Do you want to work in the capital goods industry? If that’s the case, you’ll be pleased to learn that there are several well-paying positions available in this industry. Indeed, recent studies show that the average compensation for workers in the capital goods industry is greater than the average for all other industries.
So, if you’re seeking profitable employment, think about working in capital goods. We’ll look at some of the best-paying jobs in capital goods and what you can expect to earn in this blog article. Continue reading to find out more.
What are Capital Goods?
Before delving deeper into the best-paying jobs in capital goods, let’s define capital goods and what they’re used for. What is the purpose of this business? Is there any chance of getting a job? What is the demand like, what is the compensation range like, and so on?
Capital goods are goods that are acquired and employed by businesses to manufacture consumer products or offer services. Large corporations purchase capital goods to employ them in the production of customized products that are then offered on the market. A variety of firms around the country offers capital products, with the following being a few of the more well-known:
- Union Pacific
- Northrop Grumman
- General Electric
- Honeywell International
- Lockheed Martin
- United Rentals Inc.
And there is a slew of well-known companies that hire tens of thousands of people each year. You may be employed by any of these well-known companies.
What Are Some Examples of Capital Goods?
Capital goods, in general, are physical objects that corporations make to convert into consumer goods. A product’s classification as consumer or capital goods can vary depending on several aspects, including quantity, end-user, customers, and needed investments. To help clarify matters, below are some instances of capital goods:
- Textile- that includes cotton, wool, and nylon.
- Chemicals- include oils, minerals, natural gases, and so on.
- Automotive includes components for bikes, cars, trucks, and other vehicles.
- Electronics- semiconductors, industrial, telecommunications, and consumer electronic components.
Is Capital Goods a Good Career Path?
It’s critical to think twice before leaping to a conclusion, especially for making the most crucial job decision in your life. Will it be the option to work in the finance business, if you ask? A resounding “yes” is the answer.
The capital goods business will reward you in surprising ways as long as you are interested and want to study this area in your manner and are thinking about creating a career here.
One of the key reasons individuals like capital goods occupations are that they are very varied and provide a wide range of career options and numerous prospects for advancement. Jobs in capital goods pay well, and while your day-to-day work may be challenging, you will gain a wide range of skills that will be valuable in the future while working in a variety of sectors.
If you’re interested in math, science, and technology, and you enjoy working with machinery and engineering, the capital goods business is a great place to start.
15 Best-paying Jobs in Capital Goods | 2022
You’re in luck if you’re seeking the best-paying jobs in capital goods. Depending on your talents and expertise, there are a variety of excellent possibilities.
Project management is one of the best-paying jobs in capital goods. The development and implementation of capital goods projects are overseen by project managers. They collaborate closely with engineers and other team members to accomplish projects on schedule and budget.
Project managers’ salaries vary based on the size and breadth of the projects they oversee, but they usually earn between $75,000 and $100,000 per year.
Engineers, sales agents, and marketing managers are among the other best-paying jobs in the capital goods business. Engineers often make between $80,000 and $90,000 per year, whereas salespeople might make between $50,000 and $100,000 per year. Marketing managers make between $70,000 and $90,000 per year on average.
These are some of the top possibilities to explore if you’re searching for the best-paying job in the capital goods market. You may obtain a wonderful career that will help you to prosper if you have experience and the necessary talents.
#1. Engineering Manager
Engineering managers are in charge of planning, directing, and coordinating a company’s engineering activities. They usually hold a bachelor’s degree in engineering and have worked in the profession for several years. The average annual income for engineering managers is $103,000.
#2. Manufacturing Engineer
Production engineers are in charge of planning and managing a product’s manufacturing process. They usually hold a bachelor’s degree in engineering and have worked in the profession for several years. The average annual income for manufacturing engineers is $82,000.
#3. Senior Mechanical Engineer
Senior mechanical engineers are in charge of planning and supervising product production processes. They usually hold a bachelor’s degree in engineering and have worked in the profession for several years. The average annual compensation for senior mechanical engineers is $92,000.
#4. Electrical Engineer
Electrical engineers are to develop and supervising a company’s electrical systems. They usually hold a bachelor’s degree in engineering and have worked in the profession for several years. The average annual income for electrical engineers is $84,000.
#5. Quality Control Manager
Managers in charge of quality control are to ensure that goods fulfill the company’s quality requirements. They usually have a bachelor’s degree in engineering or a similar discipline and have worked in the field for several years. The average annual compensation for quality control managers is $88,000.
#6. Industrial Designer
Industrial designers are in charge of product development. They usually have an industrial design degree and several years of experience in the industry. The average annual income for industrial designers is $74,000.
#7. Research and Development Manager
Research and development managers are to plan, leading, and coordinating a company’s research and development efforts. They usually have a bachelor’s degree in engineering or a similar discipline and have worked in the field for several years. The average income for research and development managers is $115,000 per year.
#8. Sales Engineer
The job of a sales engineer is to market things to customers. They usually have a bachelor’s degree in engineering or a similar discipline and have worked in the field for several years. The average annual compensation for sales engineers is $87,000.
#9. Marketing Manager
Marketing managers are to plan, direct, and coordinate a company’s marketing efforts. They usually have a bachelor’s degree in marketing or a similar discipline, as well as several years of experience. The average annual income for marketing managers is $97,000.
#10. Business Development Manager
Business development managers are to plan, leading, and coordinating a company’s business development efforts. They usually have a bachelor’s degree in business or a similar subject, as well as several years of experience. The average annual income for business development managers is $96,000.
#11. Computer-Aided Design Technicians
Responsible for using CAD software to develop and manufacture items, with an annual salary of roughly $50,000.
#12. Robotics Engineer:
Is responsible for designing automation tools and electromechanical robots pay around $95,000 per year.
#13. Manufacturing Manager:
Has a high annual salary of $100,000, with responsibilities centered on equipment layout and process flow.
#14. Director of Manufacturing:
Ranks as first on our list, with an average annual salary of almost $200,000, and these experts’ tasks include employing, supervising, managing, enforcing factory safety requirements, and so on…
#15. Warehouse Worker:
A person whose duties include stocking items, packaging, placing orders, preparing orders for delivery, and a variety of other minor and large jobs. A job that is full of hustling and hard labor, but the role of a warehouse worker is fairly intriguing, even adventurous, and it is certainly preferable to sitting in a chair from 9 to 5 looking at a computer screen. The average wage for a warehouse worker is $33,800 per year, which is a decent wage.
Frequently Asked Questions
A bachelor’s degree in engineering and many years of experience in the area is often required for the top paid employment in capital goods. Manufacturing engineers, senior mechanical engineers, electrical engineers, quality control managers, and industrial designers are among the industry’s highest-paid workers.
A bachelor’s degree in engineering and several years of experience in the sector are the best ways to gain a position in the capital goods market. There are, however, a variety of different methods to enter this area. Begin by looking for internships or entry-level work in the field. You might also seek positions in similar industries, like sales, marketing, or business development.
The capital goods business has a promising future. With the global economy’s continuous expansion, the demand for capital goods is likely to rise. This implies that people with the necessary abilities and expertise will have lots of chances. So, if you’re seeking a well-paying career in this field, now is the time to start looking.
So, if you’re looking for the best-paying jobs in capital goods, you’re in luck. Depending on your talents and expertise, there are a variety of excellent possibilities. Consider studying more about command economy ideas if you want to have an even greater influence in this industry. You may be on your way to a better career in the capital goods market with the correct training and certifications. Thank you for taking the time to read this!