IndependentsMar 14, 2025
Stafford’s Diamonds in Ohio to Close After 40 YearsThe Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.
EditorsOct 01, 2008
Salaries in the jewelry industry
My son just graduated from business school with a degree in marketing and consumer behavior and, since he comes from a jewelry family, I kinda coaxed him to continue the family tradition. He has been going through the "required" job...
My son just graduated from business school with a degree in marketing and consumer behavior and, since he comes from a jewelry family, I kinda coaxed him to continue the family tradition. He has been going through the "required" job interview process (ugh) and has received a few offers from jewelry companies.
Interestingly enough, he has also received several offers from cosmetic, stock broker, clothing and leather accessory retailers. I was thrilled, indeed.
When he accepted the offer from a leading cosmetic company, however, I was disappointed. "Why not a jewelry company?" I asked.
Salaries at these other companies, he told me, were on average a full 35 percent above the salaries being offered at jewelry companies. In fact, the job he took had a 58 percent higher starting salary than the highest offer he received from a jewelry company.
So this raises a bunch of questions. First, is the jewelry industry a "closed-industry?" If you don't come from a jewelry family, or haven't started as a high school jewelry intern (you know what I mean), does that mean you really can't enter the industry? You're not a "jewelry person?"
Maybe jewelry company executives feel the industry is so complicated that an MBA would be over his head. Or maybe, the industry is so simple, that jewelry executives feel MBAs would be wasting their education.
But no matter what executives think, cosmetic, clothing and accessory retailers' sales and profits (per RMA ratio analysis) are, on average, way higher than jewelry retailers.
Would more competitive salaries have had an impact on the current jewelry industry tumult? What about the industry's future profits and economic health?
Jan Brassem is a founder of Eclipse Global Consulting LLC, a firm that assists jewelry retailers who are expanding into foreign markets and/or sourcing globally. You can e-mail him at Jan@EclipseGlobalConsulting.com.
Editors' Picks
Sponsored by
More on Editors
The Latest
Events & AwardsMar 14, 2025
JVC Reveals Recipient of Stanley Schechter AwardReeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.
CollectionsMar 14, 2025
Piece of the Week: Sorellina’s Aries Zodiac PendantThe piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the FutureSupplier Spotlight Sponsored by GIA
MajorsMar 13, 2025
Tanishq Opens 2 New Stores in the U.S.The Indian jewelry brand recently opened stores in Atlanta and Seattle.
Weekly QuizMar 14, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMar 13, 2025
Brilliant Earth’s 2024 Sales Struggled Amid Engagement RecoveryCEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.
CollectionsMar 13, 2025
Chopard Unveils High Jewelry Collection Created From 6,225-Carat Emerald The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
MajorsMar 13, 2025
Jewelers Mutual Names New CFO, TreasurerChris Anderson is joining the insurance provider as the new chief financial officer and treasurer.
Lab-GrownMar 13, 2025
JA Offering Some ‘Counter Intelligence’ on Diamonds Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.
SourcingMar 12, 2025
5 Factors That Will Impact the Diamond Industry in 2025The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.
SourcingMar 12, 2025
Q&A: New GJEPC Chairman Kirit BhansaliBhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.
Lab-GrownMar 12, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
SourcingMar 12, 2025
Indian Leader, Retailer Among 2025 DDG Honorees Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.
IndependentsMar 12, 2025
Marla Aaron Migrates to LondonThe New York City-based brand has opened its first U.K. location with a permanent shop-in-shop at Liberty in London.
AuctionsMar 12, 2025
A Medieval Bishop’s Sapphire Ring Is Going Up for SaleA metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.
Events & AwardsMar 12, 2025
JA New York Announces Education, Live Demo LineupsOrganizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.
Events & AwardsMar 12, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red CarpetAhead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, CampaignFounded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer DatabaseThose attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual LuncheonThe organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.
MajorsMar 10, 2025
Terry Chandler to Retire After 24 Years as Head of DCA Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ CollectionScottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship WinnersAhead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.
