As more people turn to oceans and seas for recreation, food, transportation, and energy, the demand for marine business professionals is rising. Marine business students study the logistics of marine transport and have a stellar understanding of the various recreational and commercial water vessels. They are also well-versed with marine insurance practices and the business of ship chartering. Graduates are, therefore, equipped with the knowledge and skills to provide a variety of business services in the maritime industry.
A couple of the colleges offering this credential include:
Upon graduation, you could become a:
1. Yacht Broker
In this profession, you will utilize your brokerage knowledge to connect aspiring yacht owners with potential buyers. You may represent the buyers in price negotiations, as well as arrange for the registration of the purchased yachts. As a beginning yacht broker, you will work for established brokerages and yacht manufacturers. According to job site Indeed, yacht brokers make an annual salary of $102,000.
2. Marine Insurance Sales Agent
If you have strong sales skills, you can combine them with a degree in marine business to become a competent marine insurance sales agent. You will be hired by insurance carriers or insurance brokerages, and your primary task will be to find marine insurance clients. This involves fielding calls to yacht owners and shipping companies, or visiting port terminals to interact with potential clients. The annual average salary for marine insurance agents is $67,000, Indeed reports.
3. Shipping Manager
Shipping managers work in companies that offer shipping services, where they oversee shipping operations. These managers supervise personnel, ensure items are properly packed for shipping, maintain positive relationships with clients, and ensure all operations are executed in compliance with relevant shipping laws and regulations. According to PayScale, the median annual wage for shipping managers is $45,244. Experienced managers can earn up to $65,000.
4. Purchasing Manager
Some businesses hire individuals with an academic background in marine business to work as purchasing managers. Here, you will use your knowledge of the marine industry to navigate the pitfalls in the import market, hence helping your employer to acquire goods easily and cost-efficiently. The common employers of purchasing managers with a degree in marine business include manufacturing plants that import raw materials and equipment from other countries. The Bureau of Labor Statistics notes that the mean annul wage for purchasing managers is $109,640.
5. Port Operations Manager
Without port managers, many ports would no doubt grind to a halt. These professionals are hired by port authorities, and they work to maintain operational order in terminal ports. They coordinate the movement of ships, the unloading and loading of cargo, as well as a range of customs activities. Port managers also use their knowledge of navigation laws to ensure water vessels without appropriate documentation are not allowed to dock at the terminal. According to Indeed, port operations managers make $82,000 a year.
Besides these five jobs, you can also become a clearing and forwarding agent or a maritime risk analyst.
So, if you have good business acumen and would love to work in the maritime industry, you should pursue a bachelor’s degree in maritime business.