Top 10 Highest-Paying Capital Goods Jobs
Are you looking for a high-paying job in the capital goods industry? You should think about working in the capital goods industry. Capital goods are long-lasting items used by manufacturers in the creation of goods and services. Tools, vehicles, machinery, and equipment are examples of them. The capital goods industry includes a diverse range of departments and roles that may accommodate new hires, and recent studies show that workers in the capital goods sector earn greater salaries than workers in other industries.
All of these jobs demand at least an Associate’s degree, with some even requiring a bachelor’s degree and years of work experience. Depending on experience and whether or not extra qualification is required, these occupations can pay anywhere from $50,000 to $90,000.
What are the best-paying occupations in the capital goods industry? Capital goods are items that are purchased and sold in order to create value. These capital items include, among other things, compressors, generators, and forklifts. Consumer products have a shorter lifespan than capital items. Before becoming obsolete, these capital goods are expected to last five to seven years.
The typical annual wage in the capital goods industry ranges from $40,000 to $100,000 from the moment you start working until you retire. As a result, some people may find it difficult to find the best-paid positions in capital goods, while others may not.
What Are Capital Goods?
Capital goods are products that are utilised in the manufacturing of other products but are not included in the new product. Machine tools, industrial machinery, process plant equipment, construction & mining equipment, electrical equipment, textile machinery, printing & packaging machinery, and so on are examples of this type of equipment. The capital goods business is a relatively unknown and underappreciated source of employment. In truth, the sector employs only approximately 5% of the workforce in the United States. Capital goods workers, on the other hand, make up for it in terms of demand and pay.
This industry has the best-paying jobs in capital goods, and here’s why: Working for a major, publicly traded corporation with a global presence can be difficult. Managers face competition from other departments, lower production costs, and other reasons that could jeopardise their careers. Recent college graduates are eager to obtain experience and prove their worth frequently fill entry-level roles.
Training, fair remuneration and benefits, as well as a competitive work environment, will be provided by companies eager to improve their reputations. Production facilities, as well as purchasing, shipping, and other administrative duties, are overseen by operations managers. These supervisors are in charge of the production personnel who manage raw supplies, make finished goods, and conduct final product checks before distributing them to customers or manufacturers. They are in charge of the company’s capital goods business on a day-to-day basis, as well as staying on top of industry trends and technological advancements in order to stay ahead of the competition.
Physical assets purchased for use in the creation of products or services are known as capital goods. They might be anything that is used to create other goods or services. Manufacturing systems or services are common uses for capital goods. Physical assets are the major production variables that ensure the manufacturing process of finished items, as it is difficult to execute a business without a physical location, equipment, tools, or machinery. So, why should you be concerned? I suppose there are some advantages, right? What Are the Advantages of Working in Capital Goods?
Is Capital Goods a Good Career Path in 2022?
Without a doubt! The Capital Goods industry is a great place for young people to develop their skills and stay current while earning a good living. When looking for a job in the Capital Goods market, you have a lot of alternatives. International career opportunities are available at companies like Union Pacific, General Electric, Honeywell International, Lockheed Martin, United Rentals Inc., and Boeing, which offer retirement plans, vision insurance, tuition reimbursement, vacation days, medical insurance, and dental insurance.
The majority of companies in the Capital Goods category are concerned about their employees’ well-being. As a result, Capital Goods is expected to be a good career option for young professionals in 2022. There are numerous perks and benefits (mentioned below), including health and insurance benefits, employee retirement programmes, and well-equipped gyms and fitness training within the companies.
Advantages of Working in Capital Goods
The following are some of the concrete reasons why you should work in the capital goods industry.
Possibilities for advancement
The workforce in this sector has access to a diverse array of professional development opportunities. A worker can move up the production ladder from an entry-level production role to a management position such as a plant operator or a quality control inspector by completing several training programmes and proving their competence.
Opportunities for beginners.
There are a number of roles available in the capital goods industry that do not require any previous work experience. Training received while working is a more useful choice than obtaining certifications or participating in internships. Anyone can improve their long-term prospects by gaining useful education, gaining valuable work experience, and learning valuable skills all at the same time.
Working on a real project.
The production of actual physical items is the focus of this sector of the economy. As a consequence of this, one is able to see the tangible results of their labour, which may be really satisfying. This stands in stark contrast to vocations, which usually produce outcomes that are abstract in nature.
Some Capital Goods Examples
- Cotton, wool, and nylon are examples of machinery steel textiles.
- Oils, minerals, natural gases, and other chemicals are examples.
- Components for bicycles, cars, lorries, and other vehicles are included in the automotive industry.
- Semiconductors, industrial, telecommunications, and consumer electronic components are all examples of electronics.
Capital Goods Industries?
- Aerospace and
What Kinds of Companies Work in the Capital Goods Industry?
Many capital goods corporations have significant market domination not just in the United States, but throughout the world. Thousands of job seekers are frequently recruited into the business by these companies to keep the train running. The following is a list of the top ten international capital goods firms.
1. Union Pacific – Size: 10,000+ employees
2. General Electric – Size: 10,000+ employees
3. Honeywell International – Size: 10,000+ employees
4. Lockheed Martin – Size: 10,000+ employees
5. United Rentals Inc. – Size: 10,000+ employees
6. Boeing – Size: 10,000+ employees
7. Caterpillar Inc. – Size: 10,000+ employees
8. Northrop Grumman – Size: 90,000 employees
9. 3M – Size: 93,000+ employees
10. ABB – Size: 5,001 to 10,000 employees
List of the Highest-Paying Capital Goods Jobs
Engineering managers are among the highest-paid employees in the capital goods sector. An engineering manager’s primary responsibilities include planning, leading, and coordinating engineering activities within a corporation. Start preparing for the minimum criteria if working in capital goods is your desire. Engineers with a bachelor’s degree and several years of expertise in the industry are highly sought after for this role. Among the responsibilities of the engineering manager are:
- Product development, testing, and production processes are designed, implemented, and refined.
- Manages a team of engineers and technicians and assigns them duties.
- Develops innovative products, solutions, and procedures with the help of teams.
- Oversees the logistics of the project and the allocation of resources.
The average Engineering Manager’s salary in the United States is $137,956 as of February 25, 2022,
This is a group of engineers who work in the manufacturing industry and whose primary task is to ensure that the manufacturing process runs smoothly. Manufacturing Engineers must have the following abilities and qualifications:
- Ability to operate effectively under duress.
- Ability to lead.
- Teamwork abilities.
- Possesses problem-solving abilities.
- Skills in information technology.
- Commercial awareness is important.
- Communication abilities are exceptional.
- Equipment knowledge for buying, installation, and repair.
According to Payscale, the average annual compensation for Manufacturing Engineers is $71,980. Working on the manufacturing floor of a capital goods company entails high risks, hard hours, and even the risk of personal injury.
If you’re up for the challenge, you’ll be rewarded with some of the greatest salary and benefits available to engineers, including health insurance (including dental), stock options, and annual bonuses averaging more than $100,000.
For companies in the capital goods market, sales engineers specialise in technologically and scientifically advanced items. Sales engineers utilise their technical knowledge to describe the advantages of their products or services to potential clients and to demonstrate how they are superior to their competitors. The average annual income for sales engineers is $74,250.
For capital goods organisations, marketing managers are in charge of planning, formulating, and executing strategic marketing plans in order to acquire new consumers and maintain existing ones. They usually have a bachelor’s degree in marketing or a similar discipline, as well as several years of experience. As of February 2022, the average Marketing Manager pay in the United States is $109,831.
Inside capital goods companies, marketing managers are in charge of the planning, formulation, and execution of strategic marketing programmes. These initiatives are intended to attract new clients while also retaining existing ones. Marketing managers frequently collaborate with salespeople when setting the pricing of a product for sale on the market.
Training and Development Manager
Training and development managers are in charge of training and developing other employees in a capital goods organisation. This is a vital position since capital goods corporations supply specialised commodities such as manufacturing technologies for the electronics industry or transportation infrastructure for the chemicals industry. The average annual salary is $115,640.
Sales managers are in charge of managing a team of salespeople who are in charge of selling a company’s product. They must have a deep understanding of the production process in order to supply capital goods items. To assess the opportunity cost and marginal cost of things, sales managers need a bachelor’s degree in economics, business, or a technical expertise.
Average Salary per year: $132,290 per year.
A management analyst in a capital goods company suggests ways to improve efficiency. They optimise economic possibilities by reviewing financial records and industrial data to create more efficient production procedures. The average annual salary is $87,660.
Quality Control Manager
To ensure that items meet quality and efficiency criteria, a quality control manager supervises staff and evaluates product development techniques. Customers are also consulted by the quality control manager to verify that the finished items meet their expectations and requirements. The average annual salary is $72,175 dollars.
Customer Service Representative
Customer service representatives are increasingly being used as a precaution against entry-level manufacturing jobs, as well as for support and feedback issues. Depending on the product and sector, customer service representatives may work in customer service departments, sales, or marketing. Most work for a single organisation, although some may assist customers in multiple departments during the purchasing process. The highest-paying jobs in the business are customer service agent, customer service manager, and customer service manager-level positions. The average annual salary is $40,424 dollars.
The manufacturing director collaborates with the executive team on a regular basis. He hires supervisors and managers, as well as setting output goals. He’s also in charge of making sure the factory meets the most stringent safety standards. The average annual salary is $200,000 per year.
Industrial Designer $74,000
An industrial designer’s job is to work with manufacturers to develop innovative goods. Packaging, product designs, and prototypes are all created by industrial designers. Visual communication is a specialty of industrial designers. If you’re interested in working in the field of design, this is the position for you. Manufacturing, retail, construction, and healthcare are all industries that employ industrial designers.
Industrial designers have a lot of imagination. The best aspect is that they get the opportunity to deal with a diverse range of clients, including manufacturers, merchants, and architectural firms. Industrial designers operate in a variety of businesses and settings, including offices, factories, and the outdoors. Capital Goods Jobs with the Best Pay
Electrical Engineer $84,000
Instruments, equipment, appliances, automobiles, and other devices involving electricity are designed by electrical engineers.
To be successful in the field of electrical engineering, you must have a strong grasp of mathematics, particularly calculus and physics. Quality control supervisors, for example, are excellent options for electrical engineers. Electrical engineers are well compensated, with typical annual incomes ranging from $63k to $80k, with some top earners earning over $100k.
Electrical engineers can earn up to $84,000 per year in their careers. For engineering employment, this is a fantastic salary. Electrical engineers work in a variety of industries, including communications, power distribution, robots, semiconductors, and electronics. Computers, power grids, and robotics are examples of electro-mechanical systems that electrical engineers create, troubleshoot, and analyse. Electrical engineers have a wide range of job prospects, as they can work for small businesses or major organisations. Electrical engineers can work in a variety of locations around the world.
Product Development Engineer $82,000
If you are considering a career in product development, you should know that the average salary in this industry is $82,000 a year. Product development engineers collaborate with other members of product development teams to ensure the commercial viability of the goods that their team design and development.
Product development engineers collaborate with the engineering teams and marketing teams to ensure the success of their products. Product development engineers have a wide variety of career options to choose from because they are employable in a variety of business sectors.
Quality Assurance and Control Manager $88,000
Managers of quality assurance and control collaborate with engineering teams to ensure that goods satisfy both the requirements imposed by regulatory agencies and the expectations of customers. To be successful in this role, you will need to pay close attention to detail, possess great communication skills, and come from an analytically minded background. The quality assurance and control manager’s pay might differ significantly from one industry to the next and from one region to another.
Sales Engineer $87,000
It is the job of a sales engineer to ensure that product sales are maximised by carefully adhering to the sales process, carrying out sales analysis, and carefully examining sales data. The ability to pay close attention to detail, strong communication skills, and an entrepreneurial spirit are all prerequisites for becoming a sales engineer. The annual pay of a sales engineer might range anywhere from $87,000 to $120,000, depending on the sector in which they work and the location of their employer.
Business Development Manager $96,000
This is the career for you if you appreciate business development and want to earn $96,000 per year. Business development managers are in charge of spotting new business prospects, developing sales strategies, and putting sales processes in place. Marketing teams work with business development managers to generate marketing strategies and budgets. Depending on the opportunities they identify, business development managers might operate in a variety of industries.
Research and Development Manager $115,000
This is the career for you if you enjoy studying and developing new things. Managers of research and development are in charge of identifying and developing new goods, as well as supervising research and development teams. Managers of research and development work on advanced technologies like aerospace, automotive, medical, and defence. Depending on your location and sector, a research and development manager’s pay might range from $115,000 to $195,000 each year.
Marketing Manager $97,000
This is the career for you if you adore marketing and want to earn $97,000 per year. A marketing manager must be meticulous, possess outstanding communication skills, and be persuasive. Marketing managers collaborate with a variety of departments inside a company, including sales, R&D, and finance. Marketing managers have a wide range of job options, as they can work in a variety of businesses.
Sales Representative – Industrial Equipment & Components
A sales agent for industrial equipment and components sells a variety of products and services to enterprises in the manufacturing, transportation, and utility industries. Salespeople are responsible for finding new clients, developing relationships, and closing sales.
They might also try to expand existing customer connections by exploring new markets for existing items or identifying additional products that clients require.
Research Methodology Manager $132,000
This is the ideal job for you if you appreciate exploring methods and processes and have a good background in statistics. A research methodology manager is in charge of determining the optimal research methodologies, designing experiments and analyses, and analysing experiment outcomes. A research methodology manager can operate in any industry that requires research. Managers of research methods earn between $132,000 and $235,000 per year.
Chief Risk Officer $140,000
It is the responsibility of a company’s chief risk officer to locate and assess any factors that might pose a threat to the profitability of the business. An individual who holds the position of chief risk officer needs to be highly analytical, well organised, and capable of effectively prioritising responsibilities. Risk managers need to be open to working in a variety of fields, including the healthcare industry, the technology sector, and the energy sector. There is a wide range of salary options available for chief risk officers, from $140,000 to $185,000.
Supply Chain Manager $120,000
If you are someone who takes pleasure in the management of supply chains, then this is the ideal position for you. A person who manages the supply chain needs to be skilled in people management, have outstanding communication skills, and be able to analyse data effectively. Supply chain managers are employed in a wide variety of industries, including manufacturing, retail, and transportation, among others. There is a wide range of salary options available for supply chain managers, from $120,000 to $200,000.
Director of Finance $100,000
If you have an interest in the business of finance, then this position is ideal for someone with your background. A director of finance needs to be able to manage projects effectively, have exceptional communication skills, and have excellent analytical abilities. A director of finance can be found in every industry, from the medical field to the technological world to the manufacturing sector. The compensation of a director of finance can range anywhere from $100,000 to $200,000, depending on the sector in which they work and the location of their employer.
Civil engineers are responsible for the design, planning, and management of a wide variety of construction projects from the very beginning to the very end.
Working for manufacturing enterprises in the transportation equipment and capital goods industries often results in an annual salary of $67,000 for civil engineers.
Industrial engineers, who are also often known as mechanical engineers or simply mechanicals in industry, are in charge of creating and developing various manufacturing processes.
Technically, they design and manage industrial machines like heat exchangers and sophisticated electrical systems. From a commercial aspect, they frequently serve as liaisons between workers and management; if a piece of equipment isn’t performing to its full potential or is producing issues such as downtime, an industrial engineer will create a new method to address the problem.
Mechanical Engineer $92,000
Businesses that manufacture equipment, tools, and instruments used to create or distribute other commodities are part of the capital goods industry.
Many of these machines are designed by mechanical engineers. Engineer, research and development manager, production engineer, business development manager, and so on are some of the other job titles. The majority of these individuals work for private enterprises, including large manufacturers such as Boeing and Raytheon, and they all have bachelor’s degrees.
Mechanical engineers might earn anywhere from $92,000 to $124,000 depending on where they work and what industry they work in. Mining, oil and gas, manufacturing, and renewable energy are among industries where mechanical engineers can work.
There is also government employment in mechanical engineering that pay up to $124,000 per year. Mechanical engineers have a wide range of job prospects because they can work in a variety of fields.
Chemical engineers are responsible for the development of production processes as well as the design of the equipment used in chemical processing.
They collaborate with other engineers to develop a process, such as a power plant or a facility for the purification of water, that can transform raw materials into products that may be used. They also do research to ensure that their solutions are risk-free and environmentally friendly. The majority of entry-level positions in the field of chemical engineering require a bachelor’s degree.
Certification and a bachelor’s degree are typically required for anyone seeking a position as a maintenance engineer. They bring in an annual income that ranges from $61,980 to $71,000 on average, with an average compensation of $71,000.
However, you can typically become a maintenance engineer through an apprenticeship if you have prior engineering or technical experience. Maintenance engineers are critical to a company’s success because they ensure that costly production equipment runs smoothly. If something goes wrong, these people know how to find it and fix it so that business may keep running smoothly.
Sales Representative – Computer Software
The base compensation for the position of Sales Representative ranges from $97,000 to $101,779 on average, with a median base salary of $101,000. The average annual salary for an engineering manager is roughly $172,931, the average annual salary for a marketing manager is approximately $150,709, and the average annual salary for a sales engineer is approximately $124,210.
Capital goods are a big element of every economy, and there are a lot of wonderful jobs in capital goods. Of course, just because you’re aware of these opportunities doesn’t guarantee you’ll have an easy time finding one; employers aren’t exactly lining up to hire recent graduates. That is why education is so important. Always attempt to learn new things; there’s a wealth of useful material out there, and if you can combine it with relevant work experience, you’ll be well on your way to success. Start your career right away with one of these top ten highest-paying occupations!
How to Become a Capital Goods Employee
Are you ready to start working in the best-paying capital goods jobs? The first thing you should do is look for work. Your local employment office is the best place to start. Because capital goods is a small industry, there may be one in your town. The best method to locate them is to look up “Manufacturing” in the yellow pages. You’ll need a knack for numbers and a motivation to study if you want to work in manufacturing.
Some high-end manufacturing jobs require a college diploma, so if you’re not sure if going to college is right for you, you should think about it. There are several on-line degree programmes that provide a decent introduction to manufacturing if you’re not sure if a college degree is suited for you or if you’d prefer study on your own. The best online manufacturing degree programmes are listed by U.S. News & World Report.
For people looking for work in the capital goods industry, here are some pointers.
- Employees in the capital goods industry typically start out quietly and work their way up the manufacturing chain. Management and senior staff personnel frequently earn more than production workers, and purchasing managers frequently earn more.
- Employees in the capital goods industry are hired at various levels of the company and have little or no access to senior management.
- Work is frequently flexible, but it isn’t a career switch. Even if you have complete control over your schedule, most jobs require extensive on-the-job training.
- Some industries offer good benefits, while others do not. Make sure you know what’s available and what you’re expected to do.
- You should expect to work weekends and holidays.
- Employees in the capital goods industry are accountable for a wide range of responsibilities. You may not be skilled in a specific area, but most jobs demand practical experience.
FAQs On Capital Goods
What are some of the most often asked questions about capital goods? Let’s see what happens!
Is Capital Goods a Good Career Path?
Capital Goods is a viable career option. The capital goods industry is a large portion of the economy that employs graduates in a range of fields. By designing and building the equipment that underpins modern economies – from aeroplanes to vehicles to power plants and much more – you may help people do their jobs better and play a part in making the world go round.
What are Capital Goods Examples?
Electronics, machinery, chemicals, steel, textiles, and automobiles are some examples of capital goods by category.
Do Capital Goods Jobs Pay?
Yes, You can make $50,000 to $90,000 per year depending on your educational qualifications, talents, and experience. According to Salary.com, an Engineering Manager in the United States earns between $123,330 and $155,054 each year.
What Do Capital Goods Jobs Pay?
Working in the capital goods industry has a number of advantages, some of which are listed below:
- Retirement plans
- Vision insurance
- Tuition reimbursement
- Vacation days
- Medical insurance
- Dental insurance
Here’s a heads up if you’re curious about the average yearly wage paid in the capital goods industry…
- Computer-Aided Design Technicians: $65,000 per year.
- Robotics Engineer salary: $107,000. per year.
- Manufacturing Engineer: $71,980 per year
- Director of Manufacturing: $123,000 per year.
- Electrical Engineers salary: $78,016 per year.
- Business Development Manager salary: $75,544 per year.
- Marketing Manager salary: $109,831 per year
- Sales Engineers salary: $74,250 per year
- Engineering Manager salary: $137,956 per year
- Research and Development Manager salary: $144,880 per year
In the realm of capital goods, there are many different types of jobs to choose from. To work in this sector, you must have at least a bachelor’s degree in business administration and, most importantly, a passion for producing and designing things. You do not, however, have to go it alone. Many businesses engage people with a wide range of skills to assist them in making their products successful on the market.
You must be creative, driven, and able to work in a team atmosphere if you want to work in capital goods. Once you’ve discovered the appropriate work for you, you must be willing to put in the necessary hours and make financial sacrifices to keep it. You can expect to work in an office setting, a firm plant, or in the field, depending on the sector you choose to work in. It’s crucial to remember, though, that the highest-paying professions in capital goods necessitate extensive training, which is typically supplied by your business. Capital Goods Jobs with the Highest Pay
Capital Goods Jobs is one of the most rapidly expanding employment sites available. It’s a job board that focuses on locating competent candidates for a variety of manufacturing-related jobs. It is a decent profession to pursue in the twenty-first century. I hope you found this post to be informative. Please sign up for our email newsletter to receive more information like this.