Best paying Jobs In Capital Goods: Highest Paying Careers Capital goods are the man-made machines, buildings, and other manufacturing infrastructure needed to make the things you use in everyday life. Jobs in the capital goods industry ensure that these components of the production process are available so manufacturers can meet consumer demand. There are many roles in this process, including the highest-paying jobs in capital goods.
Capital goods careers offer competitive salaries for specialized technical skills, whether you end up optimizing production processes in the garment industry or designing machines that make components for automobiles. In this article, we’ll share capital goods wages, job market prospects, and the education required to land the highest-paying jobs in capital goods.
What Do Capital Goods Jobs pay?
Capital goods careers have high hourly wages, and even entry-level positions pay well above minimum wage. Depending on your education and experience, you can earn more than $100,000 per year. According to the US Bureau of Labor Statistics, electronics engineers earn a median salary of $107,540.
Capital Goods Jobs Outlook
The United States is a major supplier of capital goods. According to the BLS, export prices for US capital goods rose 3.7 percent in 2021, showing increased demand. The job growth outlook for capital goods jobs ranges from four to 22 percent over the next decade, meaning most capital goods careers are adding many new jobs.
Capital Goods Jobs Satisfaction
Jobs in the capital goods industry offer many benefits, compensation, and job security. Workers are generally satisfied with capital goods careers. For example, workers at General Electric (GE), one of the largest companies in the capital goods industry, rated their satisfaction four out of five stars, and 80 percent would recommend working for GE to a friend.
Capital Goods Salaries: Lucrative Capital Careers
|Capital Goods Careers||Capital Goods Salaries||Job Outlook||Minimum Education|
|Engineering Manager||$149,530||4%||Bachelor’s Degree in Engineering|
|Marketing Manager||$141,490||10%||Bachelor’s Degree in Marketing or Advertising|
|Sales Manager||$132,290||7%||Bachelor’s degree|
|Training and Development Manager||$115,640||11%||Bachelor’s or master’s degree|
|Software Developers||$110,140||22%||Bachelor’s Degree in Computer Science|
|Electrical Engineers||$103,390||7%||Bachelor’s Degree in Electrical Engineering|
|Mechanical Engineer||$90,160||7%||Bachelor’s Degree in Mechanical Engineering|
|Industrial Engineer||$88,950||14%||Bachelor’s Degree in Engineering|
|Management Analyst||$87,660||14%||Bachelor’s Degree in Business or Engineering|
|Quality Control Inspector||$40,460||-12%||High school diploma or GED|
Best Paying Jobs in Capital Goods: In Detail
Engineering managers coordinate, direct, and plan engineering projects in a capital goods company. An engineering manager must have a bachelor’s degree in engineering with years of work experience. This role also includes making plans to improve the company’s engineering department.
Average Salary – $ 149,530
A marketing manager gets buyers interested in the company’s products. A marketing manager in a capital goods company must understand the special requirements of the industry in which he works. Marketing managers work with sales representatives and help determine the market price of the product.
Average Salary: $ 141,490
Sales managers lead a team of sales representatives to sell a company’s product. They need a deep understanding of the capital goods production process in order to sell capital goods products. Sales managers assess the opportunity cost and marginal cost of products and need a bachelor’s degree in economics, business, or a technical field.
Average Salary: $ 132,290
Training And Development Manager
Training and development managers are responsible for training and developing other employees in a capital goods company. This is an important role because capital goods companies sell niche products like manufacturing technology for the electronics industry or shipping infrastructure for the chemical industry.
Average Salary: $ 115,640
Capital goods companies rely on technology jobs, such as software developers, to function effectively. Software developers in the capital goods industry create applications and computer programs that make the business run more efficiently. Although they are not directly involved in the factors of production, they help companies in the capital goods sector to remain profitable.
Average Salary: 110,140
Electrical engineers design and manufacture all electrical infrastructure to meet the special requirements of capital goods production facilities. They also design and create the electrical components of the equipment used in the production process, as well as the maintenance of all this custom-made equipment.
Average salary: $ 103,390
Average salary: $90,160
A mechanical engineer design develops and tests the machines needed in the manufacture of capital goods. Mechanical engineers ensure that the production process for their machines meets industry standards or customer specifications. The technical services provided by mechanical engineers are of the utmost importance in the capital goods sector.
Average Salary: $ 88,950
Industrial engineers in the capital goods sector ensure that the machinery used in the production process is in good working order. In addition to machinery maintenance, they also design workflow in a manufacturing space to streamline processes and maximize productivity.
A management analyst suggests ways to improve efficiency at a capital goods company. They optimize economic opportunities by analyzing financial reports and manufacturing data to design more efficient production processes.
Average Salary: $87,660
Quality Control Inspector
Average salary: $40,460
A quality control manager inspects and examines shipments of capital goods products for defects. They also make sure that the products meet government standards. Quality control inspectors provide critical technical services to capital goods companies to ensure that the production process produces high-quality products.
Resources To Find The best paying jobs in Capital Goods
Online job boards: Online job boards are an extraordinary spot to search for capital products jobs. You can look for open jobs by company, job title, and area, and that’s only the tip of the iceberg.
Company websites: When you make a rundown of capital merchandise organizations you need to work for, check the career page on their authority site regularly to see recently posted jobs.
Internships: Apply for an internship in a capital merchandise company. Most organizations like to enlist assistants for full-time positions assuming that they perform well in their internship.
College career centers: Most colleges have career centers to assist you with getting a new line of work after graduation. In the event that you are still in college or are a new alumnus, see what career benefits your school offers.
Professional organization: Join a professional organization for your field to coordinate with different callings and keep awake to date on the ongoing work market for your calling. Professional organizations typically have a job board as well.
IS Capital Goods a Good Career Path?
The capital merchandise area is an extraordinary industry to work in. Capital merchandise occupations offer serious wages and fascinating day-to-day undertakings. A significant number of these positions are unionized and accompanied by extraordinary advantages and admittance to association assets.
Before you jump into the capital merchandise market, ensure you have the energy for the gig. The capital merchandise industry has some expertise in assembling and development, which can be actual positions relying upon your vocation.
Best Paying Jobs In Capital Good FAQ ( Frequently Ask Questions)
What commodities are referred to as capital goods?
Instances of capital products are structures, hardware, and vehicles used to deliver shopper merchandise. Different kinds of capital merchandise incorporate devices, gadgets, and figuring innovation, among others. You, as a singular shopper, don’t buy capital merchandise. Fabricating organizations like Walmart purchase capital merchandise to make shopper items.
Can I earn more than $100,000 per year working in capital goods?
Indeed, you can procure more than $100,000 each year working in the capital products area. Directors, programming designers, and a few specialists make more than $100,000 yearly. Section-level situations at capital merchandise organizations might offer a lower level of wages, yet as you acquire the experience you can procure higher wages.
What are the top companies in the capital goods industry?
According to no doubt, likely the greatest capital product associations integrate Affiliation Pacific, General Electric, Honeywell Worldwide, Lockheed Martin, and Joined Rentals Inc. These associations offer relentless wages, extraordinary retirement plans, and various benefits. Other capital items associations integrate Boeing, Caterpillar Inc., 3M, Capital Extraordinary Resource, and ABB Limited.
Can I get a tech job in the capital goods industry?
Indeed, capital merchandise organizations additionally enlist tech specialists like programming engineers. As assembling turns out to be increasingly mechanized, there will be more tech occupations in the capital merchandise area. Tech occupations are serious, and you can help your possibilities find a new line of work in a capital products tech division by going to a coding Bootcamp.
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