In this article, we will be looking at some of the best paying jobs in the Capital Goods industry. If you wish to start a lucrative career and you are not yet certain as to if working in the capital goods industry will be a good choice for you, then you will understand more and be able to decide after reading this.
The Capital Goods industry in simple terms, is one with a wide range of very lucrative job opportunities with wages that are greater than that of the jobs in many other industries. This industry can be a very rewarding career path to take, especially for one that possess the right level of skill to acquire a high paying job.
The best paying jobs in the capital goods industry usually involve a lot of manufacturing and distribution activities. But then, let us understand what Capital goods and the industry are, before diving into the jobs.
Just as Consumer Goods refers to the goods and services which businesses manufacture and sell for final consumption by the end consumers, such as: clothing, devices, beverages, food, etc.
Capital Goods on the other hand, refers to the tangible assets that these businesses use in the production and distribution of the Consumer Goods, such as: buildings, equipment, tools, vehicles, machinery, etc.
However, the same kind of goods can get categorized as consumer or capital goods depending on the usage. For instance, a vehicle used for personal purposes by an individual is tagged as a consumer good, while on the other hand the same vehicle if used by a company to facilitate its business, will then be tagged as a Capital good.
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The Capital goods industry is therefore a very vast industry with some of the best paying jobs, and large companies manufacturing equipment, gear, and tools of all sizes, shapes, and purposes, to be used by other companies for their own manufacturing and production purposes.
Companies in the Capital Goods Industry (Some of the Big Ones)
Below are listed some of the dominators of the market in several capital goods industries in the United States. These companies in the capital goods industry offer some of the best paying jobs and a lot of employee benefits.
- General Electric – Producers of equipment used in Aircraft engines, Weapons, and Motors in the Energy Industry.
- Union Pacific – Producers of equipment used in the Logistics and Transportation Industry.
- Lockheed Martin – Producers of equipment used in Security, Aerospace, and Military in the Technology Industry.
- Honeywell International – Producers of equipment used in Automobiles, and Aerospace in the Chemical Industry.
- Boeing – Producers of equipment used in the Defence and Aerospace Industry.
- United Rental Inc. – Producers of equipment used in Construction, Vehicle Rentals, and Industrial equipment Industry.
- Northrop Grumman – Producers of equipment used in the Defence and Aerospace Industry.
- Caterpillar Inc. – Producers of equipment used in the Construction Industry.
- ABB – Producers of equipment used in the Utility, Mining, and Energy Industry.
- 3M – Producers of equipment used in Building, Cleaning, Adhesives, and Medical products in the Manufacturing Industry.
Best Paying Jobs in Capital Goods Industry
Here we have listed some of the best paying jobs in the capital goods industry, which is according to statistical data from the Bureau of Labor Statistics.
Architectural and Engineering Managers
These job positions are in charge of planning, directing, and coordinating the various activities in the manufacturing, engineering, and construction industries. A lot of responsibilities rests on the shoulders of the Architectural and Engineering Managers since they are the ones that must ensure smooth running of operations in the entire divisions under them.
This job position is one of the top jobs among the best paying jobs in the capital goods industry, and therefore requires several years of job experience, as well as academic qualifications.
Minimum Qualifications Required: Bachelor’s Degree in Engineering
Average Annual Pay: $152,350.
Marketing Manager – Best Paying Jobs in Capital Goods Industry
Marketing always play a significant role in the success or failure of an industry, although the goods that capital industries manufacture are not marketed directly to consumers. The marketing is done at a much larger scale with potential businesses, for capital goods.
Therefore, the marketing manager is in charge of planning, preparing, and executing the marketing schemes for the products of the company involved.
Minimum Qualifications Required: Bachelor’s Degree in Marketing
Average Annual Pay: $133,380.
Industrial Production Manager
The operations of manufacturing and the associate plants is being supervised and managed by an industrial production manager. The main goal that this job role is tasked with is to allocate limited resources and material needed to optimize production in the company.
Minimum Qualifications Required: Bachelor’s Degree in any related Managerial field
Average Annual Pay: $103,150.
Mechanical Engineer – Best Paying Jobs in Capital Goods Industry
The role of Mechanical Engineers in the capital goods industry is to design, build, develop, research, and test mechanical equipment such as: engines, machines, tools, and sensors. This is a broad field in engineering where you will get to work primarily in a lab or an office setting. Regardless of the setting, you must have to visit the field sites periodically.
Minimum Qualifications Required: Bachelor’s Degree in Engineering or Architecture
Average Annual Pay: $95,300.
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Computer-Aided Design Technicians
The demand for skilled technicians with knowledge of CAD software has increased as the processes in manufacturing has become rapidly computerized in recent decades. The software is usually for research and designing of products in the industry.
Minimum Qualifications Required: Relevant Degree, experience, or skill in drafting.
Average Annual Pay: $54,920.
Quality Control Inspector
As the name suggests, a quality control Inspector is a job role among the best paying jobs in the capital goods industry that is concerned with inspecting the quality of the goods being manufactured. The salary in this job position depends of certain factors such as: The nature of the goods being inspected, the level of qualification or experience you possess, hours spent on working overtime jobs.
Minimum Qualifications Required: High School Diploma or any equivalent
Average Annual Pay: $35,580.
Aside from the above listed job positions, here is a list of other high paying jobs in the capital goods industry:
- Sales Engineer: an annual average income of $103,710, and requirement of a Bachelor’s degree.
- Robotics Technician: an annual average income of $56,740, and requirement of a Bachelor’s degree.
- Industrial Designer: an annual average income of $77,030, and requirement of a Bachelor’s degree.
- Warehouse worker: an annual average income of $30,320, and no serious requirements.
- Chemists and Material Scientists: an annual average income of $79,760, and requirement of a Bachelor’s degree.
- Training and Development Manager: an annual average income of $128,000, and requirement of a Bachelor’s degree and relevant experience level.
In the Capital Goods Industry, the available jobs that pay well are quite much, with the level of benefits attached to them varying based on expertise and experience levels. People will generally find good high paying jobs in this capital goods industry with ease if they can take time to study these jobs and what they are all about. Even if you enter the industry at an entry level job, it is always good to get prepared for the high paying jobs.