Best paying jobs in capital goods: What Careers are Right For You?. Capital goods are equipment that is bought and sold to produce value. These capital goods include equipment such as compressors, generators, and forklifts, among others. Capital goods have a longer life cycle than consumer goods. These capital goods have an estimated life span of five to seven years before they become obsolete.
From the time you start working in a capital goods field until you retire from this sector, your average annual salary ranges from $40,000 to $100,000. Therefore, finding the best paying jobs in capital goods can be challenging for some people and not for others.
Apart from the salary you earn, other factors that play a part when choosing which career fields are going to pay you well are how much training is required and what job opportunities will be available once you leave this sector.
The capital goods industry is not a well-known or popular source of employment. In fact, the sector only makes up about 5% of the U.S. labor force. But capital goods workers make up for it in demand and salaries. The best paid jobs in capital goods are found within this industry and here’s why:
Working for a large, public company with a presence around the world can be challenging. Managers must contend with competition from other departments, lower production costs and other factors that may put their job at risk. Entry level positions are often filled by recent college graduates eager to gain experience and prove their worth. Companies looking to grow their reputations will provide training, fair compensation and benefits, but also a competitive work environment.
Operations managers oversee production facilities as well as purchasing, shipping and other administrative functions. These managers supervise production staff who manage raw materials, produce finished products or execute final product inspections before distribution to customers or manufacturers. They are responsible for the day-to-day operations of the company’s capital goods business while staying abreast of industry trends and new developments in technology to stay ahead of competitors.
For those interested in working in one of the most important industries in the world but don’t have exposure to computers or manufacturing, consider capital goods management as a potential career track option. This fast-paced field requires a high degree of analytical ability along with life management skills such as time management, delegation of tasks and
Best Paying Jobs In Capital Goods
The following below are the Best Paying Jobs In Capital Goods:-
Industrial Designer $74,000
The job of an industrial designer is to collaborate with manufacturers to create new products. Industrial designers create everything from packaging to product designs and prototypes.
Industrial designers are experts in visual communication. If you are interested in the design field of business, this is the perfect job for you. Industrial designers work in all sectors including manufacturing, retail, construction, and healthcare. Industrial designers are extremely creative.
The best part is that they get to work with many different types of clients, which includes manufacturers, retailers, and architecture firms. Industrial designers work in all sorts of industries and environments, which includes offices, factories, and outside in the elements. Best Paying Jobs In Capital Goods
Electrical Engineer $84,000
A career as an electrical engineer can lead to a job that pays $84,000 per year. This is a great salary for engineering jobs. You can work as an electrical engineer in the fields of communications, power distribution, robotics, semiconductors, and electronics.
Electrical engineers design, troubleshoot, and analyze problems that relate to electro-mechanical systems, which can include computers, power grids, and robotics. The job opportunities for electrical engineers are vast, as they can work for small startups or even large corporations. The job opportunities for electrical engineers can be found all over the world.
Mechanical Engineer $92,000
The salary for mechanical engineers varies between $92,000 and $124,000 based on the location and the industry. A mechanical engineer can work in the fields of mining, oil and gas, manufacturing, and renewable energy.
There are also government jobs in mechanical engineering where salaries can be as high as $124,000. The job opportunities in mechanical engineering are vast, as they can work in many different fields.
Product Development Engineer $82,000
If you are interested in the field of product development, you can expect to earn $82,000 per year. Product development engineers work with product development teams to ensure that the products they design will be successful in the market.
Product development engineers work with engineering teams and marketing teams to ensure that their products will be successful. The job opportunities for product development engineers are vast, as they can work in many different industries. Read Also 15 Best Paying jobs in precious metals
Engineering Manager $103,000
If you manage an engineering team, then you can earn a salary of $103,000 per year. Engineering managers are responsible for managing engineering teams, budgets, and schedules.
An engineer manager has to be detailed oriented and have excellent communication skills. Engineering managers can work in various engineering fields such as manufacturing, technology, and construction.
Quality Assurance and Control Manager $88,000
Quality assurance and control managers work with engineering teams to ensure that products meet regulatory requirements and customers’ expectations. This position requires you to be detailed oriented, have excellent communication skills, and a strong analytical background. The salary for a quality assurance and control manager varies, depending on your location and industry.
Sales Engineer $87,000
A sales engineer is responsible for optimizing product sales by following the sales process, performing sales analysis, and analyzing sales data. A sales engineer has to be detail oriented, have excellent communication skills, and have an entrepreneurial spirit. The salary for a sales engineer ranges from $87,000 to $120,000 based on your location and industry. Read Also 10 Best Paying Jobs in Telecommunications Equipment
Business Development Manager $96,000
If you enjoy business development and want to earn a salary of $96,000 per year, this is the career for you. Business development managers are responsible for identifying new business opportunities, creating sales strategies, and implementing sales processes.
Business development managers work with marketing teams to develop marketing strategies and budgets. Business development managers can work in different industries, depending on the opportunities they find.
Research and Development Manager $115,000
If you are interested in researching and developing new products, then this career is for you. Research and development managers are responsible for identifying and developing new products, enhancing existing products, and managing research and development teams.
Research and development managers work in advanced technologies, such as aerospace, automotive, medical, and defense products. The salary for a research and development manager can range from $115,000 to $195,000 based on your location and industry.
Marketing Manager $97,000
If you enjoy marketing and want to earn a salary of $97,000 per year, this is the career for you. A marketing manager has to be detail oriented, have excellent communication skills, and be good at persuasion.
Marketing managers work with many departments in an organization, such as sales, research and development, and finance. The job opportunities for marketing managers are vast, as they can work in many different industries.
Research Methodology Manager $132,000
If you enjoy researching methods and processes, and have a strong background in statistics, then this is the perfect job for you. A research methodology manager is responsible for identifying the best methods for performing research, designing experiments and analysis, and analyzing the results of experiments.
A research methodology manager can work in any field where research is needed. The salaries for research methodology managers range from $132,000 to $235,000. Best Paying Jobs in Diversified Commercial Services
Chief Risk Officer $140,000
The job of a chief risk officer is to identify and evaluate potential risks that could jeopardize the success of a company. A chief risk officer must have excellent analytical skills, be highly organized, and be good at prioritizing tasks. Risk managers must be willing to work in various industries such as energy, healthcare, and technology. The salaries for chief risk officers range from $140,000 to $185,000.
Supply Chain Manager $120,000
If you enjoy managing supply chains, then this is the perfect job for you. A supply chain manager has to be good at managing people, have excellent communication skills, and be good at analyzing data. Supply chain managers work in various sectors such as manufacturing, retail, and transportation. The salaries for supply chain managers range from $120,000 to $200,000.
Director of Finance $100,000
If you enjoy the field of finance, then this is the perfect job for you. A director of finance has to have excellent analytical skills, be good at managing projects, and have great communication skills. A director of finance works in every sector such as healthcare, technology, and manufacturing. The salary for a director of finance ranges from $100,000 to $200,000 based on your location and industry.
How to Become a Capital Goods Employee
Ready to get started in the best paid jobs in capital goods? The first thing you’ll need to do is find a job. The best place to start is your local employment office. Capital goods is not a large industry, so there may be one in your city. The best way to find them is to look in the yellow pages under “Manufacturing.” To be prepared for a career in manufacturing, you must have a aptitude for math and a desire to learn.
Some high-end manufacturing positions require a college degree, so you should consider attending college if you’re not sure if that’s a good idea for your career or not. If you’re unsure if a college degree is right for you, or you’d rather study on your own, there are plenty of on-line degree programs that provide a good introduction to manufacturing. U.S. News & World Report has a list of the best online manufacturing degree programs.
Tips for those seeking employment in the capital goods industry
- Capital goods employees usually start out low-key and work their way up the production chain. Management and senior staff members often make more money than production workers, and often make more than purchasing managers.
- Capital goods employees are hired through various tiers of companies and have little or no access to senior management.
- Work is often flexible, but it’s not a career changer. Although you may be able to design your own schedule, most positions require a great deal of on-the-job training.
- Some sectors provide good benefits, but others don’t. Make sure you’re aware of what is available, and what is expected of you.
- Be prepared to work weekends and holidays.
- Capital goods employees are responsible for performing a wide range of tasks. You may not be skills-specific, but most positions require hands-on experience.
Conclusion
There are many different types of careers you can pursue in the field of capital goods. In order to work in this field, you need to have a business degree or else, and most importantly have a passion for creating and designing products. However, you don’t have to do this alone. There are many companies that hire individuals with a wide variety of talents to help make their products successful in the market.
If you are interested in capital goods, you need to be creative, driven, and able to work in a team environment. Once you have found the right career for you, you need to be willing to put in the necessary hours and sacrifice money for your job.
Depending on the sector you choose to work in, you can expect to work in an office setting, in a company plant, or in the field. However, it is important to remember that the best paying jobs in capital goods require a significant amount of training, which is usually provided by your employer. Best Paying Jobs In Capital Goods
