If you’re like many people, the first thing that you want to know about a potential career is your potential income. While many professions offer good money, a career you should consider for impressive compensation is bounty hunting. Although bounty hunters typically do not make a salary (a fixed regular amount of income from one source) there are many factors that can influence your income when working as a bounty hunter, you should be able to earn a good amount wherever you work.
Before you begin your pursuit of a bounty hunting career, it’s important that you learn more about the money you can make in this profession. Read about your potential bounty hunter income and find out a few easy ways that you can improve your career bounty hunting earning prospects.
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Issues that Can Affect Your Income
A good starting point to learn about your possible income as a bounty hunter is examining the different factors that can influence your pay.
The primary issue that will influence your income as a bail bondsman is the state in which you work. Like many professions, some states will offer competitive pay while others may offer unappealing earnings. Another issue that can affect your pay is the frequency of bail skipping in your state. Unless they work for an agency, bounty hunters are usually paid per bond recovery. If few opportunities for bond recovery exist, your pay will be much lower.
Finally, experience in the field can drastically alter your bounty hunter income. More seasoned bounty hunters can expect higher earnings than those new to the field.
Ways to Improve Your Bounty Hunter Income
Now that you know the different issues that can determine your income as a bounty hunter, it can be a good idea to learn about ways to improve your potential earnings.
The best way to increase your potential income as a bounty hunter is to acquire both experience and training. The more credentials and experience you possess, the higher the pay you can earn. Another way to increase your earnings is to develop professional connections. This will give you leads to more lucrative bonds and increase your pay.
Lastly, if you are an independent bounty hunter, the best way to maximize your income is to pursue as many bonds as possible. Increase the amount of bonds you recover and grow your income.
Bureau of Labor Statistics Information
The easiest way to learn about the potential income for a given profession is to examine the data provided by the United States Bureau of Labor Statistics (BLS). Unfortunately, the BLS does not provide specific numbers for bounty hunters. However, by examining a related career like being a private detective, you can get some idea of what a bounty hunter may earn.
The most recent report by the BLS was released in 2015, and according this report, the median pay for a private detective that year was $45,610 or $21.93 per hour. The BLS report also projected impressive job growth. As of 2014, there were 34,900 private detectives working across the country. Between 2014 and 2024, this number is expected to grow by 5%, which translates to 1,500 additional jobs.
As a bounty hunter, you can find similar job prospects and a similar income to that of a private detective.