Capital items are the machinery, buildings and other manufactured infrastructure required to create the products that you utilize in your daily life. Employment opportunities in the industry of capital goods ensure that these elements of the manufacturing process are readily available to manufacturers so that they can satisfy consumer demand. There are various jobs in these processes, which includes the most lucrative job opportunities in manufacturing capital products.
Careers in capital goods offer high wages for those with specialized technical skills, regardless of whether you are able to streamline manufacturing processes in the clothing manufacturing industry or developing machines that produce components for cars. We’ll discuss the salaries for capital goods, future job prospects and the educational requirements to be able to find the highest-paying work in manufacturing capital products.
What Do Capital Goods Jobs Pay?
Careers in capital goods have high hourly pay even entry-level positions pay much more than the minimum salary. Depending on your educational level and work experience and education, you can make more than 100,000 dollars per year. As per the US Bureau of Labor Statistics Electronics engineer earns a median wage of $107,540.
Capital Goods Job Outlook
The United States is a major producer for capital items. According to BLS the prices of exports of US capital goods increased 3.7 per cent in 2021, which indicates an increase in demand. The growth rate for jobs in capital goods ranges between 4 and 22 percent over the course of the next decade, which means it is likely that the vast majority of careers in capital goods are providing plenty of jobs.
Capital Goods Job Satisfaction
The jobs in the industry of capital goods offer many benefits, such as compensation, and job security. Employees are generally satisfied with their capital jobs in the field of capital goods. For instance, workers working at General Electric (GE), one of the largest companies in the sector of capital goods have rated their satisfaction at four out five stars. 80 percent of them would recommend working at 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% | Master’s or bachelor’s degrees |
| 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% | Diploma from high school or GED |
Best-Paying Jobs in Capital Goods: In Detail
Engineering Manager
- Average Salary: $149,530
Engineering managers oversee, coordinate and plan engineering projects in the capital goods industry. Engineering managers must possess the degree of an undergraduate in engineering and have many years’ work experience. The role also involves making plans to enhance the engineering department within the company.
Marketing Manager
- Average Salary: $141,490
Marketing managers are responsible for making buyers more interested in the company’s offerings. A marketing manager in an enterprise that sells capital goods must be aware of the specific demands of the particular industry that they work in. Market managers work alongside sales reps to determine the price at which the market will value the product.
Sales Manager
- Average Salary: $132,290
Sales managers manage an entire team of sales reps to promote a product. They must have a solid knowledge of the manufacturing process for capital products in order to promote capital goods. Sales managers analyze the opportunity price and the marginal value of product, and need the degree of a Bachelor’s in Economics or Business area.
Training and Development Manager
- Average Salary: $115,640
Managers of training and development are accountable to train and develop other employees in the capital goods industry. This is crucial because capital goods companies market specific products such as manufacturing technology for electronics industry, or the transportation infrastructure for the chemicals industry.
Software Developer
- Average Salary: $110,140
Capital goods companies depend on technical jobs, like software developers, to operate efficiently. Developers of software in the capital goods sector develop computer applications and programs which help companies operate more effectively. Although they are not directly involved in production processes however, they assist companies in the capital good industry remain profitable.
Electrical Engineer
- Average Salary: $103,390
The electrical engineers create and build the electrical infrastructure necessary to meet the specific needs of capital goods manufacturing facilities. Additionally, they design and construct electrical components for equipment that are utilized in the manufacturing process, and maintain the custom-built equipment.
Mechanical Engineer
- Average Salary: $90,160
Mechanical engineers design creates, develops, and test machines that are required in the production of capital products. Mechanical engineers ensure that the process of production for their machines conforms to the standards of industry or client specifications. The technical services offered by Mechanical engineers are crucial in the capital good industry.
Industrial Engineer
- Average Salary: $88,950
Industrial Engineers in the capital goods industry ensure that the equipment utilized in the manufacturing processes is in top working order. In addition to the maintenance of machinery, they also create the process in the manufacturing area to streamline processes and boost efficiency.
Management Analyst
- Average Salary: $87,660
A management analyst offers suggestions to increase efficiency in the capital goods industry. They maximize economic opportunities by analysing manufacturing and financial reports to develop more efficient manufacturing procedures.
Quality Control Inspector
- Average Salary: $40,460
A quality control manager checks and inspects products shipments of capital goods for any imperfections. They also ensure that the products conform to requirements of the government. Quality control inspectors offer crucial technical assistance for capital goods companies to ensure that their production process is producing top-quality products.
Resources to Find the Best-Paying Jobs in Capital Goods
- Job boards on the internet:Online job boards are an excellent place to search for jobs in capital goods. You can look for jobs by the company and name of the position, location as well as other criteria.
- Websites of companies: Once you create an inventory of companies that manufacture capital goods you wish to work for, be sure to visit the careers page on their official website regularly to find new job openings.
- The internship job:Apply to be an intern in the capital goods industry. The majority of companies prefer to hire interns to fill full-time positions when they do well in their work.
- Career centers at colleges:Most colleges have career centers that can help you find jobs after you graduate. In case there is a chance that you are in college in college or are recently graduated check out the career opportunities your college offers.
- Professional organisation:Join a professional organization that relates to your field of expertise. You can network with other professionals and keep up to date on the current job market for your particular field. Professional organizations generally also have a jobboard.
Is Capital Goods a Good Career Path?
The capital goods industry is an ideal field that you can work in. The jobs in capital goods offer attractive wages and exciting routine tasks. The majority are the jobs are unionized and provide excellent benefits and the ability to access union-related resources.
Before stepping into the market for capital goods be sure that you have enthusiasm for the work. The capital goods industry is specialized in construction and manufacturing and construction, which can involve physical tasks, depending on the career you choose to pursue.
Best Paying Jobs in Capital Goods FAQ
What are the commodities that are classified as capital goods?
Examples of capital products are machines, buildings, and vehicles that are used to manufacture consumer items. Other kinds of capital goods include equipment electronic equipment, computers, and technology and many more. As a consumer, shouldn’t purchase capital items. Manufacturing companies such as Walmart purchase capital goods in order for the production of consumer goods.
Can I make more than $100,000 a year working in capital items?
Yes You can get more than $100,000 annually when you work in the capital goods industry. Directors, developers of software and some engineers earn more than $100,000 a year. The entry-level positions in capital goods firms may offer an lower amount of compensation, however, as you progress in your career you can make more money.
Which are the top firms in the capital good sector?
Based on Indeed’s research, the largest companies in capital goods comprise Union Pacific, General Electric, Honeywell International, Lockheed Martin as well as United Rentals Inc. These firms offer decent wages, competitive retirement plans, as well as other benefits. Other companies that offer capital goods comprise Boeing, Caterpillar Inc., 3M, Capital Good Fund along with ABB Limited.
Do I have the chance to get an engineering job in capital goods sector?
Yes, companies in the capital goods industry are also able to hire tech experts, such as software developers. As manufacturing gets more automated and automated, there will be a rise in tech work in the capital goods industry. Tech jobs are very competitive and you can increase your chances of securing an opportunity in the capital goods department by taking a bootcamp in coding.