If you’re reading this article then you are most likely wondering “What do capital goods jobs pay?” If you’re thinking this, then you’re most likely interested in taking on a high paying capital goods job. So, yes, you are at the right place cos this piece is definitely for you! But, before we get into all of the details, let’s take a look at what capital goods are and some of the companies that contribute to the capital goods workforce in the United States.
What are Capital Goods?
Capital goods are long-lasting items used by manufacturers in the creation of goods and services. Tools, vehicles, machinery, and equipment are examples of these. The capital goods industry includes a diverse range of departments and roles that can accommodate new hires, and recent studies show that workers in the capital goods sector earn greater salaries than workers in other industries. Examples include:
- Textile- that includes cotton, wool, and nylon.
- Chemicals- include oils, minerals, natural gasses, and so on.
- Automotive includes components for bikes, cars, trucks, and other vehicles.
- Electronics- semiconductors, industrial, telecommunications, and consumer electronic components.
Some industries contributing to capital goods are:
- Chemicals Industry
- Electronics Industry
- Textile Industry
- Machinery Industry
- Steel Industry
- Automotive Industry
- Construction Industry
- Energy, Mining and Utility industry
- Aerospace and Defense Industry
What do Capital Goods Pay?
Engineering managers are among the highest-paid employees in the capital goods sector. However, an engineering manager’s primary responsibilities include planning, leading, and coordinating engineering activities inside a corporation. Start preparing for the basic prerequisites if working in capital goods is your desire. Hence, engineers with a bachelor’s degree and several years of expertise in the industry are highly sought after for this role.
Among the responsibilities of the engineering manager are:
- Product development, testing, and production processes are designed, implemented, and refined.
- Manages a team of engineers and technicians and assigns them duties.
- Develops innovative products, solutions, and procedures with the help of teams.
- Oversees the logistics of the project and the allocation of resources.
Electrical engineers are in charge of planning, developing, testing, and overseeing the production of electrical equipment such as electric motors, radar and navigation systems, communications systems, and power generation equipment. They also work on the development of electrical systems for autos and planes. The average annual income for electrical engineers is $103,000. However, the highest limit can be well above $200k per year. Electrical engineering jobs are among the most lucrative jobs available, and the capital goods business is one of the best places to look.
In the capital goods industry, this is one of the highest-paying jobs. However, in order to be hired and operate in this position, a candidate must have at least 10 years of experience. Mechanical devices and systems, such as machines, tools, and engines, are developed, designed, built, tested, and inspected by a mechanical engineer. Furthermore, engineers work in a variety of businesses, designing a wide range of goods, as mechanical engineering is such a large field. Mechanical engineers in capital goods earn an average of $90,000 per year.
This is a group of engineers who work in the manufacturing industry and whose primary task is to ensure that the manufacturing process runs smoothly. Hence, manufacturing Engineers must possess a set of abilities and qualifications, including:
- The ability to perform under pressure.
- Ability to lead.
- Teamwork abilities.
- Problem-solving skills.
- Knowledge of information technology.
- Commercial awareness.
- Communication abilities.
- Equipment knowledge for buying, installation, and repair.
Indeed a quality control manager supervises employees and oversees product development methods to guarantee that goods fulfill quality and efficiency requirements. Likewise, clients are also consulted by the quality control manager to ensure that the final products fulfill their needs and specifications.
Industrial designers are in charge of creating concepts for produced things such as automobiles, home appliances, toys, and so on. They blend art, business, and engineering to create aesthetically pleasing products for people. In terms of capital goods, a bachelor’s degree in industrial design and a few years of experience are required to thrive in this position.
Another lucrative and appealing position in the capital goods business is that of a research and development manager. Their primary role is to manage and direct research and development (RD) initiatives in order to meet organizational demands while capitalizing on new product opportunities. In addition, they create and apply RD methodologies and procedures.
For companies in the capital goods market, sales engineers specialize on technologically 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.
For capital goods organizations, marketing managers are in charge of creating, designing, and executing strategic marketing plans in order to acquire new consumers and maintain existing ones.
They usually have a marketing or related degree, as well as several years of experience in the sector.
In a typical capital goods company, business development managers’ responsibilities are planning, managing, and coordinating business development efforts.
Responsibilities may include:
- Setting goals and developing plans for business and revenue growth.
- 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.
The Capital Goods industry is a great place for young people to develop their skills and stay relevant while earning a good living.
Similarly, when looking for a job in the Capital Goods market, you have a lot of alternatives.
To illustrate Union Pacific, General Electric, Honeywell Foreign, Lockheed Martin, United Rentals Inc., as well as Boeing all have international employment options that include retirement plans, vision insurance, tuition reimbursement, vacation days, medical insurance, and dental insurance.
Since, I’ve successful answered your “What do capital good service jobs pay?” Question you can’t start your career by applying to companies hiring for capital goods jobs