If you know which is Best Paying Jobs In Capital Goods, it will help you decide which position is best for you and increase your chances of getting hired. In this blog post, I have talked about and explained 18 different roles to help you choose the right one.
Besides their personal interests or hobbies, everyone desires a job that pays well so they can cover their expenses, pay off debts, and, at the very least, have enough money to live the way they want to. There are many well-paid jobs in both the government and private sectors. It’s completely your choice which sector you want to work in.
This blog talks about the jobs in capital goods that pay the most. These jobs can be in both private and public companies. But before we discuss these jobs, let’s understand what capital goods are.
What Are Capital Goods?
According to Investopedia, capital goods are things that businesses make and use to make other things that people buy. Examples of capital goods are things like machine tools, electrical equipment, industrial machinery, and textile machinery. So, things like generators and forklifts are considered capital goods.
If you want a job that pays well and are unsure which one to choose or don’t know which jobs pay a lot, or if you are thinking about working in the capital goods industry, by the end of this article, you will be able to make a smarter choice. It will also help you find out what you are good at and follow those interests and abilities.
Jobs in the capital goods industry can be in management, business, or engineering. So, if you want to work in this industry, you should have a degree, experience, or qualification in one of these three fields.
What Do Capital Jobs Pay On Average?
The amount of money you can earn from a regular office job can vary greatly depending on your level of education, abilities, and work history. In jobs in the capital goods industry, you can make around $50,000 to $90,000 per year on average.
Before we start talking about the main topic, we have other job guides that can give you more options. There are well-paying jobs in the telecom industry, and there are also high-paying jobs in electric utilities central that you can consider as well. If you live in the US and want a job without stress, you should read my other articles about the best jobs in California and the happiest jobs in America.
List of Best Paying Jobs In Capital Goods Industry
The capital goods industry is a big industry with many different types of jobs because it involves making and delivering a lot of things. If you have the right skills, education, and experience, you can have a successful career in high-paying jobs related to capital goods.
According to LinkedIn, a recent study showed that people in the capital goods industry earn more money on average than people in all other industries combined. If you want a job that pays well, you should think about working in the capital goods industry.
18 Best Paying Jobs in Capital Goods to Boost Your Career
Capital goods are things that help businesses do well. They are important for many industries because they give them the tools and resources they need. They help companies come up with new ideas, work more efficiently, and stimulate growth in the economy. Now is a good time to begin a profession in this field, and here are some of the top jobs in it.
1. Engineering Manager
If you want to make a lot of money, this could be a great job for you. The main job of the engineering manager is to organize and oversee the engineering work for the organization. Moreover, it is their job to come up with ideas for creating new products or improving the ones that already exist. Their job is to watch over workers and spend time in different departments during the project.
This job requires you to take on a big responsibility because you have to make sure that everything in the project or division you are in charge of runs smoothly. To apply for this job, you need to have at least a Bachelor’s degree in engineering management or a similar field.
To do well in this job, it is important to have both technical and management abilities. The typical pay for an engineering manager falls between $100,000 and $110,000 per year.
2. Software Developer
Many companies that make big and expensive machines need software developers to work well. If you have skills in technology, this job can be great for you. It is expected that there will be a 20% increase in jobs in this field from 2020 to 2030, which is a lot.
A software developer is an important job that involves working with computer software programs. They create computer programs and apps that make the company work better. They also design and manage computer programs that help users.
They are not directly involved in making products, but they help companies with money become better and work more efficiently. However, depending on your level of experience, your role can be different. For example, if you are just starting out, you may work with or support more experienced software engineers in making, testing, and improving software programs and apps.
They typically do simple tasks every day to learn the code and get better at programming. The typical income for a software developer ranges from about $105,000 to $101,5000.
3. Product Development Engineer
Product development engineers are responsible for creating and overseeing how a product is made. They oversee different types of products and their designs, make sure they work properly, and test them before they are made for real.
They have to think of ideas, plan out what needs to be done from start to finish, figure out how to sell the product, and keep everyone updated on the progress of making it.
To be eligible for this job, you need to have at least a Bachelor’s degree in mechanical or electrical engineering. To do this job, you need to know a lot about how things are made, the materials used, and how to make sure they’re good quality. You also need to be good at talking and working with others, and coming up with new and creative ideas. The typical salary for a product development engineer is usually between $65,000 and $75,000.
4. Quality Assurance Manager
This can be the best option for you if you are looking for the best paying jobs in capital goods. The primary responsibility of a quality assurance manager is to set quality benchmarks and ensure consistent quality throughout the product life cycle. The other things you need to do are to ensure that the company’s products meet the high standards needed per the company’s sales goals and policy.
In fact, it is their responsibility to identify potential problems, provide appropriate solutions and train people to improve the process to improve the overall process for quality control. But, to apply for this job role, you just need a high school diploma, and the other skills required are attention to detail and excellent interpersonal and customer service skills.
The salary in this job depends on the type of goods you inspect and your experience. The average salary of a quality assurance manager ranges from $1,00,000 to $1,10,000.
5. Industrial Engineer
They are called mechanical engineers and their job is to make and improve the way products are made. This job has many tasks, like creating programs to evaluate jobs, planning finances and analyzing costs, finding ways to reduce waste in production, and lowering expenses. They also have to look at when things are made, how they are made, and make sure they are good quality.
To be eligible for this job, you must have a bachelor’s degree in industrial engineering or a degree in mechanical, electrical, manufacturing, or general engineering. Additional skills required for this position include being able to communicate effectively, plan projects, solve problems, think critically, manage quality, and have extensive knowledge of production machinery, processes, and standards.
It is very important in manufacturing industries because it helps to design and test new ways to make production processes more efficient. An industrial engineer usually earns between $80,000 and $90,000 each year, on average.
6. Industrial Designer
You can also opt for this job in the capital goods industry as it has excellent growth prospects, plus the salary is also good. The primary role of an industrial designer is to design different kinds of products and systems.
The product can range from furniture to iron to cycle and whatnot. They are majorly responsible for planning, developing, directing and coordinating with the product design in the company.
Various skills required to become an industrial designer are analytical, computer, interpersonal, mechanical and problem-solving skills. It would help if you had a bachelor’s degree in industrial design or a related field and a couple of years of experience to apply for this job. The average salary of an industrial designer is around $70,000 to $80,000 annually.
7. Manufacturing Director
This is one of the best paying jobs in capital goods but to apply for this job you need a minimum of 10 years of experience and a bachelor’s degree in engineering or a related field.
The main role of a manufacturing director is to oversee the company’s product production. Other than this, they are also involved with developing new products, checking the inventory and ensuring that the complete manufacturing process is done as per the plan and on time.
They need to have a good knowledge of the company’s products to advise on increasing efficiency and to improve the product. They need to do long-term planning, plus they also hire managers, supervisors and other members of the leadership team.
Skills required to become a manufacturing director are leadership, management, communication and problem-solving skills. The average salary of a manufacturing director is around $1,30,000 to $1,40,000.
8. Marketing Manager
Marketing of capital goods is done at a bigger scale with potential clients. Thus, the marketing managers are responsible for planning, leading, executing and coordinating marketing activities. They also manage and organize various marketing campaigns to create demand for products or services, which also helps increase brand awareness.
The additional role will be to analyze market research findings and incorporate the feedback received from the research, advertising and sales team. Plus, they also monitor the marketing programs’ performance so that it can be improved or altered as per the outcome.
To apply for this job, you need to have a bachelor’s degree in marketing or a related subject and a few years of experience. The average salary of a marketing manager ranges from $1,40,000 to $1,50,000, you can earn more as per your qualification and experience.
9. Training and Development Manager
This is an excellent job in the capital goods sector wherein your role will be to manage the training and development of the company’s employees. It is their duty to make the most out of the employees and help them in taking the best out of them, this will help both employees and the company’s development.
They play a vital role as they make others add value to the company by providing them with the proper training. For this job, you need a couple of years of experience because you need to figure out both the learner’s and the company’s needs and wants and accordingly plan the training and development structure or plan.
Various skills required to become a training and development manager are communication, interpersonal, time-management, multitasking and leadership skills. The average salary of a training and development manager is around $1,25,000 to $1,35,000, and it increases as per your experience.
10. Warehouse Worker
This is another significant role you can opt for in the capital goods industry. A warehouse worker’s primary responsibility is taking care of the packaging, preparing orders for delivery, placing orders, checking the inventory, etc. Along with this, they also help their co-workers handle incoming and outgoing freight, plus their daily task involves restocking shelves and ensuring that the orders are shipped timely.
This job requires a lot of stamina and physical work, so if you think you can handle such work, this can be an excellent job for you. The best part is that there is a huge demand for this job role, and it is expected to rise by 6% from 2020 to 2030, which means the salary and growth prospects are high.
Various skills required to become a warehouse worker are a positive attitude, teamwork, a good understanding of general warehouse lingo and flexibility. The average salary of a warehouse worker ranges from $30,000 to $40,000.
11. Electrical Engineer
The role of an electrical engineer is to design products associated with electricity, like machines, vehicles, instruments, appliances, etc. As an electrical engineer, you will have to create and conduct research programs, assure the quality of the products, apply knowledge of electricity and materials and prepare to conduct research.
The role of the electrical engineer varies from company to company as some might want you to confirm systems and components abilities and test end-products and system potentials.
To apply for this job, you need a bachelor’s degree in electrical engineering or an associated engineering discipline. In fact, you might also need a license if you work for a government or federal contractor.
It is their responsibility to design the electric system of the aircraft and vehicles. If you want to succeed in this job, you need to have a thorough knowledge of maths, including physics and calculus. The average salary of an electrical engineer is around $1,00,000 to $1,10,000.
12. Robotics Engineer
You can also opt for this career if you have good technical knowledge. As a robotics engineer, your role will be to work on the design, concept, implementation, testing, analyzing and maintaining the robots and their framework.
They work for various employers as they are needed in various business sectors. For example, you can get work in a manufacturing company or in a research lab or a private company.
As a robotics manager, you will also have to design and create machines to automate jobs in the manufacturing, medicine and aerospace industries. The job role for a robotics engineer varies from company to company; thus, you will have to check the job description thoroughly before applying for the job.
The skills required for this role are creativity, solving complex problems, programming, critical thinking and active learning. The average salary of a robotics engineer ranges from $80,000 to $90,000 annually.
13. Computer-Aided Design (CAD) Technician
In the last couple of years, manufacturing has become computerized to a great extent which has increased the demand for skilled technicians who use CAD software to do the research work and designing of the products.
The role of the CAD technicians is vital and very time-consuming; they need to create engaging drawings with detailing in them. Moreover, it comprises particular products that will be used to different specs, for any product.
Basically, they make electronic design plans for machinery, modern cars, building or any product using computer software. They work with building architects and professional draftsmen to transform blueprints into 2D or 3D computer models.
To become a CAD technician, you need to have a good knowledge of engineering design principles, problem-solving, communication and computer skills and an understanding of manufacturing processes.
The qualification required for becoming a CAD Technician is an associate degree in architecture, construction, electronics or design. The average salary for this profile varies from $50,000 to $60,000 annually.
14. Maintenance Engineer
You can also become a maintenance engineer if capital goods sector interests you, all you need is a bachelor’s degree and certification. The major role of a maintenance engineer is to check, repair and do the servicing of the equipment, machinery and infrastructures. To ensure smooth functioning, they need to plan and schedule maintenance.
Although the work varies from company to company, as in a few companies, they might have to reduce equipment failure and unplanned downtime, extend the equipment’s longevity, help with workplace safety and improve equipment efficiency.
To become a good maintenance engineer, you need to have an organized and logical approach, excellent communication skills, an understanding of engineering drawings and principles and the ability to work under pressure. The average annual salary of a maintenance engineer is around $60,000 to $70,000 annually.
15. Business Development Manager
If you are still thinking about what do capital goods jobs pay and whether it is worth joining this sector or not, here is the answer. You can become a business development manager as it not only pays well but has excellent growth prospects.
It has been predicted that from 2020 to 203 there will be job growth in this profile by 7%, which is pretty good. As a business development manager, your main role will be to manage business development operations such as planning, directing and coordinating the company’s business development operations.
They are vital to the organization as they are responsible for generating leads and negotiating client pricing; in short, they are responsible for driving business growth within the organization.
In fact, they forecast sales revenue as well which means they are valuable to the company in every aspect. Therefore, organizational, technical, communication, interpersonal, and negotiating skills are required to become a business development manager. The average annual salary for this profile ranges from $1,00,000 to $1,10,000.
16. Manufacturing Manage
This can be a great job profile in the capital goods sector with an excellent salary. The primary role of a manufacturing manager is to guarantee efficiency, supervise the day-to-day operations of the manufacturing facility and assure the quality of the produced goods. In addition, they are in charge of various parts of a manufacturing business where they have to coordinate, schedule and conduct the activities that go into the production process.
Along with managing the manufacturing process, they also need to ensure the quality and efficiency of the product and its process. They ensure that the production goes as per the plan, prepare production reports, oversee staff, and assign duties to them. Many people prefer this job post because, as per its payment data, the salary increases by 11% in 5 years on average.
The skills required to become a manufacturing manager are leadership, communication, technical, problem-solving and interpersonal skills. The average salary of a person with an experience of 1 to 3 years is around $85,000 to $95,000 annually.
17. Project Manager
This is another excellent job profile in the capital goods sector. The role of a project manager is to plan and monitor the project using suitable management methodologies. They are responsible for launching a project idea and supervising it until it is completed.
They need to ensure that the project runs without any issues and is finalized on time, plus they need to regularly provide the progress of the project to upper management.
Various skills required to become a project manager are teamwork, critical thinking, time management, leadership, problem-solving and communication skills. Also, to become a project manager, you need to have a bachelor’s degree in IT or a related field. The average salary of a project manager ranges from $90,000 to $1,00,000.
18. Sales Engineer
A sales engineer’s primary responsibilities are bringing the product to market and closing sales, basically doing marketing and sales of the product. In addition, they use their technical skills to explain to the customers or clients the usage and advantages of the product or services offered. In fact, they tell the USP of the product and explain how it is better than the competitors.
They are responsible for finding new clients, building good relations with customers, and negotiating and closing deals. To become a sales engineer, you need to have product knowledge, technical understanding, demonstration problem-solving, communication and presentation skills.
The average salary of a sales engineer ranges from $90,000 to $1,00,000 annually; on top of that, they also earn commissions on their sales.
What Do Capital Goods Jobs Pay?
In the capital goods industry, the pay scale for jobs varies based on several factors, including educational qualifications, experience, and skills. These factors contribute to determining the level of responsibility and expertise required for specific roles within the industry.
The average pay for jobs in the capital goods sector can range from $55,000 to $130,000 per year. It’s important to note that this is a general range, and actual salaries may differ depending on the specific job title, location, company size, and market conditions.
Entry-level positions or roles that require less specialized knowledge and experience may fall on the lower end of the salary range. As individuals gain more experience, education, and develop in-demand skills, they can expect their earning potential to increase.
In addition to base salaries, many capital goods jobs offer additional benefits such as bonuses, commissions, performance incentives, and comprehensive benefits packages that may include healthcare, retirement plans, and other perks.
Why Opt for a Job in Capital Goods Industry?
Jobs in the capital goods industry offer numerous advantages, including higher job security and compensation. Workers in this sector are highly satisfied with their salaries. Additionally, the specialized knowledge and skill set acquired in these jobs keep employees at the forefront of automation and technological advancements.
For example, employees at General Electric (GE) rated their job satisfaction as 4 out of 5 stars on Glassdoor, with over 80% of them recommending the company as a great place to work.
Where to Find the Best Paying Jobs in Capital Goods?
Finding the best-paying job in the capital goods industry can be a crucial step in building a successful career. Fortunately, there are several valuable resources available to help you in your job search within this industry. To simplify the process, we have compiled a list of the best resources you can utilize to find the highest-paying jobs in the capital goods sector.
- Company Websites: The first step is creating a list of all the companies producing capital goods. Once you curate the list, search for those companies and check their website and employee reviews. It will help you determine which company you want to work for. Also, check the career page frequently to avoid missing any newly posted job opportunities.
- Online Job Boards: Taking the help of online job boards is a great way to get your dreamy capital goods job. You can search for jobs by location, job title, company, etc.
- College Career Centers: Most colleges, whether yours or your friends, have career centers to help you find a job after graduation. Visit those centers and figure out what career services they offer.
- Internships: It is a great way to enhance learning, polish your skills, and develop new ones. Many companies prefer to hire interns for full-time positions if they perform well in their internships.
- Professional Organization: One of the most effective ways to find a job in the capital goods sector is to grow your network by staying up to date on the current labor market for your profession.
Reasons to Choose a Career in the Capital Goods Sector
The industry that makes important tools and equipment for businesses is very important for the economy. The government keeps track of purchases for big things to see how well the economy and country are doing.
The need for tools and equipment is never-ending. Without these things, companies won’t be able to make things that people buy. So, capital goods are really important for the economy as a whole.
Most of the large companies that make big products are very steady. There are famous companies where you can find employment.
Big companies are strong and stay around for a long time because they are not affected by small changes in the economy. That’s why the big players in this industry have been successful for many years. In addition, these companies are skilled at navigating difficult economic situations because they know how to handle a unique economy.
If you can’t find a job at a big company when you start your career, you can try applying for an internship or entry-level position at smaller companies.
Once you start working in this field and gaining experience, there are endless possibilities for you to succeed. The industry has a lot of potential for growth because you are working for a company that makes physical things that people can buy. Additionally, the process of making products that assist in expanding other businesses can be satisfying and profitable.
Drawbacks of Choosing a Career in the Capital Goods Sector
Capital goods companies, like any other business, have to make changes to adapt to difficult situations, despite their skill in handling such situations. This could mean firing employees, lowering incomes, or reducing perks.
The industry that makes capital goods is good at changing with the times, but this can also mean that some jobs might go away because of new technology and machines doing the work instead.
Working in the capital goods sector can be physically tiring, particularly in departments like engineering. Sometimes, you may need to go to factories or warehouses when it’s late to make sure that heavy machinery is being delivered or set up correctly. Also, we might need to go to construction sites that are currently being worked on to check how the work is going.
Big companies that make big things can be slow to change because they have set ways of doing things. Making decisions can take a long time because many managers are involved, which can make it harder to start new things.
To sum up, the capital goods industry has many chances for people who want well-paying jobs. People who have the right qualifications, skills, and experience in this field can earn good money and have stable jobs.
During uncertain times, the capital goods companies are able to adjust and overcome challenges because they are known to be flexible and strong. By working hard and making a plan, you can get a good paying job in this exciting field.
Here are common questions people have when seeking a job in capital goods sector.
1. What categories of products are under the capital goods industry?
Capital goods are not used to make new products because they are already used to make other products. These things are made up of electric equipment, machines used in factories, tools used to make things, machines used in industry, and equipment used in construction and mining.