Finding the best-paying jobs in capital goods can be highly rewarding. The industry is involved in the creation of tangible goods, and workers have higher possibilities of advancing their careers on the job.
The capital goods industry has a wide range of departments and positions, including transportation, aerospace, construction, defense, and so on. It’s one of the most important sectors of the economy, and given the innovative nature of this field, there is always a high demand for skilled workers.
What Are Capital Goods?
Before we get into details, you might be wondering, what are capital goods? These can be described as physical assets purchased for use in the production of goods and services.
Companies in the capital goods industry manufacture goods that are used in the production of other goods. This covers everything from buildings, vehicles, machinery, and equipment.
What Are the Qualification Requirements?
For the most part, the best paying jobs in capital goods require an Associate’s degree or higher education. A bachelor’s degree gives you better work opportunities and higher pay. That said, several positions don’t require prior work experience, and on-the-job training is usually provided.
The Best Paying Jobs in Capital Goods
Jobs in the capital goods industry can pay as high as $150,000 depending on your level of education and experience. Most of these jobs also have great benefits. Below, we’ve listed some of the high-paying jobs in capital goods that are both challenging and fulfilling.
1. Manufacturing Engineer
As a manufacturing engineer, your primary roles include the planning and execution of manufacturing processes. You’ll also focus on the design and operation of integrated systems to ensure the production of high-quality products.
You could be responsible for handling robots, machine tools, computer networks, and other equipment. A manufacturing engineer requires the following skills:
Knowledge of equipment
Average salary: $93,000 per year up to $130,000, depending on the company and location
2. Quality Control Engineer
The work of a quality control engineer is to ensure all products are efficiently produced and meet quality standards. Other roles include supervising team members and overseeing product development procedures.
This position also requires you to work with clients to ensure the end product meets their standards and demands.
Average salary: $72,175 annually
3. Electrical Engineer
An electrical engineer's responsibilities entail designing, developing, testing, and overseeing the manufacture of electrical equipment, including radar and navigation systems, electric motors, and communications systems.
They are also involved in designing electrical equipment for automobiles, aircraft, and basically any product that involves electricity. You will need an excellent understanding of mathematics, including physics and calculus.
Electrical engineering jobs are among the highest-paying jobs in capital goods with an upper limit of as high as $200,000 per year.
Average Salary: $78,016 per year
4. Senior Mechanical Engineer
Your role as a mechanical engineer is to design the machinery used to produce equipment, tools, and instruments required to create or deliver goods. It’s a lucrative job and an important position since you’ll be tasked with ensuring mechanical devices and systems function as expected.
Most of these professionals work in private companies, like Boeing, and require at least a bachelor’s degree.
Average Salary: $110,329 (up to $200,000 per year depending on experience and company)
5. Industrial Designers
Industrial engineers conceive a concept for products that would eventually be created. This can be in different sectors like cars, home appliances, toys, and electronics. This career combines art, business, and engineering to produce products that are required for daily use.
To excel in this field, you need to have a degree in industrial design and several years of experience.
Average salary: $74,000 per year
6. Maintenance Engineer
The job of a maintenance engineer is to ensure the proper functioning of expensive manufacturing equipment. These are individuals who’ll know how to fix things when they break so that work processes flow seamlessly.
You require work experience or technology to land a great position, although you can become a maintenance engineer through apprenticeship.
Average salary: $71,000 per year
7. Research and Development Engineer
Another best paying job in capital goods is working as a research and development engineer. The main responsibilities include managing and directing the research and development programs to meet organizational needs.
They also focus on developing and implementing research and development techniques and procedures.
Average salary: $144, 000
8. Business Development Manager
Your role as a business development manager is to plan, direct and coordinate business development activities in a typical capital goods company. You’ll also be responsible for setting goals and development plans directed toward company growth.
Additionally, you’ll research, plan, and implement new target market initiatives, as well as pursue leads and guide them through the sales cycle.
Average salary: $75,544
Where to Find Capital Goods Jobs
Job sites like LinkedIn, Naukri, and Glassdoor offer online platforms to find jobs in capital goods. LinkedIn is particularly known for helping job applicants connect with employers in their preferred fields of work.
Plus, most of the jobs posted on LinkedIn are genuine. Capital goods jobs are high-paying, and generally, your work experience and qualifications will determine your starting salary.