In this article, we’ll be looking into what capital goods jobs is all about as well as the various best paying capital goods jobs and then an insight on the pay structure for various capital goods industry. Read on to know more.
To start with, let’s see what capital goods is all about.
What are Capital Goods
Capital Goods are durable goods that manufacturing companies used in the production of other goods. These durable tools include machinery tools, electrical equipment, vehicles and so on.
The capital goods industry has wide range of job opportunities that are open for interested persons. A recent study shows that the average salary for workers in the capital goods sector is higher than the average of other sectors.
Examples 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
Industries Under Capital Goods?
Energy, Mining and Utility industry
Aerospace and Defense Industry
So you’re interested in a capital goods job, the above industry are where to search for one.
There are numerous job opportunities available depending on your skills, talent, experience, and expertise.
Below are few known international companies in the capital goods sector:
Union Pacific – Size: 10,000+ employees
General Electric – Size: 10,000+ employees
Honeywell International – Size: 10,000+ employees
Lockheed Martin – Size: 10,000+ employees
United Rentals Inc. – Size: 10,000+ employees
Boeing – Size: 10,000+ employees
Caterpillar Inc. – Size: 10,000+ employees
Northrop Grumman – Size: 90,000 employees
3M – Size: 93,000+ employees
ABB – Size: 5,001 to 10,000 employees
What do Capital Goods Jobs Pay?
Capital goods jobs pay up to $200k per year depending on the job position
Capital Goods job pay is quite good. There are also numerous benefits attached to working in the capital goods industry, some of it include:
Below are he average salaries of some capital goods jobs:
Computer-Aided Design Technicians: $65,000 per year.
Robotics Engineer salary: $107,000. per year.
Manufacturing Engineer: $71,980 per year
Electrical Engineers salary: $78,016 per year.
Business Development Manager salary: $75,544 per year.
Marketing Manager salary: $109,831 per year
Engineering Manager salary: $137,956 per year
Research and Development Manager salary: $144,880 per year
For one to gain more influence in the capital goods industry, one must consider enrolling and studying more about the main areas in the industry.
Best paying capital Goods Jobs
There are numerous best paying jobs in the capital goods sector. However, a bachelor’s degree certificate and some level of experience is required of anybody interested in working in the capital goods sector.
Below is a list of the Best Paying capital Goods Jobs:
1. Engineering Managers
Engineering managers are one of the high paying jobs in the capital goods industry. An engineering manager’s work is to coordinate and organize engineering activities in a company.
This jobposition is reserved for individuals with degrees in the engineering field and with several years of experience.
Here are the responsibilities of engineering Managers:
Designs, implements, and refines product development, testing, and manufacturing processes.
Manages staff and assigns tasks to engineering and technical personnel.
Leads teams in the development of new products, solutions, and processes.
Oversees project logistics and resource allocation.
Engineering Managers earns up to $137,956 per year in the united States.
2. Manufacturing Engineer
Engineers are often needed in the manufacturing industry to aid smooth production of goods. Manufacturing engineers has must have the ability to work under pressure and must be knowledgeable in managing, installation and repairing of equipments. Other necessary skills are good communication skills, problem solving skills, good IT skills, and so on.
According to payscale, the Average salary of Manufacturing Engineers is $71,980 per year.
4. Electrical Engineer
An Electrical engineer’s work is to design, develop, test, and supervising the manufacture of electrical equipment, such as radar, electric motors, navigation systems, communications systems, and power generation equipment.
They also design electrical systems for automobiles and aircraft. According to payscale, Electrical engineers earn an average salary of $78,016 per year but can go as high as over $200k per year.
5. Quality Control Manager
A quality control manager supervise staffs and oversee products development process and ensure it meets up with the quality standards.
The quality control manager also works with clients to ensure the end products meet their needs and requirements. A quality control manager in the united states earns around $72,175 per year.
6. Industrial Designer
Industrial designers develop concepts for manufacturing products such as cara, toys, home appliances and so on. The work involves the combination of art, and Engineering to make the products aesthetically appealing to customers.
A degree in industrial design and several years of experience in the same field is required of anybody interested in working in this field.
According to Payscale, industrial designers earn an average of $60,832 per year. Indeed also says industrial designers pay is around $68,653 per year in the US.
This is another high paying capital goods job. Research and development manager main responsibility is to manage and direct researches and development programs to meet organization standards and implement research and development procedures and techniques.
Salary range is between $126,187 and $166,452. According to Salary.com, Research and Development Manager earns around $144,880 in the united States.
9. Marketing Manager
A Marketing Manager’s work is to develop, implement and execute strategic marketing plans for capital goods companies to attract customers and retain existing ones.
An individual interested in working in this field must have a degree in marketing or any related field.
Marketing manager’s salary is around $109,831 per year.
10. Business Development Manager
A Business development managers’ responsibility is to plan, direct, and coordinate business development activities in a typical capital goods company.
Other Responsibilities include:
Developing plans for business and revenue growth.
Researching, planning, and implementing new target market initiatives.
Researching on prospective accounts in target markets.
Pursuing leads and moving them through the sales cycle.
There are many job opportunities available in the capital goods sector which includes: International Companies such as General Electric, Union Pacific, Honeywell International, Lockheed Martin, United Rentals Inc., Boeing and many others offer good pay for there capital goods jobs as well as other benefits that include retirement plans, medical insurance, vision insurance, tuition reimbursement, vacation days, medical insurance, and dental insurance.
I’m pretty sure that this article on What Do Capital Goods Jobs Pay answered your question. If you’ve any related question, do well to drop in the comment section below.