How Much Do Jewelers Make in an Average Year

One of the most common questions that people ask is how much do jewelers make? The answer to that is a resounding “it depends”. We are not trying to be evasive at all but there are many variables that go into the calculation of a jeweler’s income. During the course of this conversation we are going to look at some of the variables that influence the amount of money a jeweler can earn in a year.

  • Things that can help increase a jewelers take home pay
  • Things that can place downward pressure on how much a jeweler earns
  • Steps to follow when trying to generate more sales

Things That Can Help Increase a Jewelers Take Home Pay

One of the simplest ways a jeweler can increase their take home pay is by selling more jewelry. Each jeweler will usually receive an hourly rate and a commission on any sales over a predetermined amount.

By selling over and above the predetermined amount a jeweler can earn a considerable amount, how much? The only way to get a better deal is to negotiate with the owners of the jewelry shop. You will need to show them results but if you are a performer they will be willing to give you a better commission.

Another way to earn more money as a jeweler is to take upgrading courses that will help you improve your credentials. But if you want to maximize your earnings you should consider starting your own jewelry shop. This is not something that you should take lightly but since you own the business you could in theory take the proverbial lion’s share of the profit provided you have competitively priced jewelry that people want to buy.

Things That Can Reduce a Jewelers Take Home Pay

If the jeweler is doing business in an area that is experiencing economic depression, then their income will be greatly impacted. The only way a jeweler can earn money is by selling jewelry but if the economy is doing poorly it will have a direct impact on how much a jeweler can earn.

Since the global economy is facing some challenges just about everywhere except areas where the super-rich live has been negatively affected to some degree.

Another variable aside from being in an economically depressed area is not having superior professional qualifications. When you are discussing your compensation with the owner of the jewelry shop they will look at your qualifications which will have a direct impact on how much you earn.

Key Steps to Take When Trying to Earn More Money as a Jeweler

The only surefire way to earn more money as a jeweler is to try and offer your jeweler online. By reaching out to potential customers around the world your chances of achieving success will improve dramatically.

Currently the average jeweler earns between $35,000-50,000 per year (source) but with the right amount of marketing there is no telling how much money they could earn, the more they work at it the more they are going to earn.

Carl A. Jones, GIA GG

Carl A. Jones is a GIA Graduate Gemologist with over 20 years of experience in the diamond industry. He is an independent jewelry appraiser. He specializes in determining the value of diamonds and advising consumers on how to buy quality diamond jewelry.

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