Guide To The Best Paying Jobs In Capital Goods, 2022

When hunting for a career that has a great pay, it would be wise to consider a job in the capital goods industry.

At a glance, capital goods jobs are those that produce equipment used in other industries to manufacture products and provide services. Examples of capital goods include machine tools, material handling equipment, and textiles.

This guide will look at the best paying jobs in the capital goods, companies in this industry, as well as what education and skills are needed to pursue a career in capital goods.

What are Capital Goods?

Overall, goods are generally categorized as either consumer goods or capital goods. Capital goods, are used in the production of other goods or services. It’s important to note that these are not final end-products, rather they are used in further production processes.

Consumer goods are different to capital goods because they’re not used in the production process, but rather for personal consumption.

Capital Goods Examples

Some common examples of capital goods include:

  •  Machinery, tools and parts
  • Electronics: semiconductor manufacturing equipment, industrial, and telecommunications, among others.
  • Material handling equipment: such as cranes, and conveyors
  • Textile: nylon, wool, cotton
  • Chemicals: natural gas, oil, minerals

12 Best Paying Jobs In Capital Goods

People who choose careers in capital goods can find themselves with a variety of job titles and roles. Some of the best jobs in this category include:

Read More: Is Oilfield Services Equipment a Good Career Path for You?

1. Senior Product Manager

Salary in Investment Services Career Path
Source: theforage.com

This is a job for people who have a passion for product management and want to play a key role in the success of a company. As a senior product manager, you will be responsible for developing and managing products from conception to launch.

This includes market research, product development, pricing, promotion, and distribution. To be a successful Senior Product Manager, you should:

Have a strong understanding of the market and be able to clearly communicate the product vision to their team.

Be able to work cross-functionally with other departments such as Engineering, Design, and Marketing.

Highly organized and can handle multiple projects simultaneously.
Able to make quick decisions in a fast-paced environment.

The pay range for a Senior Product Manager is typically $120,000 to $150,000 per year in the U.S.

2. Global Strategic Product Manager

Global Strategic Product Manager
Source: freepik.com

The Global Strategic Product Manager is responsible for defining and executing the go-to-market strategy for assigned products. This includes developing and implementing plans to drive awareness, adoption, and revenue growth.

The role requires a deep understanding of the market landscape, customer needs, and competitive landscape. The Global Strategic Product Manager must be able to translate this knowledge into actionable plans that deliver results. They must also be adept at working cross-functionally and have a track record of driving consensus and alignment.

The pay range for this position in the U.S. is $120k to $140k per year.

3. Field Application Engineer

Field Application Engineer
Source: freepik.com

A Field Application Engineer (FAE) is a professional who provides technical support and training for customers and distribution partners of a company. As the customers’ main point of contact, they play a vital role in maintaining customer satisfaction. The responsibilities of an FAE include:

  • Providing on-site support
  • Conducting customer training
  • Developing technical materials, and
  • Acting as a liaison between the customer and the company.

They must have strong problem-solving skills and be able to think on their feet. In terms of qualifications, an FAE typically has a bachelor’s degree in engineering or a related field.

The pay for Field Application Engineer ranges from $50,000 to $80,000 per year.

Read More: 15 Best Paying Jobs in Integrated Oil Companies

4. Electrical Engineer

Electrical Engineer
source: bestcolleges.com

Electrical engineers are responsible for designing, developing, testing, and supervising the manufacture of electrical equipment, including communications and broadcast systems, power generation equipment, electric motors and control systems.

They may also work on projects such as aircraft electrical systems, automobile electronics, and medical imaging equipment.

In terms of pay, electrical engineers typically earn a median annual salary of $86,640.

5. Manufacturing Engineer

Manufacturing Engineer
Source: freepik.com

As a Manufacturing Engineer, you are responsible for the efficient assembly of products and for developing, improving, and troubleshooting manufacturing methods.

They work with production managers and other engineering staff to optimize production processes and ensure that products meet quality standards.

In terms of pay, most typically earn a salary in the range of $70,000 to $80,000 per year.

To qualify for this position, candidates should preferably have some experience working in manufacturing, and strong problem-solving skill.

6. Civil Engineer

Civil Engineer
Source: freepik.com

The responsibilities of a civil engineer are varied and wide-ranging, and often involve the design and construction of bridges, roads, and other infrastructure, or may focus on environmental issues such as water quality and flood control.

In other cases, they may also be responsible for overseeing the construction process.
According to the U.S. Bureau of Labor Statistics, the median annual salary for civil engineers was $86,640.

Read More: 15 Best Paying Jobs in Natural Gas Distribution

7. Chemical Engineer

Chemical Engineer
Source: Pexels.com

Chemical engineers apply the principles of chemistry, to solve problems pertaining to production or use of chemicals, fuel, drugs, food, and other products.

They may work in a variety of industries, including the pharmaceutical, food & beverage, and biotechnology industries. This means they are largely suited to work in R&D departments, as they are able to apply their knowledge of chemical reactions to develop new products and processes.

The median annual salary for chemical engineers is $102,160.

8. Maintenance Manager

Maintenance Manager
Source: freepik.com

The role of a Maintenance Manager is to ensure that the equipment and machinery in a factory or other industrial setting are properly maintained and repaired. This includes planning and supervising the work of maintenance staff, as well as keeping records of all maintenance work carried out.

Maintenance Managers typically earn a salary in the range of $76,535 and $91,939 per year.

It’s essential that Maintenance Managers have experience working in a similar role, as well as strong leadership and communication skills.

9. Industrial Engineer

Industrial Engineer
Source: freepik.com

Industrial Engineers are responsible for improving the efficiency of production processes in factories, plants, and other industrial settings. This involves optimize workflows, designing new production processes, and developing plans to implement these changes.

They may also be responsible for managing projects and overseeing the work of other engineers.

Industrial Engineers typically earn a salary in the range of $69,540 and $84,930 per year.

10. Quality Engineer

quality inspection
Source: titoma.com

If you have an eye for detail and a passion for ensuring that products meet high quality standards, then a career as a Quality Engineer could be the perfect fit for you.

The responsibilities of a Quality Engineer include developing and implementing quality control procedures, conducting audits, and investigating customer complaints. They also work closely with other departments to ensure that quality standards are being met at every stage of the production process.

The median annual salary for Quality Engineers is $85,880.

11. Category Manager Capital Expenditures

Category Manager Capital Expenditures
Source: freepik.com

The Category Manager of Capital Expenditures is responsible for the development and execution of the Category Management plans for capital projects and services within their assigned area.

This includes:

  • Developing and managing relationships with key suppliers
  • Negotiating favorable contracts, and
  • Ensuring compliance with purchasing policies and procedures.

They work closely with other members of the procurement team to ensure that all capital projects are completed on time and within budget.

They must have a strong knowledge of capital expenditure processes and be able to effectively communicate with suppliers and other members of the organization.

Salary Range: $85 to 95K per year.

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12. Engineering Managers

Engineering Managers
Source: freepik.com

Different types of engineering managers include civil engineering managers, electrical engineering managers, and mechanical engineering managers. They are responsible for planning, directing, and coordinating the activities of engineers in their respective fields.

This includes:

  • Reviewing project proposals to determine procedures for accomplishing projects, deadlines, staffing requirements, and funding limitations through the various phases of projects.
  • Establishing work plans, and
  • Reviewing work progress on a regular basis and directing the adjustment of schedules or resources as necessary.

Engineering Managers typically earn a salary in the range of $140,760 and $154,390 per year.

 

Pros And Cons Of A Career In Capital Goods

Now that you know some of the best paying jobs in capital goods sector, you might be wondering if this is the right career path for you. Here are some pros and cons to consider:

The Pros:The Cons:
Great Pay

As we’ve seen, jobs in the capital goods sector tend to pay quite well. If you’re looking for a career that will help you earn a good income, this is a great option. The form of payment also varies depending on the company you work for. Some companies offer bonuses and commission, while others offer stock options.
Can Be Challenging

While there are many advantages to working in the capital goods sector, it’s important to note that it can also be challenging. Because this sector is constantly changing, you’ll need to be able to adapt to new situations and learn new things quickly.
Stability

Another big advantage of working in the capital goods sector is that it tends to be very stable. Unless there’s something major happening in the economy, businesses will always need capital goods. This means that there are plenty of job opportunities in this sector, even during tough economic times.
Not always as Creative

If you’re looking for a career that is creative and allows you to use your imagination, the capital goods sector might not be the best option. While there are some jobs that are more creative than others, most jobs in this sector are focused on practicality and function.
Opportunities for Growth

If you’re looking for a career with lots of room for growth, the capital goods sector is a great option. There are multiple jobs within the sector, and because this sector is always changing and evolving, there are always new opportunities for growth.
Health and Accident Hazards

Working in the capital goods sector exposes you to more health and accident hazards. Because this sector Involves working with heavy machinery and equipment, there is always the potential for accidents.

Common Industries in Capital Goods

  • Textile Industry
  • Machinery Industry
  • Chemical Industry
  • Steel Industry
  • Motor Vehicles and Parts Manufacturing
  • Aerospace Product and Parts Manufacturing
  • Electrical & Electronics Equipment Manufacturing
Read More: Is Investment Bankers/Brokers/Service A Good Career Path For Graduates? | 2022

What Are Examples Of International Brands That Deal In Capital Goods?

If you’re interested in working in this sector, there are a ton of attractive options to choose from. Some of the best-known brands include:

  • Caterpillar Inc.— Estimated 10,000+ employees globally.
  • Deere & Company— Estimated 10,000+ employees globally.
  • Hitachi Construction Machinery Co., Ltd.— Estimated 4,500+ employees globally.
  • Komatsu Ltd.— Estimated 15,000+ employees globally.
  • Honeywell International Inc.— Estimated 130,000+ employees globally.
  • General Electric— Estimated 305,000+ employees globally.
  • Boeing— Estimated 160,000+ employees globally.
  • Airbus— Estimated 136,000+ employees globally.
  • Wirtgen Group— Estimated 7,000+ employees globally.

Frequently Asked Questions About Best Paying Jobs In Capital Goods

Q: What is the Capital Goods Sector?

The capital goods sector is the portion of the economy that deals in production of capital goods. This sector includes industries such as manufacturing, construction, and mining.

Q: What are some Examples of  Best Paying  Jobs in Capital Goods?

Most jobs in the capital goods sector tend to pay relatively well. Some examples of best paying jobs in this sector include engineers, managers, and executives.

Q: What are the Disadvantages of Working in the Capital Goods Sector?

Some of the potential disadvantages of working in the capital goods sector include long hours, health and safety hazards, and less creativity.

Q: What are the Benefits of  Working in the Capital Goods Sector?

Some of the benefits of working in the capital goods sector include good pay, job stability, and opportunities for advancement.

Final Takeaway

Working in the capital goods sector can be both rewarding and challenging. While there are some disadvantages to working in this field, such as long hours and health and safety hazards, there are also many benefits, including good pay and job stability.

If you’re interested in a career in this sector, be sure to research the best paying jobs in your field. With the right skills and training, you can land a high paying job in the capital goods industry.

The Ultimate Guide To The Best Paying Jobs In Capital Goods, 2022

The Ultimate Guide To The Best Paying Jobs In Capital Goods, 2022
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This guide will look at the best paying jobs in the capital goods, companies in this industry, as well as what education and skills are needed
This guide will look at the best paying jobs in the capital goods, companies in this industry, as well as what education and skills are needed
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