Table of Contents Show
- What are Capital Goods?
- Examples of Capital Goods
- Best-Paying Jobs in Capital Goods
- #1. Engineering Managers
- #2. Best-Paying Jobs in Capital Goods: Manufacturing Engineer
- #3. Best-Paying Jobs in Capital Goods: Senior Mechanical Engineer
- #4. Electrical Engineer
- #5. General Manager
- #6. Quality Control Manager
- #7. Industrial Designer in Capital Goods
- #8. Research and Development Manager
- #9. Sales Engineer
- #10. Marketing Manager
- #11. The Business Development Manager
- #12. Robotics Engineer in Capital Goods
- #13. Part Assembler in Capital Goods
- #14. Category Manager Capital Expenditures
- #15. Global Strategic Product Manager
- List of Industries in Capital Goods
- List of International Companies in Capital Goods
- The Pros and Cons of Working in the Capital Goods Industry
Therefore, in the world of business, capital goods are long-lasting items used by manufacturers to produce goods and services. These include tools, vehicles, machinery, and equipment.
So, in this article, you’ll find the best-paying jobs in capital goods, examples of capital goods, industries, and top companies in capital goods.
What are Capital Goods?
Capital goods are tangible items that a company uses in the production process to manufacture products and deliver services to clients.
They also include equipment like; vehicles, furniture, buildings, and machine tools used in production. However, these goods are not end-products, instead, they are used in making finished goods.
Generally, there are two types of goods: consumer goods and capital goods. But, consumer goods are the goods that the end-users, or consumers, use.
Consumer goods may refer to either services or products. While capital goods are items used by companies to manufacture goods and deliver services to final consumers.
Examples of Capital Goods
Some of the examples of capital goods are:
- Chemicals: oil, minerals, water, natural gas, and so on.
- Electronics: semiconductors, telecommunication, industrial, and consumer electronics components.
- Automatics: include components for cars, bikes, trucks, and other vehicles.
- Textiles: cotton, wool, nylon.
Best-Paying Jobs in Capital Goods
These are some of the top possibilities to explore if you’re looking for a high-paying job in the capital goods market.
Moreover, if you have the experience and skills, you can get a good job that will help you grow. The best job opportunities in capital goods include:
#1. Engineering Managers
Engineering managers are among the highest-paid employees in the capital goods sector.
In fact, an engineering manager’s primary responsibilities include planning, leading, and coordinating engineering activities inside a corporation.
If you desire to work in the capital goods industry, then start preparing for the basic requirements.
Furthermore, the position is highly sought after by engineers with a bachelor’s degree and several years of expertise in the field.
However, the engineering manager’s responsibilities include
- Managing staff and assigning tasks to engineers and technical personnel
- Leading teams in the development of new products, solutions, and processes
- overseeing project logistics and resource allocation.
Also, engineering managers earn an average salary of $103,000 per year in the United States.
#2. Best-Paying Jobs in Capital Goods: Manufacturing Engineer
This is a group of engineers who work in the manufacturing industry and whose primary task is to ensure the manufacturing process runs smoothly. So, a manufacturing engineer oversees all the manufacturing processes in the industry.
The average salary for manufacturing engineers, as reported by Payscale, is $71,980/year in the United States.
Furthermore, Manufacturing Engineer requires the following set of qualifications and skills as:
- Ability to work with little or no pressure.
- Good leadership skills.
- Teamwork skills.
- Problem-solving skills
- Excellent information technology skills.
- Commercial awareness
- Good communication skills.
- Knowledge of equipment for purchase, installation, and repair.
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#3. Best-Paying Jobs in Capital Goods: Senior Mechanical Engineer
Senior Mechanical Engineering is one of the best positions in the capital goods industry. So, in order to gain employment and operate in this position, a candidate must have at least 10 years of experience.
A senior mechanical engineer is also responsible for building, developing, designing, testing, and inspecting mechanical systems and devices, such as machines, tools, and engines.
Nevertheless, mechanical engineering is a broad field. So, you can say a senior mechanical engineer works in different industries, designing a wide range of products.
Senior mechanical engineers earn an average salary of $92,000 per year in the United States.
#4. Electrical Engineer
Electrical engineers are to design, develop, test, and supervise the manufacture of electrical equipment. They manufacture products such as electric motors, radar and navigation systems, communications systems, and power generation equipment.
Also, they work in the development of electrical systems for aircraft and automobiles. The average annual pay for electrical engineers is $78,016.
However, the highest limit can be well above $200k per year. Electrical engineering jobs are among the most lucrative, and the capital goods business is one of the best places to look for one.
#5. General Manager
People in this sector manage all the company’s facilities and operations. Which involves services and other activities, including relationships between the company’s facilities and team members, or government, community, and other industries.
Moreover, the roles of general managers in capital goods industries include:
- Providing all the reports when needed.
- coordinating and administering the company’s policies as agreed by the board of management.
- Training team members by holding daily and weekly meetings, as the case may be.
- Communicating set goals for the entire team.
- Implementing and monitoring the budget of the company, they monitor the quality of the finished goods and services rendered to ensure customer satisfaction.
Also, in the United States, it is estimated that the average salary for a general is $87,000 per year.
#6. Quality Control Manager
A quality control manager supervises employees and oversees product development methods to guarantee that goods fulfill quality and efficiency requirements.
Also, the quality control manager works with clients to ensure the end products meet their needs and requirements.
In the United States, the average salary for a quality control manager is $72,175 per year.
#7. Industrial Designer in Capital Goods
Industrial designers are responsible for the development of concepts for manufactured products such as cars, home gadgets, toys, and so on. They blend art, business, and engineering to create aesthetically pleasing products for people.
In terms of capital goods, a degree in industrial design and a few years of experience are required to thrive in this profession.
According to Payscale, the average compensation for an industrial designer is $60,832. According to Indeed, the average compensation for an industrial designer is $68,653 per year in the United States.
This is one of the best jobs in capital goods.
#8. Research and Development Manager
Research and development managers are another attractive and lucrative job in the capital goods industry.
The primary role is to manage and direct research and development (RD) initiatives in order to meet organizational demands.
At the same time, capitalize on new product opportunities. They also develop and implement RD techniques and procedures.
So, according to Salary.com, as of 2022, the average research and development manager’s pay in the United States is $144,880. It usually falls somewhere between $126,187 and $166,452.
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#9. Sales Engineer
For companies in the capital goods market, sales engineers specialize in tech and scientifically advanced items.
Sales engineers utilize 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.
So, the average annual income for sales engineers is $74,250.
#10. Marketing Manager
For capital goods companies, marketing managers are in charge of planning, formulating, and executing strategic marketing plans in order to acquire new consumers and maintain existing ones.
The educational qualification to strive in this position is 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 was $109,831.
#11. The Business Development Manager
In the light of business, the business development managers’ responsibilities include planning, managing, and coordinating business development efforts.
Among the responsibilities are:
- Setting business and revenue growth goals and developing plans
- New target market initiatives are being researched, planned, and implemented.
- Prospective accounts in target markets are being researched.
- Following up on leads and guiding them through the sales process.
#12. Robotics Engineer in Capital Goods
Robotics engineer uses computer and electrical program to carry out automation in the industry. Therefore, robots are used to handle very risky tasks in the industry and they act on human instruction.
However, the salary of a robotic engineer in the capital goods industry is $93,364 per year. Without a doubt, robotics engineering is one of the highest-paying positions in the capital goods industry. This is one of the best-paying jobs in capital goods.
#13. Part Assembler in Capital Goods
Assemblers are in charge of compiling and repairing the tools. Indeed, the assemblers are familiar with the instrument’s varied sizes and lengths and make no mistakes in their job.
So, assemblers in the capital goods business typically earn $32,592 per year in the United States.
In fact, part assemblers have some of the highest pay rates in the capital goods business.
#14. Category Manager Capital Expenditures
Category managers are among the best-paying jobs in capital goods. They focus mainly on the daily managing of capital sourcing.
Also, their job role includes risk management mainly to ensure products and services are delivered at a reasonable cost.
In addition, category managers can work remotely or physically. In the United States, the estimated salary of people in this profession is between $150,000 and $240,000 per year.
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#15. Global Strategic Product Manager
A global strategic product manager is also considered among the best-paying jobs in capital goods. Their work focus is to advise or provide necessary recommendations for capital improvements. By doing so, they ensure adequate supplies of products and equipment.
They also secure and protect the company’s assets. A product strategist identifies new opportunities for the company, which enhances the performance of the products. They also develop a long-term plan that will be useful to the company in the future.
Most importantly, people in this profession are estimated to earn from $100,000 to $140,000 annually and the job can be done either remotely or physically.
List of Industries in Capital Goods
- Machinery Industry
- Construction Industry
- Textile Industry
- Chemicals Industry
- Steel Industry
- Automotive Industry
- Electronics Industry
- Aerospace and Defense Industry
- Energy, Mining, and Utility industry
List of International Companies in Capital Goods
- Honeywell International—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
- Union Pacific—Size: 10,000+ employees
- General Electric – Size: 10,000+ employees
- Lockheed Martin – Size: 10,000+ employees
The Pros and Cons of Working in the Capital Goods Industry
Some of the advantages of working in the capital goods industry are listed below.
Workers in the capital goods industry are well-known for receiving generous salaries at the end of the month.
Their forms of payment can be either salaries or wages, although any of both is highly profitable.
The best-paying positions in the capital goods industry pay range from $30,00 – $80,000 per year, depending on your work experience and Location.
When it comes to picking a profession or career, one of the most important factors to consider is flexibility. Jobs with tight timetables put people under a lot of stress, which might lead to a breakdown.
The capital goods industry tends to offer freedom to its employees because everyone works in his or her area of expertise.
Furthermore, most of the work is automated, resulting in a highly quick and efficient process.
When working in the capital goods industry, the company provides free training and mentorship for you in your area of expertise.
This will help you improve your talents and broaden your experience.
The capital goods business has a reputation for giving employees easy promotions. You can’t stay at the same level for years without getting promotions.
This is to encourage workers to give their all for the industry to keep up with global expectations.
However, some of the disadvantages of working in the capital goods industry are listed below.
In the capital goods industry, accidents are common. It can be caused by human error or by machines that have malfunctioned mechanically or electrically.
However, working here necessitates the preparation, but if you take the necessary procedures, you can protect yourself and avoid accidents.
Heavy-duty machines that create a lot of heat are commonly used in the capital goods industry. This heat may create health problems such as skin burns, and in extreme cases, it may produce a chemical imbalance in the body.
In this industry, there are numerous machines and devices. To live, you must have technical abilities. This will make things difficult for those who aren’t tech-savvy.
In summary, it is always essential to know the best job opportunities before applying for any job.
Capital goods have excellent jobs for people interested in creating new things from existing goods.
Interestingly, it will be a brilliant choice for individuals who wish to be part of the global supply chain—the engines that keep the world up and running.
So, in this article, we have provided you with the best-paying jobs in capital goods. Hence, you will have sound knowledge of the best-paying jobs in capital goods before applying for any available capital goods jobs.
Capital goods are tangible items that a company uses in the production process to manufacture products and deliver services to clients.
well, capital goods are used to make other things.
Unlike consumer products, capital goods are used to make other things. they are not the finished products.
Consumer goods are purchased for personal—and final—consumption, whereas capital goods are purchased to assist in the production of other items. Businesses, companies, and manufacturers purchase capital goods.
Capital goods is a good career path because it exposes one to several job opportunities. Learn more about this career path here.
There are a lot of job opportunities in capital goods. such as engineering managers, manufacturing engineers, robotics engineers, and so on.
- ngjobalerts.com– Is Capital Goods a Good Career Path?
- investopedia.com– Capital Goods
- totempool.com– Is Capital Goods a Good Career Path? An Overview
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