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Precious Stone or Metal Worker

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AVG. SALARY

$46,770

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EDUCATION

High school (GED) +

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JOB OUTLOOK

Stable

Real-Life Activities

Real-Life Math

One of the most common ways that jewelry designers use their math skills is in placing value on the items they create. This usually involves adding up the cost of materials and labor.

You have just finished designing an elegant necklace. In it, you used:

4 emeralds, valued at $120, $410, $300 and $225
2 diamonds, valued at $500 and $1,200
14 grams of 14-karat gold, with a value of $40 per gram

The piece took you 18 hours to design and make. You usually build in a labor cost of $25 an hour.

Finally, you need to assess an added value. As a rule of thumb, you use 40 percent of the total cost of raw materials and labor. You will add that figure to the total to get the final price.

How much will this piece sell for?

Contact

  • Email Support

  • 1-800-GO-TO-XAP (1-800-468-6927)
    From outside the U.S., please call +1 (424) 750-3900

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.