Career Definition of a Freight Analyst
A freight analyst performs many of the essential functions of a logistician, but they focus on shipping services. Their role is to determine the most cost-effective way to complete shipments of freight. Freight analysts may investigate different costs to determine the best freight companies to work with. They also evaluate other costs, such as storage fees and fuel costs, that may be associated with shipping freight.
Freight analysts may work for companies that provide shipping services to others or for any kind of company that has a high volume of products to ship. Some of their responsibilities may include organizing routes, managing carrier payments and addressing conflicts between the customer and the carrier. They may contract with third-party shipping companies to fulfill shipping services on behalf of their company. Freight analysts gather and process a lot of information, and they must produce regular reports based on their assessments. They constantly evaluate their company's shipping needs and costs, as well as the quality of the service provided. They identify areas for improvement and look for ways to resolve performance issues. They may also assist in producing financial statements and other financial materials.
|Educational Requirements||Bachelor's degree|
|Job Skills||Computer skills, time management skills, multitasking skills, communication skills, interpersonal skills, analytical skills, teamwork and independent work skills, problem-solving skills, mathematical skills, organizational skills|
|Mean Salary (2019)*||$69,035|
|Job Outlook (2018-2028)**||5% (for all types of logisticians)|
Sources: Glassdoor.com; **U.S. Bureau of Labor Statistics
Employers look for applicants with a bachelor's degree when hiring freight analysts. Those who are considering a career in this field could pursue studies in supply chain management, business or logistics, among other areas. They also benefit from a background in finance or accounting. Because they need to have computer skills, they may want to ensure that they complete computer courses that cover the use of programs like SQL databases, Excel and Microsoft Office Suite.
Freight analysts use software to analyze data and produce reports, so they need to have good computer skills. Analytical skills are essential because freight analysts must be able to process information and use it to reach conclusions and support recommendations. Freight analysts need problem-solving skills to effectively address issues, find ways to improve business operations and determine how to prevent future issues. Mathematical skills are needed to determine costs and produce financial statements. Communication skills are key, since freight analysts must be able to explain their conclusions clearly to others.
Career Outlook and Salary
Glassdoor.com reported that, in 2019, freight analysts earned an average income of $69,035 per year. Freight analysts are part of the U.S. Bureau of Labor Statistics (BLS) occupational listing for logisticians. The BLS indicated that, from 2018 to 2028, logisticians were expected to see a job growth rate of 5%. This is the same as the national average job growth rate for all occupations.
A career as a freight analyst involves strong analytical skills and the ability to monitor lots of data and processes. Those considering a career in this field may be interested in other occupations related to the shipping industry or that feature analysis. Links to some other career options are provided here.