There are hundreds and thousands of best paying jobs in capital goods sector. Some of them can earn an annual salary of $166,000 to as high as $342,920 per year with minimal stress. If you are still confused if capital goods is a good career path, then this article would recommend some of the highest paying jobs so you can weigh your options.
As we earlier stated in our previous article, the best paying jobs are the ones usually occupied by key managerial positions and these positions require good qualifications, years of experience, and as well as determine the company you are working with.
Best Paying Jobs In Capital Goods 2023
Below are the highest and the best paying jobs in capital goods to get started.
1. Mechanical Engineer
This job role requires a university degree in the engineering field. You can earn an annual median salary of about $90,160. A mechanical engineer designs, develops, and tests the equipment needed to manufacture capital goods before they are shipped to the final manufacturing companies.
Machines designed by mechanical engineers must be manufactured in accordance with industry standards or customer specifications.
By offering technical services, mechanical engineers play a crucial part in the capital goods sector.
2. Management Analyst
Management Analysts also earn a good amount which put the role as one of the best paying jobs in capital goods due to its high demand in the economic market. They earn an annual median salary of $87,660. An analyst for management provides recommendations to increase productivity at a manufacturer of capital goods.
They maximize economic potential by analyzing financial documents and industrial data to develop more efficient manufacturing procedures.
3. Quality Control Inspector
With an annual salary starting from $40,460, a quality control manager inspects and checks each shipment of capital goods products for any faults.
They also ensure that products comply with legal criteria. Capital goods companies rely on quality control inspectors for crucial technical services so that the manufacturing process produces high-quality products.
4. Training and Development Manager
Training and development managers are in charge of developing other employees in a capital goods organization. It’s also one of the highest and best-paying jobs in capital goods one can earn as high as $229,000 annually.
Capital goods companies play a crucial role in this industry since they provide specialized commodities like manufacturing technology for the electronics industry or shipping infrastructure for the chemicals industry.
They can earn a median yearly salary from $115,640 to as high as $229,000 annually depending on the size of the company, years of experience, and qualifications. This role is also not an entry position hence it comes with really good pay.
5. Engineering Manager
If earning $149,530 annually means something to you, then engineering manager is the role you want to fight your way through. Engineering managers coordinate, oversee, and plan engineering projects in a capital goods business.
An undergraduate degree in engineering and years of professional experience are prerequisites for engineering managers.
It also includes developing plans to improve the engineering division of the business.
6. Industrial Engineer
Industrial engineers earn up to $88,950 annually and can earn up to $167,000 depending on other factors. Industrial engineers in the capital goods sector make ensuring that the machinery used in production is in good working condition.
In addition to machine maintenance, a manufacturing facility’s workflow is created to maximize effectiveness and streamline operations.
7. Marketing Manager
A marketing manager piques clients’ interest in the products of the business. The role is a very important one in any business and so they earn a good amount up to $141,490 annually.
The marketing manager of a capital goods company must be aware of the particular requirements of the industry they serve. Managers of marketing and sales work together to determine the product’s market pricing.
8. Electrical Engineer
Electrical engineers can earn a median annual salary of up to $103,390 making it one of the best paying jobs in the capital goods industry also due to its high demand.
Electrical engineer created and constructed all of the electrical infrastructures to meet the special requirements of capital goods manufacturing facilities.
They not only design and construct the electrical parts of the industrial machinery, but they also maintain all of this custom-built machinery.
9. Sales Manager
With an average annual salary of $132,290, sales managers are key roles in the capital goods industry. The sales manager oversees a sales team that works to promote a company’s products.
They must have a deep understanding of the capital goods production process in order to market capital goods products.
To calculate the opportunity cost and marginal cost of the products, sales managers need a bachelor’s degree in economics, business, or a closely related technical field.
10. Software Developer
Capital goods businesses depend on technical positions like software developers to run effectively.
Thanks to the software developers’ computer apps and programs, capital goods enterprises can operate more successfully.
Despite not being directly related to the factors of production, they assist the capital goods companies’ ongoing profitability. They earn a median annual salary of about $110,140. They can earn more than that depending on other factors.
Are Stocks Examples of Capital Goods?
No, stocks are not an example of capital goods. For something to be regarded as a capital good in essence it has to be very important to the production of another good. And also it has to be man-made for it to be called capital goods.
In A Nutshell;
The best paying jobs in capital goods include;
- Mechanical engineers
- Management Analysts
- Quality control Managers
- Training and Development Manager
- Engineering Manager
- Industrial Engineer
- Marketing Manager
- Electrical Engineer
- Sales Manager
- Software Developer
These jobs are all hot in demand and one can start as an intern, as an entry position, or as an experienced applicant. There are more than a thousand jobs available in this job market so you won’t have difficulty finding a job for yourself when you venture into any career path.