What Do Capital Goods Jobs Pay in 2022?

what-do-capital-goods-jobs-pay

What do capital goods jobs pay? The average salary of Engineering Managers in capital goods is $141,280 per year.

Business Development Managers make up to $130,412 on average.

However, the average salary of professionals in capital goods is $88,688 per year.

We have listed various best paying careers available in capital goods and what they pay in a year.

Related: 15 Best-Paying Jobs in Capital Goods | 2022

What are Capital Goods?

Capital goods are those durable assets that are used in producing other goods rather than being bought directly by consumers.

Examples of capital goods are hair clippers, buildings, machinery, vehicles, tools, and equipment.

10 Best Paying Jobs in Capital Goods and What They pay

The following are the best paying jobs in capital goods and the amount they pay:

1. Procurement Manager

Average salary: $121,900 per year

What do capital goods jobs pay procurement managers in the United States? Basically, procurement managers make $121,900 on average. However, the salary range typically falls between $108,200 and $138,100.

The following are the requirements to become a procurement manager:

  • Earn a bachelor’s degree
  • Consider a master’s degree
  • Gain professional experience in procurement 
  • Get Certified

Related:Is Diversified Commercial Services A Good Career Path? |2022

2. Category Manager

Average Salary:  $115,933 per year

Another best paying job in capital goods is category manager, with a base salary ranging from $104,500 to $128,779.

But you’ll need a degree in business administration or marketing with Proven experience as a category manager or a similar role.

A category manager handles marketing and merchandise displays for specific categories of products. For instance, his responsibilities can include:

  • Marketing product categories effectively
  • Discuss strategies with management and brief market research companies
  • Update internal reports
  • Perform regular retail checks, and drive sales through different strategies.

3. Business Development Manager

Average salary: $130,412 per year

If you’re a skilled and successful business development manager, then you’re a highly priced asset that many companies are looking for.

Business development managers that know their stuff are highly sought after. They usually have practical communication skills.

In addition, they’re good with negotiation and persuasion. Project management and business intelligence are their specialties.

Their salaries can range from $111,043 to $150,463 per year.

4. Project Manager

Average salary: $77,264 per year

In the capital goods industry, project managers oversee the production of specific deliverables.

For instance, they can develop a project idea and plan and monitor a team throughout a project.

However, you’ll need a bachelor’s degree in computer science, business, or a related field, as well as project management certifications.

  • Communication and interpersonal skills.
  • Ability to negotiate
  • Team building
  • Business Acumen

Related: Project Manager Salary NYC in US | 2022

5. Technical Buyer

Average salary: $89,837 per year

Technical buyers work for retail or wholesale companies. Their main duties are to screen suppliers and choose the best materials, products, or services for the business they represent.

Some of the profound skills of technical buyers are:

  • Negotiation skills
  • Good judgment and decision making
  • Detail oriented
  • Relationship building

6. Manufacturing Managers

Average salary: $119,684 per year

Another best paying job in capital goods is manufacturing manager. What do capital goods jobs pay manufacturing managers? The salary range typically falls between $104,979 and $135,305.

Most manufacturing managers possess bachelor’s degrees in manufacturing, business, or engineering. The following are some of the skills you’ll need to become a manufacturing manager:

  • Previous management or manufacturing
  • Strong communication and organizational skills
  • Excellent team-building and interpersonal skills

7. Engineering Manager

Average salary: $141,280 per year

The typical engineer manager’s salary in the United States falls between $127,041 and $156,492 per year.

A bachelor’s degree can help you set your foot for entry-level roles. However, you’d need many years of engineering experience.

And in some cases, a Master’s degree in engineering management, technical management, or business administration.

Read Also: Technical Project Manager Salary in US | 2022

8. Software Developer

Average salary: $100,000 per year

Some of the job descriptions of software developers are:

  • Creating efficient algorithms
  • Testing and deploying programs and systems
  • Producing clean and efficient codes
  • identifying areas of improvement based on user feedback.

9. Electrical Engineer

Average: $87,348 per year

In the capital goods industry, electrical engineers design, develop and test electrical devices and equipment.

To become an electrical engineer, you’ll need a first degree in electrical engineering or a related subject such as electronics, production, software engineering, physics, or computing.

10. Capital Equipment Logistics Coordinator

Average salary: $44,679 per year

Capital equipment logistics coordinators arrange transport, negotiate and finalize transactions.

You can spend a typical day responding to customer inquiries and referring clients to the proper channels.

You might be happy to know that this position does not require a college degree or advanced technical knowledge. And you can even work remotely.

So, with a high school diploma, basic computer knowledge, and the ability to work in a fast-paced environment, you’re good to go.

Finally, capital equipment coordinators can work in logistics companies, healthcare, and utilities.

List of Best Paying US Companies in Capital Goods

Capital goods companies manufacture or distribute goods in the aerospace and defense, construction, and engineering sectors. Examples of capital goods companies in the US are:

  • General Electric: Average Salary $100,898
  • Union Pacific: Average Salary $103,100
  • Lockheed Martin: Average Salary $60,489 to $128,231
  • Honeywell International: Average Salary $101,719
  • Caterpillar Inc.: Average Salary $56,479 to $134,693
  • United Rentals Inc.: Average Salary $43,968 to $105,156
  • Northrop Grumman: Average Salary $65,030 to $138,722
  • Boeing: Average Salary $61,333 to $132,402

Read more about their number of employees

Is Capital Goods a Good Career Path?

Yes, working in capital goods can be very rewarding as it offers steady and competitive earning potential with career growth opportunities.

Aside from the competitive salaries, working in capital goods comes with numerous perks like health insurance and pension plans.

If you work in big capital goods companies like General Electric, Union Pacific, and Lockheed Martin, you can also have access to well-equipped fitness and health facilities and other take-home packages.

Finally, if you go into the capital goods industry, be sure to identify with various unions in this industry. They can help you with the resources you need to go by.

Benefits of Capital Goods Jobs

Related: How Many Jobs are Available in Property-Casualty Insurers | 2022

What are the Skills Required for Capital Goods Career Path?

Professionals looking forward to a rewarding career in capital goods should have good communication skills, teamwork, leadership skills, and a whole lot of other hard skills.

Depending on the department you find yourself, the following is a list of common soft and hard skills required to succeed in a capital goods career path:

Skills for Capital Goods Jobs

Frequently Asked Questions About What Capital Goods Jobs Pay

What Do Capital Goods Pay?

The average salary of professionals in capital goods is $88,688 per year. Engineering managers in capital goods make $141,280 per year on average.

Business Development Managers make up to $130,412 on average in capital goods.

What is the Highest Paying Wage?

The highest paying wage in the world is $300,000 a year for anesthesiologists. They work in the medical field.

An anesthesiologist is a doctor who gives a patient medication so they do not feel pain when they are undergoing surgery. Others in a similar category are nurse anesthesiologists.

What is the Most Payable Job?

The topmost payable jobs in capital goods are:

  • Procurement Manager: $121,900
  • Category Manager: $115,933
  • Business Development Manager: $130,412
  • Project Manager:$77,264 
  • Technical Buyer: $89,837
  • Manufacturing Managers: $119,684
  • Engineering Manager: $141,280
  • Software Developer:$100,000
  • Electrical Engineer: $87,348
  • Capital Equipment Logistics Coordinator: $44,679

Conclusion

What do capital goods jobs pay? You can make about $$88,688 per year in the United States.

Engineering Managers earn the highest salary in capital goods at an average salary of $141,280 per year.

Business Development managers make up to $130,412 on average, and there are other high-paying jobs in capital goods listed in this article.

References

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