If you are planning to begin a career that offers you a handsome salary but is in a state of confusion about whether capital goods is the one that can build your career then you are going to find this article pretty helpful. The capital goods industry is a palace that offers you high-paying jobs and it offers you a salary that is quite higher compared to other industries. To simplify things, capital goods are used to produce other goods like machines, computers, vehicles, tools, etc. Most of the employers involved in the capital goods sector are private businesses. Let us know some Best-Paying Jobs In Capital Goods.
Some of the best-paying jobs in capital goods are Engineering Manager, Architectural and Engineering Manager, Marketing Manager: Mechanical Engineer, Computer-Aided Design Technician, Quality Control Inspector, Industrial Production Manager, Business development manager, Machine Learning Scientist, Metallurgical Engineer, General and Operations Managers, Petroleum Geologist, Principal Research Associate, Quality Assurance Manager, Industrial Engineer, Manufacturing Engineer, Industrial Designer, Sales Engineer, etc. Let us discuss these high-paying jobs in detail.
What are Capital Goods?
All the various tangible assets which are used in the production as well as distribution of consumer goods are known as capital goods. For instance, building, machinery, equipment, automobiles, tools, etc. The same goods can be both consumer and capital ones depending upon their use. This is a vast industry with big companies which manufacture goods, and equipment of all shapes and sizes that other businesses make use of to manufacture everyday goods that we use.
List of Best Paying jobs in Capital Goods
Architectural and Engineering Managers
Architectural and Engineering Manager is one of the highest-paying jobs in this industry of capital goods. As an Architectural and Engineering Manager you will have to plan, direct and coordinate in the areas of construction, engineering, and manufacturing industries. But in this job, you will be given a lot of responsibilities and the main reason behind this is that the whole division has to be under your supervision and you need to ensure everything works so smoothly. You need to have good academic qualifications i.e. at least a Bachelor’s degree in Engineering and experience of many years to qualify for this job. You can earn up to $152,350 per year.
Marketing Manager
Marketing is an important factor that can heavily impact the success and failure of a company through the goods that are produced by the capital industries that aren’t targeted at the consumers. Here the marketing is done on a large scale and mainly targeted at some potential businesses. As a marketing manager, you will need to do the planning, preparation, and execution of the various marketing schemes for the products manufactured by the company. You will need to have a bachelor’s degree in marketing and the annual pay for this position can be about $133,380.
Quality Control Inspectors
As a quality control manager, your role will be to check the quality of the produced goods. We have listed this position in this article for some specific reasons though the pay for this job is pretty low compared to other jobs in our list. The pay for your job completely depends upon the type of goods you inspect. You have a plus point that you only need a high school diploma to get this particular job and you need no prior experience at all. Then you also have opportunities of doing overtime duties besides your regular hours. This way you can make some extra money besides your salary. You can earn up to $35,580 annually. Quality control managers need to have good academic qualifications as well as experience.
Manufacturing Engineer
As a manufacturing engineer, you have to incorporate math, science, and technology to develop products. You have to create designs as per the requirement of your clients and need to test prototypes before manufacturing the final product. A manufacturing Engineer keeps on improving efficiency, lower manufacturing costs, and trying to improve productivity to avoid potential risks. You also have to team up with other engineers to be sure that the final product is perfect and meets all your expectations. There will also be an additional need to be in touch with salespersons, human resource officers, and marketing specialists. If you have a bachelor’s degree in engineering and a few years of experience in manufacturing then you can easily get this job. You can earn up to $77,000 per year as a manufacturing engineer.
Mechanical Engineer
As a mechanical engineer, you will be in charge of the product designs and the supervisor of a product’s manufacturing process. The basic eligibility for this job is a bachelor’s degree in engineering and a few years of exposure to the industry. You can draw a salary of $92,000 per year as a mechanical engineer in America.
Machine Learning Scientist
As a machine learning scientist, you need to help different business companies to create certain products or services by creating various types of software that they can learn on their own. Companies try to study the behavior of consumers, identify specific patterns, predict future behavior, etc. Machine learning scientists need to have skills in AI, mathematics, and statistical modeling to cope with computer models. Since this position requires you to communicate with other people and work closely with employees of other departments, you need to have sound interpersonal skills. As a machine learning scientist, you can earn as much as $161, 000 per year.
Metallurgical Engineer
If you specialize in metal materials then you can work as a metallurgical engineer. As you all know that metals are very important for industrial activities. For instance automobiles, skyscrapers, household appliances, etc everything make use of metals. This is very useful for equipment related to production. Metallurgical engineers study the nature of metals to find out better ways of making them more productive. They also analyze the existing alloys to calculate their suitability for using them. You will need a chemical engineering degree and talk, and at least a professional experience of about 10 years in this particular field. You can also have specialization in a particular type of alloy. For example aluminum alloys, stainless steel, etc.
Manufacturing Manager
Manufacturing engineers have the duties like coordinating, planning, and monitoring the everyday activities that are related to the production process, ensuring that the machines are properly placed in the workplace, checking the quality of the manufactured goods, ensuring a smooth production process, preparation of production reports, reviewing production data and improvement of efficiency, ensuring that both employees, as well as the machines, meet their expected performance, recruiting, training and analyzing the performance of the workers and staffs, monitoring staffs and assigning duties and responsibilities to them, communicate with other departments like HR, Logistics, etc. You will need to have a bachelor’s degree in engineering or manufacturing. Some companies offering this position also require you to have experience in manufacturing, communication, team-building, and interpersonal skills. The average salary of a manufacturing engineer is $84,578 per year with three years of experience and as much as $150,102 if you have an experience of about eight years.
Project Manager
Your role as a Project Manager is to be in charge of certain projects and handling all the activities of the project, planning, monitoring, and reporting, preparing methodologies using project management techniques till it is completed, and various other tasks. A project manager also acts as a liaison officer between the top-level management and the stakeholders who are there to manage the entire project till it is completed. Besides these, a project manager has to ensure the smooth execution of the project. Hence it is very important to monitor the speedy progress of the project and report the activities surrounding the project to the management from time to time. You need to have a bachelor’s degree in IT, computer science, or in Business management to apply for this role. This is quite a high-paying job and you can earn as much as $92,036 per year. If you have good experience in this field then you can earn as much as $131,796. Entry-level project managers can earn up to $67,578 per year.
Sales Engineer
In the industry of capital goods, there are requirements for sales engineers who are those people who have specializations in selling goods to customers which are technologically as well as scientifically complex. Sales engineers try to convince their customers that the products manufactured by them are superior to those of the rival companies. While doing so they incorporate the technical knowledge they have. They even describe to the customers the pros and cons of the product they offer. You can earn as much as $74,690 for this role and thus this is one of the high-paying jobs in the capital industry.
Research And Development Manager
Another high-paying job in the capital industry is an R&D manager or Research and Development manager. The role of this position is to take research-related initiatives to meet the requirements of the company, boost sales and develop new products as well. Research and Development managers also develop innovative research and development methods and incorporate them into practice. In the US, a research and development manager is likely to earn a salary between$127,242 and $167,844. On average you can earn up to $146,091 per year.
Petroleum Geologist
A petroleum geologist is a professional in geoscience whose major role is to identify oil reserves and measure temperature as well as pressure to predict where oil could be located. There is a role similar to petroleum geologists who are known as petroleum engineers. They find out the locations where drilling works could be done and also decide what kinds of oil should be drilled. You need to have a bachelor’s degree in geology, chemistry, mathematics, earth science, or engineering to apply for this job. Besides this, you also need to have certain skills like knowledge of geosciences, the process of data collection and analysis, and decisions based on research.
Conclusion
There are tons of jobs in the capital goods industry. The jobs offer salaries that are not fixed but vary. The salaries depend on the experience you have and the expertise you have acquired in a particular field of work. There are a lot of options available for you to choose from. We would suggest that even if you have stepped into the industry always prepare for high-paying jobs. Very soon you will be able to climb the stairs of success and enjoy high salaries along with some additional benefits.
FAQ
How do I search for the best-paying jobs in capital goods?
If you have an engineering degree and about 4 to 6 years of experience in a related field then you are likely to get a good job in this industry. You can seek entry-level positions and even internships in this industry.
What is the prospect of the capital goods industry?
The global economy has shown tremendous growth over the past few decades and this has resulted in an increased demand for capital goods. Hence, if you have good skills and experience that there is a great scope in this industry.
Is it possible to get a tech job in the capital industry?
Of course yes! You can easily get tech jobs in the capital industry. Some organizations deal in capital goods and thus require some tech professionals who are software engineers. Because of automation in the manufacturing industry, there are a lot of requirements for software engineers in the capital industry.
Is it possible to earn more than $100,100 in this industry?
Yes, it is very much possible to expect an annual salary that exceeds $100,000. Software developers and specialized engineers can expect high salaries in the capital industry.
