One obvious concern anyone has when choosing a career is, “how much will I make in a year?” Of course, we’re all looking for a job that will fulfill and challenge us on a personal level while also allowing us to make a solid living.
For many people, the career path of a bounty hunter or bail bondsman can fulfill this goal, but the earnings of a bail bondsman can wildly vary, both from state-to-state and from bondsman to bondsman. Learn about bail bondsman earnings, what factors affect your paycheck, and how you can earn the most money in this exciting line of work.
Bail Bondsman Income
The first thing you need to understand when researching average bail bondsman income is that it varies wildly based on your level of experience, the state in which you practice and how good you are at your job. Newer bondsmen sometimes use this business as a supplementary income, building their clientele until they reach a solid income level, which can range well into six figures!
Many bail bondsmen earn income based on the fees they charge for posting bond. These businesses work through paying bail on behalf of a client to the courts so that the client can go free while awaiting trial. They get this bond back when the client appears in court, but they also charge a 10% to 20% fee to the client on top of the bond they pay. This is how they make a profit on their business.
Income for a New Bondsman
New bail bondsmen are licensed and bonded to underwrite the bonds they handle, and agents working for the company usually earn between $10 and $15 per hour as they build experience. This translates to a salary of roughly $25,000 per year. Most payment, though, will be based on commissions via clients the new bondsman brings into the company.
Income for Experienced Bondsmen
The most experienced bail bondsmen can earn well into six figures. Those who earn this kind of money usually have many years of experience and are outstanding at what they do. The Bureau of Labor Statistics (BLS) for the United States doesn’t specifically track bail bondsmen, rather including them under “Financial Specialists, All Other.”
According to the Bureau of Labor Statistics, this job classification pulls an average annual wage of $76,230 per year, with top earners pulling down around $118,780 annually. Other sites record that bondsmen at the top of their field can earn between $130,000 and $150,000 annually. Regardless, to get to this level you’ll need top skills, training and experience in your area.
Working as a bail bondsman can be exciting and challenging, and ultimately rewarding. It does, however, require a great deal of commitment and experience to become a top earner in the field. If you are interested in how to become a bail bondsman in your state or in the potential earnings for professionals where you live, check out your state page to find all the information you need to get started today!