Information Broker Job Description, Career as a Information Broker, Salary, Employment - Definition and Nature of the Work, Education and Training Requirements, Getting the Job
Education and Training Bachelor’s degree
Average Salary $64,000 per year
Job Outlook Very good
Basic Job Description
An information broker is a business or individual that researches information for business. They are commonly hired to research patents, copyright information, or market research. However, they are able to conduct just about any type of information research necessary. Information brokers are not technically “brokers,” but more related to an accountant or lawyer, as they provide professional services for businesses for a fee. Businesses who are looking to copyright a name or logo or patent a product will often call upon an information broker to research and determine whether or not it has already been thought up or is being used elsewhere. Information brokers are skilled in a variety of areas, particularly forms of research, and have the tools and knowledge needed to find out exactly what a client needs to know for their business.
Education and Training Requirements
There is no specific degree for someone who wants to work as an information broker. Many obtain a Bachelor’s degree in business or marketing to gain an understanding of business strategies and market research.
Information brokers typically start off working in business administration for companies like law firms, medical research facilities, marketing or public relations firms, or other companies that allow them to utilize research skills. Over time, information brokers typically start their own business where they will promote their services to businesses and work for several clients at a time to provide them with research strategies.
Getting the Job
Information brokers are almost always self-employed and work for a variety of companies that constantly need research performed on new developments in the market, new strategies that could be used to develop their business, or even new scientific breakthroughs such as medical advancements.
Information brokers need to have excellent written and oral communication skills. Once they are hired by a company, they will have to sit with the business owners or marketing department to find out exactly what they need to be researched. Once the information broker has all the information they need, they must be able to use a variety of research strategies and techniques to find and confirm that all the information is correct and up to date. Information brokers also know how to keep up to date on the latest research strategies and techniques and have a variety of sources to contact in the event that information needs to be confirmed.
Information brokers are well organized and aggressive when it comes to their job. In order to succeed, a broker will be willing to work long or unusual hours and do whatever it takes to find necessary information. If a broker wants to maintain clients and be referred by clients to other companies, they will possess all of these skills.
Job Prospects, Employment Outlook and Career Development
Information brokers often start out working for whoever will hire them, assuming they can confidently and accurately perform research. Over time, some information brokers may come to realize they perform their best work and research in a specific field such as law or medicine. If this is the case, brokers can advance their career and business by specializing in specific types of research such as medical advancements, patents and copyrights or marketing strategies.
Employment outlook for information brokers is continually on the rise as technology advancements are allowing for more ways to perform research. Many companies cannot find the time to keep up to date with the latest research strategies, so hiring someone who can stay on top of technological advancements and necessary research information is integral to keeping their company up to date.
Working Conditions and Environment
Many information brokers are self-employed and work out of their home or personal office. They spend much of their time performing research on a computer or over the phone with government business that may be able to provide proper information. When brokers are not working in the office and performing research, they are meeting with business owners and discussing what information they need and what needs to be researched. Brokers often work for several businesses at once and will spend the majority of some days visiting several clients. Some days will be spent holding meeting with business owners, and others will be spent performing research.
Information brokers also need a strategy to present the information they discovered to the clients. They use computer programs and presentation strategies to host meetings with clients and show that they have accurately obtained everything they need.
It is not uncommon for an information broker to work long or unusual hours in order to get everything a business needs. They must be able to motivate themselves to get their work done, and also be able to work in groups of people when meeting with businesses. Brokers need to be able to handle stress if they are forced to work under pressure or complete a large project in a short amount of time.
Salary and Benefits
The average salary for an information broker is about $64,000 per year. Since most brokers are self-employed, salaries can vary significantly depending on the experience they have and number of clients. Brokers who regularly work for large companies will make significantly more than someone who works for smaller companies and is just getting into the field.
Self-employed brokers are also in charge of purchasing their own health insurance benefits since they do not work for one specific company. They also must work vacation and sick time around the needs of clients and size of their workload. In rare cases, brokers will work as a full-time for a company and will be in charge of their entire research department. If this is the case, the company will often provide these benefits to the employer.
Self-employed information brokers have the benefit of flexibility that comes with working for themselves. If a broker manages their time well they can keep work flowing successfully, but still allow for plenty of freedom and flexibility in their life.
Where to Go for More Information
Association of Independent Information Professionals
8550 United Plaza Boulevard, Suite 1001
Baton Rouge, LA 70809
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