Before pursuing a career in capital goods, you may wonder, ‘what do capital goods jobs pay?’ In this career path, there are several jobs of different hierarchies with different pay for each. So what do capital goods jobs pay on average, and what are the best paying capital jobs among the several options?
Workers in the capital goods career path earn from $50,000 to over $100,000 yearly, making it a well-paying field. Jobs like senior mechanical engineers, engineering managers, directors of manufacturing, product development engineers, and sales engineers are some of the highest-paid. These professionals coordinate capital goods activities and earn eighty thousand to hundreds of thousands of dollars annually.
What do you need to learn about capital goods jobs, and what do capital goods jobs pay? Continue with this informative post for more comprehensive information.
What Are Capital Goods?
Capital goods are goods that a consumer can’t use directly. They serve as a company’s resource to create products or render services that the company eventually purchases.
Buildings, equipment, tools, cars, machines, etc., are capital goods. The capital goods sector comprises companies that manufacture and sell finished goods. These companies include construction, defense, aerospace, and engineering groups.
Is Capital Goods a Good Career Path?
The capital goods industry is a promising career path for young professionals. It allows you to develop your skills and expertise while earning sufficient income. Furthermore, there are several job opportunities available in the field.
What Do Capital Goods Jobs Pay?
So what do capital goods jobs pay workers in the United States? Several jobs are available in the capital goods industry, each with its pay. However, the average capital goods job pay between $50,000 to $100,000 yearly, making it a well-paying job.
Below are some of the highest paying capital goods jobs with what they do:
Senior Mechanical Engineers
The Senior Mechanical Engineers are one of the top workers in the capital goods industry. They are in charge of supervising the process of production of the goods.
These individuals earn between $80,000 to $90,000 yearly and even beyond in some cases. You’ll need a bachelor’s in Engineering to qualify as a Senior Mechanical Engineer. Their job also requires certain years of experience.
Engineering Managers can be seen as individuals who preside over the company’s engineers. They are in charge of the entire engineering process, overseeing and coordinating the activities.
To be an Engineering Manager, you’ll need a Bachelor’s degree in Engineering and several years of working experience. An Engineering Manager earns an average of $90,000 to $100,000 and could earn as much as $105,000 a year.
Directors of Manufacturing
A Director of Manufacturing is in charge of the entire production facility. They are responsible for hiring new staff, timing the production, and seeing its smooth process. They build and regulate a product’s standards by working with engineers, designers, and quality assurance personnel.
They require a degree in management skills and several years of experience. In some companies, they may also require a degree in industrial engineering. These people go beyond the regular average and could earn up to $200,000 yearly.
Product Development Engineers
The Product Development Engineers come into play at the inception of a product. They are in charge of designing, testing, and creating product prototypes. Also, they access the full features of the products to ensure it complies with set standards and requirements.
Though they may only need their bachelor’s in Engineering, a Masters is an upper hand. They may also need prior knowledge of the background of the industry’s products. Product Development Engineers earn an average of $82,000 yearly.
Sales Engineers are tech experts who employ cutting-edge technology skills in product manufacturing. They look into how they can use products to benefit customers, appeal to them, and eventually sell.
These individuals require a bachelor’s degree in any closely related field. If one doesn’t have a degree, they may get the job with several years of experience. They could earn up to $87,000 annually.
The jobs in the capital goods industry include director of manufacturing and senior mechanical engineer, with pay ranging from $50,000 to 100,000 annually. These are just a few of many jobs in the industry. Several other well-paying jobs are available to individuals like you.