Are you seeking employment in the capital goods sector? There is a list of the twelve highest-paying positions in the capital goods sector. Here is a list of the highest-paying capital goods occupations, whether you want to build a career out of them or are simply seeking for a new job that fits your qualifications. But first, let’s discuss the definition of “capital goods.”
What Are Fixed Assets?
Capital goods are physical assets that are purchased for use in the production of other products or services. The majority of items needed to produce other commodities or services are capital goods.
Jobs with the Highest Paying in Capital Goods
1. Engineering Manager
In manufacturing companies, engineering managers coordinate, direct, and plan engineering projects. An engineering manager must possess a bachelor’s degree in engineering and years of relevant experience. This position requires the development of strategies to enhance the engineering division of the organisation.
The annual average salary is $149,530.
2. Project Manager
The majority of capital goods projects last between one and five years, during which time the commodities are routinely manufactured and distributed. This position allows for the long-term expansion or maintenance of a manufacturing facility. The highest-paying project management positions are project manager, project engineer, and project manager.
The annual average salary is $88,688.
3. Marketing Manager
The following are the pay statistics for the marketing manager job on Builtin:
- The average marketing manager salary in the United States is $88,827
- The typical increased monetary pay for a marketing manager is $7,867
- The average pay for a marketing manager in the United States is $96,694
As a marketing manager you’ll:
- Supervise and assist in the development of various advertising or merchandising sales strategies that the company will employ to promote itself and its goods
- Work on a single product, a product line, a brand, or a whole organisation
- Incorporate a variety of creative, research, advertising, and sales team feedback
- Direct one or many marketing initiatives
- Conceive a full marketing plan.
- Recognize a broad opportunity and recruit members of his or her marketing team to generate prospective campaign concepts.
- Orchestrate the required planning and timing accuracy
- Contribute to the design of market research studies
- Analyze the results of market research
- Collaborate with product managers to deliver innovative and enhanced initiatives
- Monitor marketing programme success as a reference for current and future campaigns and tactics
A university degree in marketing is necessary for one of the highest-paying occupations in capital goods in the United States, but postgraduate studies and management disciplines are recommended. People with this job title work standard hours throughout the week, but may be required to spend more time in the office while launching freshly generated campaigns.
4. Manager of Training and Development
Managers of training and development work for a manufacturer of capital goods. They are responsible for the training and development of other staff. This is a crucial position since capital goods companies supply specialised products, such as manufacturing technologies for the electronics industry and transportation infrastructure for the chemicals industry.
The annual average salary is $115,640.
5. Sales Manager
Sales managers oversee a team of salespeople whose responsibility it is to market a company’s products. If they want to offer capital products, they must have a thorough understanding of their production. A sales manager requires a bachelor’s degree in economics, business, or a technical specialty to calculate the opportunity cost and marginal cost of an item.
The annual average salary is $132,290.
6. Software Developer
To function effectively, companies that manufacture capital goods need technical positions such as software developers. In the market for capital goods, software engineers create computer tools and programmes that improve the efficiency of businesses. Even though they do not directly interact with production aspects, they assist capital goods businesses in maintaining profitability.
The annual salary average is $110,140.
7. Mechanical Engineer
A mechanical engineer develops, constructs, and tests machinery used in the production of capital goods. Mechanical engineers ensure that their machines are constructed in accordance with industry standards or customer requirements. In the capital goods business, mechanical engineers’ technical services are very vital.
The annual salary average is $90,160.
8. Credit Administrator
As the economy improves, an increasing number of individuals seek employment. This is excellent news for those in charge of determining whether a person’s credit score qualifies them for a certain product or service.
Credit controllers may work in the accounts payable, accounts receivable, or enterprise resource planning departments, depending on the product and industry. These are crucial positions in an industry where increased demand for a product may cause prices to rise.
Annual salary is $166,973 on average.
9. Management Analyst
In a firm that manufactures capital goods, a management analyst recommends measures to increase productivity. By analysing financial records and industrial data, they devise improved methods of production. This benefits the economy overall.
The annual salary average is $87,660.
10. Quality Assurance Manager
A quality control manager monitors people and the manufacturing process to ensure compliance with quality and productivity requirements. The person in charge of quality control collaborates with clients to ensure that the final goods fulfil their requirements and expectations.
The annual salary average is $72,175 per year.
11. Customer Support Representative
As a means of preventing difficulties with entry-level manufacturing employment, customer assistance, and feedback, customer service professionals are being used.
Customer service representatives may work in customer service departments, sales departments, or marketing departments, depending on the product and industry. Although the majority of them are employed by a single organisation, others may work in many departments to assist consumers with their purchases.
Customer service agent, customer service manager, and customer service manager positions pay the most in the business.
Annual salary is $40,424 on average.
12. Production Director
According to the Pay expert, the average gross salary of a manufacturing manager in the US is $120,840, or $58 an hour. An average manufacturing manager bonus is $9,764. According to the salary expert’s data:
• The average compensation for a manufacturing manager with one to three years of experience is $84,578
• The average compensation for a manufacturing manager with more than eight years of experience is $150,102
If you examine the factory manager’s payment statistics, the predicted compensation growth over the next five years is 11%. In addition to being one of the best-paying jobs occupations in capital goods, a manufacturing manager also has the possibility for more advancement throughout the years. Seizes the chance and performs the following responsibilities:
- Oversee the daily operations of a production plant
- Coordination, planning, and execution of production process operations
- Establish a secure production environment for the machines
- Guarantee efficiency
- Ensure the quality of manufactured materials or products
- Ensure manufacturing proceeds according to plan
- Generate production accounts
- Examine production data and enhance productivity
- Ensure that personnel and equipment satisfy performance and safety specifications
- Be vigilant for process hiccups and enhance operations
- Employ, train, and assess the performance of employees
- Supervise personnel and assign tasks to employees
- Communicate with other divisions (finance, human resources, logistics, etc.)
You will also need a bachelor’s degree in business, manufacturing, or engineering. Again firms desire previous experience in management or manufacturing, great communication, organisational and interpersonal abilities, and excellent team-building skills.
13. Electrical Engineer
According to Career explorer, the average pay of an electrical engineer in the United States is around $100,420 per year. Additionally, there are several compensation categories depending on seniority:
- An expert-level electrical engineer earns $78.33 per hour and $162,930 per year.
- The hourly wage of a senior-level electrical engineer is $61.81 and the annual wage is $128,560.
- A middle-level electrical engineer earns $48,28 per hour and $100,420 per year.
- A junior-level electrical engineer earns an hourly pay of $37.74 and an annual one of $78,500
- An entry-level electrical engineer receives $29.98 per hour and $62,360 per year.
If your aim is to work in the area of electrical engineering and have one of the best paying jobs in capital goods, then you should consider becoming an electrical engineer. You will have the opportunity to do the following as an electrical engineer:
- Check out electrical systems, products, parts, and uses
- Develop and implement research initiatives
- Employ electrical and material knowledge
- Validate system and component capabilities
- Enhance electrical items by analysing client needs
- Research and test production
- Develop manufacturing processes by modifying designs and equipment
- Guarantee the quality of goods
- Evaluate final goods and system capabilities
- Prepare product reports
- Providing engineering data by responding to inquiries and requests
- Maintain product and business reputation by adhering to federal and state requirements
Most companies demand an electrical engineering bachelor’s degree. If you work for the government or a federal contractor, you will also be required to get licences. The state-specific criteria for obtaining a licence often involve passing an examination and possessing a certain number of years of work experience. All of you new grads don’t worry! There is an alternative for pre-licensure certification for you.
14. Manager of Business Development
The salary indicates how much a business development manager in the United States earns. As of 26 July 2022, the average annual compensation of a business development manager is $130,023, with a normal range between $110,709 and $150,013. The wage range varies based on:
- Additional Skills
- Expertise within the field
If the role of business development manager appeals to you, you will be responsible for the following:
- Keep an eye on a group of business development reps.
- Develop business strategies to promote the expansion of the organisation.
- Establish strategic partnerships with partners and prospective clients
- Collaborate with other departments to ensure that corporate objectives are aligned
- Evaluate data to predict the profitability of future business deals
- Design and establish the conditions of a commercial contract
For the position of business development manager, a bachelor’s degree in business, finance, or marketing is required. In addition to a degree, at least five years of experience in a relevant field is required to get one of the highest-paying positions in capital goods.
Here are some of the most commonly asked questions concerning capital goods.
Is Capital Goods a good career path?
Capital Goods is a lucrative profession. The Capital Goods Industry is a significant economic sector that provides graduates with employment opportunities in several sectors.
As a specialist in capital goods, you may help people perform their jobs better and contribute to the global economy by developing and constructing the machinery upon which contemporary economies rely, such as aircraft, automobiles, and power plants.
What Types of Capital Goods Exist?
Electronics, machinery, chemicals, steel, textiles, and automobiles are all examples of capital goods.
Are capital goods jobs pay lucrative?
Yes, Depending on your education, talents, and experience, the typical annual salary ranges from $50,000 to $90,000. According to Salary.com, the annual salary range for an Engineering Manager in the United States is between $123,330 and $155,055.
Career Perks in the Capital Goods Industry
Here are some solid arguments for working in the Capital Goods Industry.
1. opportunities for promotion
There are several opportunities for professionals in this area to enhance their careers. A worker may advance from an entry-level production position to a management position such as plant operator or quality control inspector.
2. Opportunities for novices.
Several occupations in the capital goods industry do not need prior work experience. On-the-job training is a better alternative than certificates or internships since it is more useful.
Anyone may develop essential skills and obtain valuable job experience that will assist him in the long term.
3. Working on a genuine project.
This industry is about producing things that can be seen and handled. Because of this, individuals can see the genuine rewards of their hard work, which is highly fulfilling. This is significantly different from employment, where the outcomes are frequently not obvious.
Capital Goods Jobs is one of the employment sites that is expanding the fastest. It is a marketplace where the purpose is to identify competent individuals for a broad variety of manufacturing-related occupations. In the 21st century, it is an excellent job to have.