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Anyone heard of being a ship broker?

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  #21 (permalink)  
Old 06-03-2013, 01:06 AM
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I am a shipbroker (offshore) and yes, I can tell you nobody cares about promotions and career progression as brokers are generally very money-driven people. Promotions means you need to guide people/ take care of people/ spend time doing admin work. Roughly, if you are good, you should be a section head in about 3-5 years. Probably 10 years or so, managerial position should not be a problem as well.

Basic salary can be between 3-10k per month (depending on rank). Bonuses, depends on how much you bring in for the brokerage. Unwritten rule is 1/3 of the commission you bring into the co is yours. So actually, earning 100-300k in bonuses when you have less than 5 years experience is normal.

Qualities to excel: very hardworking (most brokers I know, will still turn up at 830 for work looking fresh like they didn't get drunk the night before), PR skills is very important, initiative, good time management. Good shipbrokers are generally very smart (street + book) as well. They read widely, listen/read news every day and have a good general knowledge of the industry and non-related stuff as well. This is so that you can carry out decent conversions with your clients and it gains their trust. Such shipbrokers usually rack in about 500k onwards in bonuses alone.

Don't think there is any ranking for brokerages as after all, shipbroking is a very "me" profession. You will do well as long as you are smart and willing to work hard.

Oh by the way, I am female and I earn a 6 figure salary annually. I can assure you that staying "pure" in the job is not difficult as long as you are not tempted.
Marry me !

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  #22 (permalink)  
Old 10-03-2013, 05:17 PM
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Hi all !

I'm a final year undergrad majoring in Economics and finance and due for completion this coming may( my results will be out somewhere in aug) I am pretty confident that i could secure a First class hons or at least a 2nd upper and i am very interested in getting into ship brokering line. But the downside is that -- i do not have any maritime related experience... unfortunately i couldn't get any internships from firms in the related business back then.. ( brokering, chartering,ship mgt..etc)
The only experience i hav was a intern in the back office of a foreign bank.. doing mainly ops stuffs,nothing glamorous..

Would that affect my chances of getting in ? I am looking in applying to a few major shipbroking firms( foreign ones), would it b very hard for someone like me with no prior experience? I have a basic idea of what a ship broker does and what to expect and im all prepared for it.. would the firms discriminate against me becos of me lacking in experience and perhaps " relevant knowledge".. Or would it be better if i were to apply to local / SMEs firms for a start?

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  #23 (permalink)  
Old 03-05-2013, 03:03 PM
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Anybody knows how is it like being a junior shipbroker in a boutique firm? how's the prospect like and remuneration?

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  #24 (permalink)  
Old 03-05-2013, 04:34 PM
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Originally Posted by villan View Post
Anybody knows how is it like being a junior shipbroker in a boutique firm? how's the prospect like and remuneration?
Jrs usually start off with low basic ~4k and average bonuses of ~50k if dont screw up badly.
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  #25 (permalink)  
Old 03-05-2013, 04:59 PM
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Quote:
Originally Posted by Unregistered View Post
Jrs usually start off with low basic ~4k and average bonuses of ~50k if dont screw up badly.
what should my expected salary be given that I have totally no experience in the shipping line (only 1 yr working experience in another industry)?

How can I convince the interviewer to hire me?
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  #26 (permalink)  
Old 29-05-2013, 09:34 PM
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Quote:
Originally Posted by Unregistered View Post
I am a shipbroker (offshore) and yes, I can tell you nobody cares about promotions and career progression as brokers are generally very money-driven people. Promotions means you need to guide people/ take care of people/ spend time doing admin work. Roughly, if you are good, you should be a section head in about 3-5 years. Probably 10 years or so, managerial position should not be a problem as well.

Basic salary can be between 3-10k per month (depending on rank). Bonuses, depends on how much you bring in for the brokerage. Unwritten rule is 1/3 of the commission you bring into the co is yours. So actually, earning 100-300k in bonuses when you have less than 5 years experience is normal.

Qualities to excel: very hardworking (most brokers I know, will still turn up at 830 for work looking fresh like they didn't get drunk the night before), PR skills is very important, initiative, good time management. Good shipbrokers are generally very smart (street + book) as well. They read widely, listen/read news every day and have a good general knowledge of the industry and non-related stuff as well. This is so that you can carry out decent conversions with your clients and it gains their trust. Such shipbrokers usually rack in about 500k onwards in bonuses alone.

Don't think there is any ranking for brokerages as after all, shipbroking is a very "me" profession. You will do well as long as you are smart and willing to work hard.

Oh by the way, I am female and I earn a 6 figure salary annually. I can assure you that staying "pure" in the job is not difficult as long as you are not tempted.

hey who ever u are get in touch. need info on shipbroking. [email protected]
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  #27 (permalink)  
Old 30-05-2013, 08:43 AM
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there are many different kinds of brokers and sub categories:

1. S&P / demolition
2. Chartering

a. Offshore
b. Tankers, bulkers, container
c. Dry /wet cargo

Offshore segment seems to be where the best rates are now.. most others are in a slump. A broker can cover more than one segment but there are more clearly drawn departments in the bigger brokering firms.

Working for an owner, i do not like using a broker if i can help it. That said brokers always offer to bring me out for drinks and more which i turn down. Different strokes for different folks.
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  #28 (permalink)  
Old 05-06-2013, 07:43 PM
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I am pursuing Chartered Shipbrokering course in ICS London. will i get a good job with a good pay??
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  #29 (permalink)  
Old 06-06-2013, 08:27 AM
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I am pursuing Chartered Shipbrokering course in ICS London. will i get a good job with a good pay??
why do people insist on posting such questions?? your qualifications will get u one foot in. the rest is up to u.
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  #30 (permalink)  
Old 06-06-2013, 12:23 PM
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because I want to estimate my future earnings.. Duh
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