Education:
37%
Bachelor's Degree
24%
Some College Courses
Real Estate Brokers
This is a sub-career of
Real Estate Broker or Sales Agent
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Select a specialized sub-career for more details.
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Job Outlook:
As fast as average
Education:
High school diploma or equivalent
Salary
High:
$173,000.00
Average:
$90,930.00
Hourly
Average:
$43.72
What they do:
Operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.
On the job, you would:
- Sell, for a fee, real estate owned by others.
- Obtain agreements from property owners to place properties for sale with real estate firms.
- Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.
Important Qualities
Business skills. Because most real estate brokers and sales agents are self-employed, they must be able to manage every aspect of their business, including billing and advertising.
Interpersonal skills. Real estate brokers and sales agents spend much of their time interacting with others, such as clients and contractors. They must be pleasant, respectful, and dependable.
Organizational skills. Real estate brokers and sales agents must be able to manage their own time for planning and prioritizing their work.
Problem-solving skills. Real estate brokers and sales agents must be able to address concerns relating to a property. They also mediate negotiations between a seller and a buyer.
Self-motivated. Because they often have little or no supervision, real estate brokers and sales agents must be able to work independently.
Personality
| A3 | Your Strengths | Importance |
Characteristics of this Career |
|---|---|---|---|
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94% | Integrity - Job requires being honest and ethical. | |
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90% | Initiative - Job requires a willingness to take on responsibilities and challenges. | |
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89% | Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high-stress situations. | |
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88% | Persistence - Job requires persistence in the face of obstacles. | |
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88% | Attention to Detail - Job requires being careful about detail and thorough in completing work tasks. | |
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86% | Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. | |
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86% | Self-Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. | |
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85% | Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. | |
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84% | Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations. | |
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84% | Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job. | |
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80% | Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. | |
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79% | Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction. | |
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75% | Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace. | |
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73% | Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems. | |
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68% | Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job. | |
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67% | Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems. |
| A3 | Your Strengths | Importance |
Strengths |
|---|---|---|---|
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100% | Enterprising - Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law. | |
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78% | Conventional - Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources. |
| A3 | Your Strengths | Importance |
Values of the Work Environment |
|---|---|---|---|
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67% | Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. | |
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61% | Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. | |
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61% | Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service. |
Aptitude
| A3 | Your Strengths | Importance |
Abilities | Cognitive, Physical, Personality |
|---|---|---|---|
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75% | Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences. | |
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75% | Written Comprehension - The ability to read and understand information and ideas presented in writing. | |
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75% | Oral Expression - The ability to communicate information and ideas in speaking so others will understand. | |
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66% | Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense. | |
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66% | Near Vision - The ability to see details at close range (within a few feet of the observer). | |
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66% | Speech Recognition - The ability to identify and understand the speech of another person. | |
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66% | Speech Clarity - The ability to speak clearly so others can understand you. |
Job Details
Responsibilities
Contract real estate to clients.
Prepare sales or other contracts.
Review accuracy of sales or other transactions.
Appraise property values.
Negotiate prices or other sales terms.
Obtain property information.
Review laws or regulations to maintain professional knowledge.
Review accuracy of sales or other transactions.
Help clients get needed services or resources.
Appraise property values.
Monitor market conditions or trends.
Review laws or regulations to maintain professional knowledge.
Oversee business processes.
Supervise sales or support personnel.
Contract real estate to clients.
Obtain property information.
Create images or other visual displays.
Enter information into databases or software programs.
Assess compliance with environmental laws.
Contract real estate to clients.
Monitor market conditions or trends.
| A3 | Your Strengths | Importance |
Attributes & Percentage of Time Spent |
|---|---|---|---|
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100% | Electronic Mail - How often do you use electronic mail in this job? | |
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100% | Telephone - How often do you have telephone conversations in this job? | |
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97% | Freedom to Make Decisions - How much decision making freedom, without supervision, does the job offer? | |
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96% | Structured versus Unstructured Work - To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? | |
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95% | Face-to-Face Discussions - How often do you have to have face-to-face discussions with individuals or teams in this job? | |
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94% | Indoors, Environmentally Controlled - How often does this job require working indoors in environmentally controlled conditions? | |
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92% | Contact With Others - How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? | |
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91% | In an Enclosed Vehicle or Equipment - How often does this job require working in a closed vehicle or equipment (e.g., car)? | |
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90% | Level of Competition - To what extent does this job require the worker to compete or to be aware of competitive pressures? | |
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90% | Frequency of Decision Making - How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization? | |
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87% | Deal With External Customers - How important is it to work with external customers or the public in this job? | |
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85% | Impact of Decisions on Co-workers or Company Results - What results do your decisions usually have on other people or the image or reputation or financial resources of your employer? | |
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82% | Work With Work Group or Team - How important is it to work with others in a group or team in this job? | |
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79% | Letters and Memos - How often does the job require written letters and memos? | |
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76% | Importance of Being Exact or Accurate - How important is being very exact or highly accurate in performing this job? | |
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73% | Time Pressure - How often does this job require the worker to meet strict deadlines? | |
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73% | Coordinate or Lead Others - How important is it to coordinate or lead others in accomplishing work activities in this job? | |
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72% | Outdoors, Exposed to Weather - How often does this job require working outdoors, exposed to all weather conditions? | |
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67% | Spend Time Sitting - How much does this job require sitting? | |
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77% | Duration of Typical Work Week - Number of hours typically worked in one week. |
| A3 | Your Strengths | Importance |
Tasks & Values |
|---|---|---|---|
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85% | Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources. | |
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83% | Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time. | |
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82% | Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job. | |
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73% | Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. | |
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70% | Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work. | |
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70% | Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork. | |
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70% | Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. | |
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70% | Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions. | |
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69% | Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems. | |
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69% | Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events. | |
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69% | Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form. | |
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69% | Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. | |
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68% | Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions. | |
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68% | Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards. | |
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68% | Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. | |
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65% | Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. |
What Real Estate Brokers and Sales Agents Do
Real estate brokers and sales agents help clients find a home that meets their needs.
Real estate brokers and sales agents help clients buy, sell, and rent properties. Although brokers and agents do similar work, brokers are licensed to manage their own real estate businesses. Sales agents must work with a real estate broker.
Duties
Real estate brokers and sales agents typically do the following:
- Solicit potential clients to buy, sell, and rent properties
- Advise clients on prices, mortgages, market conditions, and related information
- Compare properties to determine a competitive market price
- Generate lists of properties for sale or rent, including details such as location and features
- Promote properties through advertisements, open houses, and listing services
- Take prospective buyers or renters to see properties
- Present purchase offers to sellers for consideration
- Mediate negotiations between buyer and seller
- Ensure that terms of purchase contracts are met
- Prepare documents, such as closing statements, purchase agreements, and leases
Because of the complexity of buying or selling a residential or commercial property, people often seek help from real estate brokers and sales agents.
Most real estate brokers and sales agents sell residential property. Others sell commercial property, and a small number sell industrial, agricultural, or other types of real estate.
Real estate brokers and sales agents also may list and show commercial and residential properties for rent. They help clients seeking to rent a property find a property that best suits their needs.
Brokers and agents may represent either the buyer or the seller in a transaction. Buyers’ brokers and agents meet with clients to determine what they are looking for in a property and how much they can afford. Sellers’ brokers and agents meet with clients to help them decide how much to ask for and to assure them that the agent or broker can find them a qualified buyer.
Real estate brokers and sales agents must be knowledgeable about the real estate market in their area. To match properties to clients’ needs, they should be familiar with local communities, including knowing the crime information and the proximity to schools and shopping. Brokers and agents also must stay current on financing options; government programs; types of available mortgages; and real estate, zoning, and fair housing laws.
Some brokers and agents become active in community organizations and local real estate organizations to broaden their contacts and increase their sales.
The following are examples of types of real estate brokers and sales agents:
Real estate brokers are licensed to manage their own businesses. As independent businesspeople, brokers often sell real estate owned by others. In addition to helping clients buy and sell properties, they may help rent or manage properties for a fee. Many operate a real estate office, handling business details and overseeing the work of sales agents.
Real estate sales agents must work with a broker. Sales agents often work for brokers on a contract basis, earning a portion of the commission from each property they sell.
Work Environment
Real estate brokers held about 127,200 jobs in 2022. The largest employers of real estate brokers were as follows:
| Self-employed workers | 58% |
| Real estate and rental and leasing | 39 |
Real estate sales agents held about 462,600 jobs in 2022. The largest employers of real estate sales agents were as follows:
| Self-employed workers | 57% |
| Real estate and rental and leasing | 35 |
| Construction | 3 |
Workplace size for real estate brokers and sales agents ranges from a one-person business to a large firm with numerous branch offices. Many brokers have franchise agreements with national or regional real estate companies. Under this arrangement, the broker pays a fee to be affiliated with a widely known real estate organization.
Real estate brokers and sales agents typically work in an office setting. However, they spend much of their time away from their desks to show properties, see properties, and meet with current or prospective clients.
Work Schedules
Most real estate brokers and sales agents work full time, and some work more than 40 hours per week. Work schedules may vary and often include evenings and weekends to accommodate clients’ schedules. Many brokers and sales agents spend a significant amount of time networking and attending community events to meet potential clients. Although they frequently work irregular hours, many are able to set their own schedules.
Some brokers and sales agents work part time.
Getting Started
How to Become a Real Estate Broker or Sales Agent
Real estate brokers and sales agents must be pleasant when interacting with clients.
Real estate brokers and sales agents typically need a high school diploma or equivalent to enter the occupation. They also must complete a number of real estate courses and pass a licensing exam. States typically require licensed agents to have experience before obtaining a broker’s license.
Education
In addition to having a high school diploma, real estate brokers and sales agents must complete some real estate courses to be eligible for licensure. Although most brokers and agents must take state-accredited prelicensing courses to become licensed, some states waive this requirement if the candidate has taken college courses in real estate.
Some community colleges and 4-year universities offer courses, degree programs, or certificate programs in real estate. These postsecondary credentials typically are not required, but many real estate brokers and sales agents have a bachelor’s degree. Courses in finance, business administration, economics, and law also may be useful.
Prospective brokers who plan to open their own company may find it helpful to take business courses, such as marketing and accounting.
In addition to offering prelicensing courses, many real estate associations have courses and professional development programs for both beginners and experienced agents. These courses cover a variety of topics, such as real estate fundamentals, real estate law, and mortgage financing.
Licenses, Certifications, and Registrations
All states require real estate brokers and sales agents to be licensed. Minimum requirements for candidate licensure vary by state but typically include being at least age 18, having a high school diploma or equivalent, completing prelicensing courses, and passing an exam.
Some states have additional requirements, such as passing a background check. Licenses typically are not transferable between states. However, some states have reciprocity agreements that streamline the process for brokers and agents licensed in one state to get a license in another state.
For a broker’s license, states typically require that candidates have a specified number of years of experience as a licensed sales agent and take additional formal training. In some states, a bachelor’s degree may be substituted for some experience or training requirements.
State licenses typically must be renewed every 2 to 4 years. In most states, brokers and agents must complete continuing education courses to renew their license. Prospective brokers and agents should verify requirements with the real estate licensing commission of the state in which they wish to work.
Work Experience in a Related Occupation
Most states require that candidates for a broker’s license have experience working as a licensed real estate sales agent. Requirements vary by state, but most require at least 2 years of experience.
Training
Real estate sales agents improve their skills through practice and repetition. Training varies depending on the real estate company. Some provide formal training, while others allow their agents to enter the field immediately after obtaining their license. In some states, agents must be sponsored by a broker while they are working to get their license.
Because of the sales environment and the complexity of real estate deals, new agents may observe and work closely with more senior agents. Larger real estate companies may provide formal classroom training for new agents as a way to gain knowledge and experience, while others provide training to employees studying for their real estate licensing exam.
The length of training also may vary, depending on the number of real estate transactions in which the agent takes part. Agents involved in a large number of home sales may have a shorter period of on-the-job training than agents involved in few transactions.
Advancement
Sales agents may advance by getting a broker’s license. Brokers may open their own business or work as associate brokers to manage an independent office within a real estate company. Their responsibilities might include hiring, training, and assisting sales agents.
Job Outlook
Overall employment of real estate brokers and sales agents is projected to grow 3 percent from 2022 to 2032, about as fast as the average for all occupations.
About 51,600 openings for real estate brokers and sales agents are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Employment
There will be a continued demand for real estate brokers and sales agents because people turn to these workers when looking for a new home, relocating, or purchasing property for a business, among other reasons. Employment is projected to grow along with the real estate market.
Tighter credit regulations and increasing real estate prices may force some people to continue renting as opposed to entering the housing market, which may result in fewer new jobs for real estate brokers and sales agents.
The real estate market is highly sensitive to fluctuations in the economy, and projected employment of real estate brokers and agents varies accordingly. In periods of economic growth or stability, employment should grow to accommodate people looking to buy homes and commercial or retail space. Alternatively, during periods of declining economic activity or rising interest rates, the amount of work for brokers and agents often slows and employment may decline.
Contacts for More Information
Information on licensing requirements for real estate brokers and sales agents is available from most local real estate organizations and from the state real estate commission or board.
For more information about opportunities in real estate, visit
Similar Occupations
This table shows a list of occupations with job duties that are similar to those of real estate brokers and sales agents.
| Occupation | Job Duties | Entry-Level Education | Median Annual Pay, May 2022 | |
|---|---|---|---|---|
|
Advertising Sales Agents |
Advertising sales agents sell advertising space to businesses and individuals. |
High school diploma or equivalent | $58,450 |
|
Property Appraisers and Assessors |
Property appraisers and assessors provide a value estimate on real estate and on tangible personal and business property. |
Bachelor's degree | $61,560 |
|
Insurance Sales Agents |
Insurance sales agents contact potential customers and sell one or more types of insurance. |
High school diploma or equivalent | $57,860 |
|
Loan Officers |
Loan officers evaluate, authorize, or recommend approval of loan applications. |
Bachelor's degree | $65,740 |
|
Property, Real Estate, and Community Association Managers |
Property, real estate, and community association managers oversee many aspects of residential, commercial, or industrial properties. |
High school diploma or equivalent | $60,670 |
|
Securities, Commodities, and Financial Services Sales Agents |
Securities, commodities, and financial services sales agents connect buyers and sellers in financial markets. |
Bachelor's degree | $67,480 |
|
Wholesale and Manufacturing Sales Representatives |
Wholesale and manufacturing sales representatives sell goods for wholesalers or manufacturers to businesses, government agencies, and other organizations. |
See How to Become One | $67,750 |
|
Retail Sales Workers |
Retail sales workers help customers find products they want and process customers’ payments. |
No formal educational credential | $30,750 |
|
Personal Financial Advisors |
Personal financial advisors provide advice to help individuals manage their money and plan for their financial future. |
Bachelor's degree | $95,390 |