As someone looking to start a career in the capital goods sector, you might be wondering how much do Capital Goods Jobs actually pay? In order for you to make a well informed decision about your future, let us have a look at the various earning rates of some of the most popular positions in this industry.
Items that are used to generate additional services or Products are what we call Capital Goods. These goods are sometimes referred to as “Durable Items” because of the long lasting quality they have. Both investment and consumer products may be produced with the use of capital goods.
Capital goods include assets like machinery, vehicles, tools, and manufacturing equipment used in production. These goods are used to make other products like automobiles, computers, and clothing materials. Buildings and other structures that are used in industrial processes are also considered capital goods.
An example of such a capital good that is used to create other capital goods is are investment goods. Investment goods include things like industrial buildings, machines, and transportation vehicles.
The industries that manufacture these products are also referred to as “capital goods.” The manufacturing, construction, and mining sectors all fall within the capital goods category. Based on the fact that they produce the components required to manufacture other goods and services, the Capital Goods industry is crucial to the economy.
Capital Goods Best Paying Jobs
Your degree of expertise, the business you work for, and the particular task you do can all determine how much pay you get as a worker in the capital goods job position. Nevertheless, certain occupations involving capital goods often pay more than others. Here are the top five paying positions in the capital goods industry.
Business Development Manager
In the capital goods industry, Business development managers basically earn as much as six figures as income. Their responsibility in this role is to identify new business opportunities and then develop strategies to pursue them.
Project Manager – What Do Capital Goods Jobs Pay
One of the major jobs in the capital goods industry that pay very high, even as high as six figures, is that of a Project Manager. Those in this position are responsible for supervising the development and implementation of projects, and making sure that they are completed as scheduled within the stipulated budget.
An Engineering Manager in the capital goods industry is in charge of overseeing the various works of engineers in a company, and making sure that all projects are completed accordingly as specifications require. This position is also accompanied by an attractive salary that is up to six figures as well.
Marketing Manager – What Do Capital Goods Jobs Pay
In the Capital Gods industry, Marketing Managers also get to earn up to six figures income annually. They are in charge of developing marketing campaigns in order to promote services and products, and also track the effectiveness of these services and products.
The sales manager role in the capital goods industry is responsible for identifying new business opportunities and developing strategic means to execute them. Those that work in this position also earn as high as six figure digits as income on a yearly basis.
Capital Goods Jobs – Do They Pay?
Research records have shown that Capital Goods Jobs generally tend to pay higher wages than most of the jobs in other sectors of the economy. This is as a result of the higher skills and training required to take on the job position.
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Workers that handle this role are required to have better understanding of how the economy works, and this is because of the complex nature of the job position.
For those with the required skills, the capital goods industry in the United States provides a wide range of employment options, and it has proven to be a very crucial part of the economy. If you’re considering a job in the industry, you may be curious about the range of the income to be earned.
Based on an elaborate study carried out by the Bureau of Labor Statistics (BLS), the median annual wage for workers in Production positions was at $33,780 in May 2019, and this is much lower than that of workers in all occupations put together, which was at $39,810.
But then, workers in Production roles who work in the Capital Goods industry alone, earned up to $38,000 in May 2019.
People that are thinking about a career in the capital goods sector should actually look into various job titles and compare salaries in order to get an idea of what you may get to be earning in such job position. You may work in this significant sector and earn a good living with the appropriate training and experience.
Companies Sited in The Capital Goods Industry
In the Capital Goods Industry, there are a lot of companies of different types. Let us now take a look at a few of these companies:
Machine Tool Companies: Tools that are used to manufacture other products are made by these companies. Such machine tools may include drill presses, milling machines, and lathes. Examples of some of these machine tool companies are Okuma America Corporation, Yamazaki Mazak Corporation, and Haas Automation.
Aerospace and Defence Companies: In the capital goods industry it is the job of the Aerospace and Defence companies to design, develop, and manufacture certain types of products for both military personnel and civilians. Some examples of these kinds of companies are Northrop Grumman, Lockheed Martin, and Boeing.
Construction Equipment Companies: In is the work of these companies to manufacture materials used in construction companies. Some of these materials include: cranes, excavators, and bulldozers. Construction Equipment Companies include: Komatsu, Caterpillar, and John Deere.
It is best to do research on various positions and companies in order to find the best fit, if you are considering to take up a career in the Capital Goods industry.
Jobs in the Capital goods industry actually pay very well, especially when compared to other types of jobs in other industries. These jobs often come along with job security and other good attractive benefits that makes them such great job options for many workers.