 18, 2009 at 3:58 AM

    Wishing you the best of luck anon!

    ReplyDelete
  13. DERYANovember 23, 2009 at 1:41 PM

    Hello,

    l have a degree in International Relations from Tr.and have an 11-month experience in export as and sales and export supervisor in Tr.
    Plus ,l have been doing a postgraduate course in shipping management in London City College in the UK.it was a l year postgraduate programme.finished in july.l have got a resit exam on 10th December ,then finally l can get my diploma.But as part of my visa ,l have to work for the same employer for 3 years.so l can't get a job in shipping unfortunately.but in 3 years time l can.what do you suggest me to do withing this long time ? maybe a part time masters in London again? maybe just a training without getting paid in London ( if l can get a chance from any companies in London) or maybe l might try to pass ICS exam by studying at home ?
    would ne so glad if you could give me any idea as lm stuck!!
    thank you very much in advance
    Derya

    ReplyDelete
  14. The Virtual ShipbrokerNovember 23, 2009 at 3:22 PM

    Derya - send me a private email and I will try and answer some of your questions.

    ReplyDelete
  15. AnonymousDecember 30, 2009 at 2:16 AM

    dear vs,

    can u pls advise me yr pvt email id so that i can talk u there about ship brokering, as a fresher how can one enter in this feild , if u can suggest me some good com name in delhi or ncr , thanks in advacne

    rgds

    ReplyDelete
  16. The Virtual ShipbrokerDecember 30, 2009 at 4:55 PM

    hi

    my email is virtualshipbroker@yahoo.com

    ReplyDelete
  17. jstnJanuary 2, 2010 at 9:14 PM

    Hi:

    Thanks for maintaining this great resource. I am a Brit currently residing in NYC and have been considering attempting to break into the industry, would it be OK for me to email you directly with some specific questions?

    Regards, jstn

    ReplyDelete
  18. The Virtual ShipbrokerJanuary 2, 2010 at 11:56 PM

    You can email me at virtualshipbroker@yahoo.com

    cheers

    ReplyDelete
  19. UnknownJanuary 18, 2010 at 8:30 PM

    Hi, Nice blog you have here
    Seems to me that you are passionate to give something to others.
    I'm in a shipping company too, but instead of chartering, my company just satisfied operates their own vessel. maybe since only few have enough knowledge bout ship charter/brokering.
    Hope i can learn something from your blog.

    G'day
    Angga

    ReplyDelete
  20. The Virtual ShipbrokerJanuary 18, 2010 at 8:39 PM

    Hello Angga

    Thanks your kind words

    I maintain this blog because I suffer from adhd, insomnia, compulsive didactive disorder and any number of other neurotic ailments common to ship chartering people.

    Maybe theres a little passion thrown in the mix aswell.

    Thanks for stopping by

    Cheers
    VS

    ReplyDelete
  21. jebuskJanuary 21, 2010 at 8:37 AM

    There's no such thing at disorders. It's called Passion!


    Regards,
    Jebus.

    ReplyDelete
  22. AnonymousJune 18, 2010 at 3:36 PM

    Hey..

    I've 4years experience in dry bulk and break bulk broking(from year 1999 to 2004). I live in Vancouver, BC and want to join an shipbroking firm and get backto business. Any possibility???
    Pls adv.
    TPS
    e-mail: capttpsingh@gmail.com

    ReplyDelete
  23. AnonymousJune 28, 2010 at 2:25 PM

    some people rose up to master with 10+2. now to become ship broker, i think you require only 10th pass.

    ReplyDelete
  24. Canet CherAugust 31, 2010 at 12:57 AM

    Hey im from singapore. Im very interested in going into the line of ship brokering but i dun have experience. Have send out a couples of resumes out but till now there isn't any outcome. Any good advices on this? Appreciate it. Thanks. My email is canetcher@gmail.com

    ReplyDelete
  25. The Virtual ShipbrokerAugust 31, 2010 at 10:11 PM

    He Canet. I have plenty of good advice and its all in 'inside shipbroking'.

    The other thing you could do is make a donation and I can check your resume and cover letter.

    thanks for stopping by

    vs

    ReplyDelete
  26. BenOctober 3, 2010 at 3:08 PM

    Hi VS,

    I am a 2nd Year economics student in a london university. Will you give me some tips on
    1) how best to enter the industry
    2) salary for inexperienced graduate
    3) what are they looking for in a shipbroker?
    4) the main differences and similiarities between normal electronic broking and shipbroking?
    5) How transferable are the skills gained from shipbroking?

    my email: benwoo680@gmail.com

    ReplyDelete
  27. The Virtual ShipbrokerOctober 3, 2010 at 3:16 PM

    Hello Ben

    Thanks for the post - Wondeing if you have read 'Inside Shipbroking". I am asked these questions on a weekly basis and instead of writing them and explaining concepts over and over again I decided to write a book.

    Check it out when you get some time

    Rgds
    VS

    ReplyDelete
    Replies
    1. BenJanuary 27, 2013 at 3:02 AM

      Hi VS,

      It has been over 2 years and I have been a frequent reader of your website.
      I finally completed University and got down to buying the 'Inside shipbroking' book. It is an excellent read albeit short. My enthusiasm led me to finish it under 2 hours.

      Having read your book, I have found the answers to 4/5 of the questions.
      I am quite clueless about Qn 4: the main differences and similiarities between normal electronic broking and shipbroking?

      Given the need for a human element in shipbroking, how could a shipbroker job be done by eletronic broking? Could you shed some light please?

      ben

      Delete
    2. The Virtual ShipbrokerJanuary 28, 2013 at 1:15 AM

      Hi Ben - the reason you found the book short is because as you said you couldnt put it down!. There is no such thing as 'normal electronic broking' and 'shipbroking'. Shipbroking involves real people and real contacts.

      Can you imagine the day when all houses are sold on the net without agents? I cant either - same applies for shipbroking...

      Delete
  28. AnonymousNovember 20, 2010 at 8:08 AM

    my son is 25 and has brokered about 5 successful deals in tankers. His boss has told him to tell them what he thinks his salary increase should be.
    What would be a reasonable amount to ask for?

    ReplyDelete
  29. The Virtual ShipbrokerNovember 20, 2010 at 2:26 PM

    Interesting method the firm is using.

    Hard for me to answer - why?

    1. I have no idea what his base salary is
    2. You say 5 deals but in what time frame?
    3. Were they big deals or small deals
    4. What is the employment market like in his area

    The last one is important because once he starts doing deals he may become hot property with other competing broker firms.

    The firm is being a bit cheacky asking him for what he thinks he deserves. If you son says too much they just say "sorry too much", and if you son lowballs himself then the firm is very happy.

    2 ways to approach.

    1. Ask your son to back to the firm and say "I want what you deam would be fair" - and then wait for what they say - and then HE is the one who can tell them if he is happy or not.

    2. Ask for the upper end of what he thinks he deserves. And then make them say no and then declare their hand. So if you son thinks he deserves another 20k more he should just say so.

    Good luck

    VS

    ReplyDelete
  30. AnonymousApril 1, 2011 at 9:19 AM

    Hi,

    I HAVE RECENTLY BEEN OFFERED A TRAINEE/JUNIOR SHIPBROKER POSITION IN SINGAPORE. I AM FROM LONDON AND WAS WONDERING IF THIS IS A GOOD OPPORTUNITY OVER SAY WORKING IN LONDON?

    THANKS

    ReplyDelete
  31. AnonymousAugust 31, 2011 at 12:19 AM

    how do you bye the book

    ReplyDelete
  32. The Virtual ShipbrokerAugust 31, 2011 at 12:26 AM

    Singapore and London are both great places and both offer significoant opportunities in shipbroking.

    and to the next person. you can buy the book by going to the books page of the blog. Simply follow the prompts.

    ReplyDelete
  33. BenitoDecember 2, 2011 at 8:47 PM

    Hello VS:

    I am an American doctorate of Law student (at a respected US University) currently doing a specialization in international law for 1 year in London. I am interested in entering the shipping industry, most likely as a broker, upon graduation next year. I would like to be in London or maybe the US.

    I have 2 years experience as a bond market analyst at an investment bank in London, a post-graduate diploma in international business, and a bachelors degree in finance from a US University. I speak Portuguese and English fluently.

    In light of my past job salary and the probable salary I would get at a law firm upon graduating I am looking to make at least 80K USD within my first year of joining the industry. I'm also curious as to how much bonus one can expect starting out.

    I've heard that being a qualified lawyer and having financial experience allows one to start at a higher than normal salary. Do you think that $80 is a reasonable expectation for a starting salary considering my background? Could you please tell me what the bonus structure and average amounts are like?

    Thanks,

    Benito

    ReplyDelete
  34. The Virtual ShipbrokerDecember 2, 2011 at 9:09 PM

    Hello benito

    I think you will find that all that experience will not make any difference to your salary starting out. Expect USD 25-30k as a base and then bonu's for performance. The problem many highly qualified people have is that degrees dont necessarily translate to performace as a shipbroker. I have never heard of any trainee / junior starting on high wages...

    cheers
    vs

    ReplyDelete
  35. AnonymousJanuary 6, 2012 at 2:23 PM

    Dear VS,
    I have 12+ years experience in the industry and
    mounts of qualifications such as MBA, Law Degree
    etc. which as you pointed out all mean almost nothing. Problem is that I took a break from shipping for a few years and went off to do other things which didnt work out and so now I want back in. Have a few old contacts but have also lost touch with the market. Any advice?

    ReplyDelete
  36. The Virtual ShipbrokerJanuary 6, 2012 at 2:38 PM

    Howdy

    My advice? keep trying!.

    speak to old friends, register with the major shipping placement agencies, get your resume and cv up to scratch and then go fo it!

    ReplyDelete
  37. AnonymousApril 12, 2012 at 4:34 PM

    this money that are mentioned before are after tax?? because if someone earns 40,000 then monthly he earns arouns 2700...

    ReplyDelete
  38. AnonymousApril 21, 2012 at 12:27 PM

    the amounts you say above is after tax?? for example for 30k per year this includes also that you have to pay the tax or is the net profit?

    ReplyDelete
  39. The Virtual ShipbrokerMay 2, 2012 at 5:51 PM

    Before tax

    ReplyDelete
  40. AnonymousJuly 26, 2012 at 2:32 PM

    Dear VS,
    I have sailed for about 8 years ( as a chief officer on gas carriers on 4 ships). I cleared my Master's exam last year and have almost attained my membership at the ICS. I am currently planning to take a Msc. course but I am confused between two universities. I have offers from "Cass Business School"(City university London) for their Msc. in Shipping, Trade and Finance course and from MEL (Erasmus Universitly, Netherlands) for Msc. in Economics and Logistics. Please guide me as to which course should I persue to ensure a good job in the shipbroking market without any practical experience.

    ReplyDelete
  41. The Virtual ShipbrokerAugust 2, 2012 at 12:15 AM

    Hello

    Either course is great...you cannot lose!

    ReplyDelete
  42. AnonymousAugust 3, 2012 at 2:44 PM

    Thank you so much for your valuable advice.

    ReplyDelete
  43. AnonymousFebruary 8, 2013 at 6:03 AM

    hi Mr Virtual shipbroker
    im a 22yr old young very smart lady, thts currently doin in service training and after graduating id like to study further and do a postgrad in maritime economics,i live in south africa please adivse if thts wise

    ReplyDelete
  44. AnonymousFebruary 8, 2013 at 10:48 AM

    i finished my nautical science course but dont want to sail..so i want to do chartering so going to give my exam in ICS..evethough i am not going to sail can i make big money in chartering or ship brokering??
    pls advice

    ReplyDelete
  45. JoshMay 18, 2013 at 11:13 AM

    Hi There,

    I bought your book previously and found it amazing. After two years of trying I finally have managed to enter the industry and am starting on Monday. I know that there will be alot of hard work initially but I hope it is for the best in the long run!

    Just wanted to give encouragement to people looking as it will happen if you want it enough!

    Great book, highly advisable purchase.

    Thanks

    Josh

    ReplyDelete
  46. The Virtual ShipbrokerOctober 16, 2013 at 1:41 AM

    You rock Josh!

    ReplyDelete
  47. AnonymousJune 13, 2014 at 6:46 AM

    per month or per year?

    ReplyDelete
  48. AnonymousMay 19, 2015 at 3:56 PM

    Hello,

    So I got into the SUNY Maritime Graduate Program and will be attending next fall. This programs issues a joint certificate with the Association of Shipbrokers and Agents in international ship chartering. Can you tell me anything about the importance of this certificate? Maybe what I could expect as a starting salary?

    Thanks

    ReplyDelete