best-paying jobs in precious metals

15 Best-Paying Jobs In Precious Metals

Elena Hudgens
By Elena Hudgens 16 Min Read

Are you passionate about precious metals and want a well-paid job? Then, this is the industry for you. Many well-paid jobs are available in the precious metals industry. You must examine the best-paying jobs in precious metals and options in the job market.

The benefits of building a long-term career in this profitable field are numerous. Precious metals are in high demand in current markets, which makes the precious metals industry successful. Gold, platinum, and silver are just a few precious metals in high demand in the United States and worldwide.

Despite all this, the question remains: What are the best-paying jobs in precious metals? This post will provide the information you need to choose the profession that best suits your skills. Learn more about precious metals and their applications by reading on.

What are Precious Metals?

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Precious metals are chemical elements that are rare and finite, as well as being challenging to extract from nature. They are often costly, so maintaining an above-average stock of these materials is considered a sign of high class and wealth.

Besides gold, platinum, and silver, there are several other precious metals, such as iridium, ruthenium, rhodium, palladium, rhenium, and osmium. Why are they so valuable? Because they’re rare metallic elements found in nature.

Well, precious metals are valued for their rarity, beauty, financial worth, historical significance as a financial safety net, and economy-wide significance. Being a part of the precious metals sector is a good choice if you want to build a successful career with long-term wealth preservation benefits. 

Therefore, precious metals have historically been an integral part of the world economy and still offer users economic stability. Because gold is a rare mineral, it has historically been precious.

Here we’re introducing to you the 15 best-paying jobs in precious metals and their wonderful benefits.

Best-paying jobs in precious metals

Precious metals mining is a diverse field, and many different jobs exist within it. Some of the most common positions include miners, engineers, geologists, and equipment operators. 

However, even with those positions making up many of the available jobs in precious metals mining, some positions pay a bit more than others. 

To help you find an opportunity that pays as well as possible while working in this industry, we compiled the following list of 15 best-paying jobs in precious metals mining:

1. Mining Sector

The price of gold, silver, platinum, and other precious metals has been rising recently, and many analysts expect this trend to continue. The mining of these metals is a risky but potentially lucrative career. 

Mining sector jobs often pay well above average, but the risk and long hours may not suit everyone. Mining sector jobs require significant physical strength and attention to detail. Prospective miners must also be willing to relocate to remote areas.

Average Salary: $48,110

2. Finance and Investment Sector

In this Finance and Investment sector, the average annual pay is $75,000. Precious metals such as gold, silver, and platinum are better investments than stocks and bonds.

In recent years, many investors have moved toward precious metals. The growing instability of the global economy has caused many people to diversify their investments. Stocks are considered a risky investment, and precious metals are considered a safer alternative.

Precious metals are now a significant asset in the global economy. Many investors are looking for the best ways to invest in precious metals.

Average Salary: $75,461

3. Marketing and Sales Sector

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The average salary for a marketing manager is $75,500 per year, while the average salary for a sales manager is similar. 

These careers are perfect for people who want to work with people and have a natural drive. 

Becoming a marketing or sales manager doesn’t need a degree, but it helps. Most companies prefer to hire people who have experience in these fields.

Average Salary: $75,504

4. Manufacturing Sector

The manufacturing sector offers the highest average pay in the precious metals manufacturing industry. The average wage for manufacturing workers ranges from $38,000 to $60,000, depending on the company, location, and industry. The hourly average wage for manufacturing workers in the United States is $20.19. 

Precious metals manufacturing employs thousands of Americans and offers competitive pay and benefits. Top employers of precious metals manufacturing workers in the United States include General Electric Company, Honeywell International Inc., Ingersoll-Rand Company, United States Steel Corporation, Alcoa Inc., and Century Aluminum Company.

Average Salary: $46,640

5. Jewel Designer

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A career in this field might be for you if you are detail-oriented and enjoy working with your hands.

As a jewel designer, you will be responsible for sketching designs and working with precious metals to create rings, necklaces, and other items. You will need to have a high level of skill in both creativity and technical know-how to succeed in this position.

As a jewel designer, you will be responsible for sketching designs and working with precious metals to create rings, necklaces, and other items. You will need to have a high level of skill in both creativity and technical know-how to succeed in this position.

Average Salary: $57,519

6. Refinery Operator

Precious metal refinery operators refine raw materials like copper, gold, and silver to produce a purer metal product. These materials are helpful and require people to operate the refinery where it is processed. Precious metals are valuable in several industries, like technology, health care, and manufacturing.

How to Become a Precious Metal Refinery Operator: You need a high school diploma or GED to start training for this position. After completing your training, you must have a driver’s license. You will also need to be licensed to operate the machinery in the refinery.

Average Salary: Between $54,800 and $64,600

7. Gemologist

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If you’re interested in working with precious metals, a career in gemology may be just what you’re looking for. A gemologist studies the properties and value of precious stones and how they are mined, cut, and polished. 

This career path is similar to a mineralogist, who studies the properties and value of non-precious metals, and how they are mined, refined, and processed.

What you need to start: You’ll typically need an associate’s or bachelor’s degree in a related field, such as geology, physics, or engineering. You may also need to take classes in gemology to be certified.

Average Salary: $57,612

8. Lapidaries

Lapidaries polish, cut, and shape precious stones and minerals into jewelry and other items. Lapidaries might work with diamonds, rubies, sapphires, or other valuable stones. 

Lapidaries may specialize in a specific type of stone or certain types of products. For example, a cabochon cutter may specialize in working with certain types of semiprecious stones to produce certain types of products. 

best-paying jobs in precious metals
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Working in factories and shops, they may also operate their businesses. You can earn money by getting involved in the lapidary profession. The median annual wage for jewelers and lapidaries was not very high in 2016, but it’s more than for other precious metals jobs.

Average Salary: $35,790

9. Senior Accountants

Investing in precious metals is a great way to start a career in the financial services industry. Precious metals, such as gold and silver, are often used for investment due to fluctuating prices. 

As an accountant within the precious metals industry, you will be responsible for tracking the sales and purchases of gold, silver, and other precious metals. You will also be responsible for recording daily transactions and updating inventory.

Though the work may seem tedious, there are many benefits to this type of career. Precious metals are commodities expected to rise in value, which means this is a form of investment. 

This is an excellent place to begin if you are interested in investing and financial services. You may not get wealthy immediately, but this is a great way to grow your wealth over time.

Average Salary: Between $77,502 and $94,802

10. Consultants

If you are considering a career in precious metals, you might consider becoming a consultant, as this is the highest-paying job in this industry. 

To be a consultant, you typically need a graduate degree in relevant fields, like business, economics, or public policy. You also usually need several years of experience in the industry, as well as lots of connections, to get this job.

Start networking and get your degree as soon as possible to become a consultant.

Average Salary: $81,489

11. Quality Control Specialist

Quality control plays a vital role in manufacturing in the precious metals industry. Without quality control, the materials will not be suitable for their intended purposes. Quality assurance is necessary because producing these materials requires exact conditions.

The best-paying jobs in precious metals are in the quality assurance department. Quality control specialists must inspect materials, equipment, and facilities for defects. 

They must have extensive knowledge of the production process and the equipment used. Most importantly, they must have an eye for detail and accuracy when inspecting products and materials.

Average Salary: $41,184

12. Sales Associate

Due to stock market uncertainty and fluctuating currency values, precious metals, such as gold, silver, and copper, have been safe investments over the past few years.

Many people have turned to precious metals as a stable source of wealth and have profited greatly. Sales representatives for these products can earn a very nice commission for selling these items. 

A sales rep in the precious metal industry can earn a substantial amount of money each year due to the commission-based pay structure.

Average Salary: From $60,403 to $90,605

13. Industrial Engineer

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Engineers in the industrial sector are responsible for improving the efficiency of businesses and organizations. They do this by studying the process and workflow of various tasks to see where improvements can be made. Those interested in mining may find this sector the best-paying jobs in precious metals.

Industrial engineers might specialize in a particular industry, such as manufacturing or health care, or a specific area of industry, such as logistics or manufacturing engineering. 

Industrial engineers expect to spend most of their time on process flow, researching new technologies, and solving problems.

Average Salary: $78,795

14. Precious Metal Analyst

If you want to make money in the precious metals market, you might want to consider becoming a particular metal analyst. Not everyone has the education and experience to become a specific metal analyst. Still, if you have the proper credentials, then this could be a very lucrative career path for you.

Precious metal analysts help investors and traders make sound decisions regarding purchasing and selling precious metals.

They study current trends and economic and political factors influencing the market to make recommendations. If you are analytical, detail-oriented, and have a strong desire to work in the industry of precious metals, then this might be the perfect job for you.

Average Salary: $70,892

15. Precious Metal Consultant

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A precious metals consultant is responsible for:

  • Making granular estimations of precious metals demand and supply data for each country and sector, 
  • Cooperating with other internal employees to ensure integrated data series, 
  • Contributing to conference presentations, 
  • Consulting projects, 
  • Reports, 
  • Making charts and tables, 
  • Attending conferences or other functions in the precious metals industry, 
  • Creating and maintaining relationships with industry clients, 
  • and establishing and maintaining databases. 

To become a precious metals consultant, you must have experience in the precious metals industry or commodity analysis and advanced Excel and database skills. In addition to being a competent communicator, it is essential to be a good listener. 

Average Salary: $81,489

Conclusion: What Are The Best-Paying Jobs In Precious Metals?

You can see that the choice to work in precious metals is excellent. If you prefer a demanding, intriguing, creative, and versatile job in which you never experience the same thing twice, this occupation is for you. 

If you have creativity and an eye for jewelry design, you’ll be a terrific jeweler or goldsmith. Perhaps you’re the one who makes the sale, creates attractive advertisements, and draws in customers. 

If you want to make a living, this industry has several positions that await you. If you choose precious metals for your future profession, you will make money and have fun doing it.

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Posted by Elena Hudgens
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Elena Hudgens is an entrepreneur with 10+ years of experience. She started her journey by building her own e-commerce website on Shopify and turned her $1000 savings to millions in just 2 years. Soon she started different ventures in which she failed and succeeded. And now, she's on a mission to help other entrepreneurs with her life and business lessons.
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