Looking for the best paying jobs in capital goods? Well, According to the Bureau of Labor Statistics, capital goods are non-durable consumer products used to produce other goods and services.
Capital goods businesses manufacture machines, equipment, and tools used to produce other goods.
Examples of capital goods include hand tools, power tools, machinery, computers, software, construction materials and industrial chemicals.
Jobs in capital goods can range from industrial engineers working on production lines to corporate strategists managing an organization’s supply chain.
Still, the best paying jobs in capital goods tend to be high-ranking management positions.
To remain relevant in today’s job market, you must understand which capital goods positions pay the most money and offer the most job security to potential employees.
This helpful guide will discuss some of the highest paying jobs in capital goods and why they offer such high salaries to their employees.
Here is a break down of what we will be covering today.
27 Best Paying Jobs in Capital Goods
Use this list of the 27 best paying jobs in capital goods with average salaries to find the position that fits your needs and qualifications!
|Best Paying Jobs in Capital Goods||Average Salary|
|1) Engineering Managers||$148,038|
|2) Information Technology Director||$144,020|
|3) Manufacturing Manager||$115,485|
|4) Product Manager||$113,446|
|5) Research and Development Manager||$111,352|
|6) General Manager||$109,994|
|7) Software Developers||$108,249|
|8) Marketing Director||$105,672|
|9) Category Manager||$93,792|
|10) Business Development Manager||$93,608|
|11) Robotics Engineer||$93,364|
|12) Project Manager||$92,608|
|13) Industrial Engineer||$87,423|
|14) Quality Control Manager||$87,144|
|15) Sales Engineer||$87,084|
|16) Mechanical Engineer||$84,982|
|17) Electrical Engineer||$82,161|
|18) Sales Representative||$79,995|
|19) Business Analyst||$77,218|
|20) Manufacturing Engineer||$76,091|
|21) Management Analyst||$73,725|
|22) Contract Administrator||$69,142|
|23) Training and Development Manager||$66,870|
|24) Industrial Designer||$65,235|
|25) Computer-Aided Design Technicians||$43,361|
|26) Warehouse Worker||$34,145|
1) Engineering Managers
The top job in capital goods is that of an engineering manager. These professionals will typically oversee a team and be responsible for high-level decisions, such as how to develop new products.
Engineering managers usually have a degree in engineering, but some may work their way up from within a company to reach that level.
This job averages $148,038 annually but can go well beyond six figures with experience and tenure.
For example, a mechanical engineer manager at General Electric makes $235,000 per year in salary and an additional $55,900 in bonuses and incentives.
2) Information Technology Director
One of the best paying jobs in capital goods is director of information technology.
Information technology directors coordinate information systems and communications technologies throughout an organization, handling everything from phone systems to Internet connections.
For example, a CIO earns an average salary of $176,300, with senior-level professionals pulling down a median salary of $158,900 annually.
Most I.T. directors have master’s degrees, and many hold certification as information systems security professionals (CISSPs).
Common sense, analytical skills and knowledge of networking are essential for success.
3) Manufacturing Manager
In recent years, manufacturing jobs have gained popularity as more companies expand.
A common misconception is that manufacturing jobs are only for blue-collar workers. Still, many white-collar managers in industries like healthcare and technology also find their way into manufacturing roles.
One such industry within capital goods is healthcare—which includes manufacturers of health equipment and home medical products like oxygen canisters and hospital beds.
Because of its growth over recent years, there’s a lot of demand for professionals in all areas related to hospital management — including business development, marketing, human resources and even quality control—and with an average salary of around $115,485 a year, it’s one of the highest-paying positions in capital goods.
4) Product Manager
The capital goods industry employs thousands of product managers across many different industries.
Many product managers in capital goods work for construction equipment companies and manufacturing firms that produce military equipment, cars, tractors, and other forms of transportation.
Most jobs are concentrated in New York City and San Francisco; salaries average between $113,446 and $122,000 a year.
5) Research and Development Manager
Research and Development managers are well-respected in the Capital Goods industry.
They research and develop different products for their company and often specialize in a specific development field.
Research and Development Managers need to have experience with market trends, come up with new ideas, listen to feedback from coworkers, and be able to handle competitive situations.
To succeed in this job, you must have a broad understanding of various fields such as technology and engineering and general knowledge of sales and marketing.
Research and Development Managers make an average salary between $100,000-and $200,000 per year, depending on their level of education.
6) General Manager
If you’re not going to work for one of these companies, you can still manage people who do.
The average salary is $109,994 per year. If you have a bachelor’s degree, your salary may be as high as $145,000 annually.
Top employers include Clarcor and Goodrich Corp., both manufacturers of components used on airplanes and helicopters.
Expect to see job openings in California and Georgia, where these companies are headquartered.
7) Software Developers
It doesn’t get much higher on our list than software developers. According to Glassdoor, they take home $108,249 annually.
And that’s just base salary; bonuses and equity can drive that number up, especially if you’re working for a larger company.
Why are software developer salaries so high? It could be due to supply and demand: Some 1.4 million people with tech-related jobs as of December 2014—but only about 500,000 open tech positions.
If there aren’t enough skilled workers to fill all those jobs, employers have to compete for them by offering competitive salaries.
8) Marketing Director – Best Paying Jobs in Capital Goods
This title is frequently assigned to an experienced leader that oversees an organization’s branding and promotion strategies.
This job often requires a good business education and strong marketing experience, including knowledge of strategic planning and how to build customer loyalty.
The average salary for a marketing director ranges from $95,000 – $150,000 per year, with top earners taking home upwards of $200,000 annually. In 2016, chief marketing officers earned about 2% more than marketing directors.
These jobs are the best paying jobs in the capital goods industry, with an average salary ranging from $114,560 and increasing to $128,300 on the high side up to $127,460 on the low end of the pay scale based on education and experience level.
9) Category Manager
Capital goods manufacturers employ category managers to deal with distributors and retail outlets.
These are some of the best paying jobs in capital goods. According to Simply Hired, a five-year average salary for a Category Manager was $117,900 as of December 2015.
An alternative career field to consider is Sales Executive – Specialty Retail; its five-year average salary was $78,200 as of December 2015.
Both positions require extensive experience and proven success within their fields.
Applicants for Category Manager jobs will likely be required to have at least one or two years of experience managing others and a Bachelor’s degree or equivalent work experience.
10) Business Development Manager
Having management experience is important when it comes to business development managers.
They take on various roles, including budget management, product development and general communications strategy.
What Do Capital Goods Jobs Pay Business Development Manager? According to Payscale, starting salaries range from $56,000 to $93,000, depending on years of experience and location.
Mid-career pay can vary between $102,000 and $135,000 each year.
11) Robotics Engineer
An engineering degree and a certification from a robotics engineering school are helpful prerequisites to becoming a robotics engineer.
The average annual wage for an engineer is $93,364. Most jobs for engineers require at least a bachelor’s degree.
As an alternative to earning a four-year degree, some schools offer short-term certificate programs for trained professionals interested in specific technical fields.
12) Project Manager – Best Paying Jobs in Capital Goods
The capital goods industry is constantly churning out innovative products and technologies that shape how businesses operate.
And as any product moves from research to development to manufacturing, a Project Manager can help oversee every step of its creation while working with tight deadlines.
How many jobs are available in capital goods for project managers? According to 2017 Bureau of Labor Statistics data, approximately 37,000 Project Managers worked across all industries.
What companies are in the capital goods field for project managers? While most work for manufacturing companies (around 77 percent), construction and architecture firms are also projected to hire approximately 500 new Project Managers by 2026.
In 2017, the median pay for these professionals was $87,940 per year or $43.54 per hour; on average, they earned $37.28 hourly or $79,100 annually.
13) Industrial Engineer
Industrial engineers focus on how to improve an organization’s efficiency and production.
Industrial engineers are a broad category ranging from planning facilities to managing inventory and supply chains.
They work in a wide range of areas, including manufacturing, health care, government, finance and technology.
It is a very large field with many specialties that continue to expand as more industries embrace technology.
Industrial engineer salaries can be high for certain types of jobs in capital goods, with the average wage reaching over $87,423. A few types of industrial engineering jobs include Supply Chain Management Engineer.
This job is responsible for managing a company’s supply chain by tracking and predicting purchasing needs to increase production levels with the least cost associated with it.
14) Quality Control Manager
No. 14 on our list of best paying jobs in capital goods is quality control manager, ranked as one of America’s Best Jobs by CareerCast.
According to the U.S. Bureau of Labor Statistics (BLS), quality control managers oversee quality assurance and compliance personnel at a manufacturing or service establishment to ensure that goods are inspected, sampled, and tested.
A bachelor’s degree in business administration or industrial engineering is usually required for this position and supervisory experience.
The annual mean salary for a quality control manager: is $78,010 (U.S.).
15) Sales Engineer
In a report released by U.S. Bank, they named sales engineers their number one pick for best paying jobs in capital goods, with an average salary of $87,084 per year and median base pay of $89,973.
Sales engineers are responsible for determining if a customer’s application will require capital goods products that meet the customer’s unique specifications.
The job description includes generating leads and closing sales using knowledge about current and future product applications ranging from pumps to machine tools to turbines.
Selling steel girders might be different from selling precision machining equipment; both tasks would use critical thinking skills, from inventory management to evaluating contracts and proposals.
16) Mechanical Engineer
The mechanical engineer position comes with an average salary of $84,982, making it one of the best paying jobs in capital goods.
Mechanical engineers need a bachelor’s degree but usually have a master’s.
Mechanical engineers design products such as cars and airplanes, but they also play important roles by testing new products to make sure they are safe for use and developing innovations that can be patented and sold on their own.
Mechanical engineers may specialize in one area of engineering and can often gain higher-level titles like principal engineer if they have several years of experience.
The more complex projects mechanical engineers tackle, such as airplane manufacturing or nuclear plant construction, come with higher pay scales.
17) Electrical Engineer – Best Paying Jobs in Capital Goods
Electrical engineers make an average annual salary of $82,161. That’s roughly double what software developers pull-down—and good news for those looking to start a new job in capital goods.
Electrical engineers use mathematical formulas and computer software to analyze existing technology; they design improved products with increased efficiency and power.
If you like tinkering with intricate electronic equipment that is incredibly complex, try electrical engineering as your best paying job in capital goods.
18) Sales Representative
A sales representative has many responsibilities: interacting with clients, managing accounts, scheduling and overseeing meetings, building relationships with team members, and working toward company goals.
They also manage internal and external communications with customers as well as vendors.
In these positions, a sales representative also is responsible for expanding current business through developing new contacts and representing their employer at industry events.
They must remain informed about changes in technology within their sector and regulatory changes that may impact their industry or company.
Finally, they often are expected to represent their company at conferences or trade shows.
What do capital goods jobs pay sales representatives? According to Payscale, sales representatives earn an average salary of $79,995 per year.
19) Business Analyst
A business analyst helps companies effectively and efficiently make use of technology.
A high-tech office filled with servers and software is only useful if people know how to operate it, maintain it, and run it properly.
Without efficient planning from knowledgeable business analysts, technological systems would be as useless as an expensive car without a driver.
How many jobs are available in capital goods for a business analyst? Indeed.com, about 150,000 open positions for business analysts (not including management) pay more than $65k/year.
20) Manufacturing Engineer
Some of the best-paying jobs in capital goods are engineering jobs.
What do capital goods jobs pay manufacturing engineers? According to the U.S. Bureau of Labor Statistics, a top ten percent earning manufacturing engineer would earn a salary of $76,091 per year (based on 2012 data).
This high-paying job usually involves overseeing manufacturing and quality control and designing machinery used to make things like machinery, computers, medical equipment and more.
21) Management Analyst – Best Paying Jobs in Capital Goods
There are many job titles in capital goods, but a management analyst is one of the most important.
The purpose of a management analyst is to ensure that as much data as possible is analyzed to determine whether current practices and procedures need to be changed.
One key aspect of a management analyst’s role is prioritizing projects and ensuring that their time is being used most effectively to solve clients’ problems.
The average salary for a management analyst in capital goods industries was $73,000 per year as of 2014.
If you want your career in capital goods to pay well, there’s no better place than a management analyst position.
In addition to great salaries, you can also count on excellent benefits and plenty of opportunities for advancement within your industry.
22) Contract Administrator
Since contract administrators have a broad knowledge of capital goods in general, they are responsible for overseeing various contracts and projects.
When companies hire contract administrators, they know that these professionals have a knack for identifying problems and solutions.
The average salary of a contract administrator is $69,142 a year, with many positions paying much more.
Companies that deal in capital goods always seem to be growing as they keep on developing new products or adding new features to current ones. What makes these jobs so attractive is that there is no limit to how much you can earn.
23) Training and Development Manager
In a recent survey conducted by Financial Executives International, 66 percent of respondents said training is either very important or extremely important for job success.
A similar report from People Strategy Consulting found that training positively impacts job satisfaction and career development opportunities.
Training and development managers are responsible for identifying, planning, implementing and evaluating employee training programs.
This is an excellent position for someone who wants to shape human capital within an organization while helping it develop into a more efficient and profitable entity.
Opportunities may exist at companies that deal with office equipment, medical supplies or food processing plants (to name just a few industries).
An average salary within these fields is $52,000 to $99,000 per year.
24) Industrial Designer – Best Paying Jobs in Capital Goods
Industrial designers study how a product is used and identify ways to improve that process.
They create models, sketches, and drawings of how something will look and work, then give them to engineers who figure out how to make it into a real product.
The average salary for industrial designers was $76,184, according to BLS data for 2013 (the most recent year available).
This was about 10% higher than what mechanical engineers made—an average of $69,140. Industrial designers’ pay varied with their location.
25) Computer-Aided Design Technicians
Those looking for a job in Capital Goods with a high salary should consider applying for Computer-Aided Design Technicians.
These professionals make an average of $43,361 per year and often receive overtime pay.
Although initial education requirements vary depending on employer preference, most Computer-Aided Design Technicians have earned at least a Bachelor’s degree in Engineering or Computer Science.
Job growth is expected to be slow but steady at around six percent through 2022 as new technology emerges within industry sectors such as automotive and aerospace.
However, workers in these fields can expect continued advancements in their careers as companies look for experienced experts familiar with both new and old methods of doing business.
26) Warehouse Worker
A worker who operates machinery to move, pick up and put down goods, materials, or equipment.
Although some workers use hand trucks and other conveyors to move goods between workstations and storage areas, most warehouse workers operate powered equipment such as forklifts.
These are some of the best paying jobs in capital goods that can be done by someone with no experience at all.
High school education is usually required, but technical training can be obtained.
Being a reliable employee is essential because an employer is typically concerned with dependability more than anything else.
Even if you don’t have prior experience, consider applying to one of these positions; if nothing else, you will learn valuable skills that will help advance your career further down the road.
27) Assemblers – Best Paying Jobs in Capital Goods
These workers assemble mechanical and electrical equipment, such as machine tools, instruments, generators, meters, circuit breakers, boats and automobiles.
The average wage for assemblers is $35 per hour or $73,780 per year.
The top-paying states are Alaska ($41.40), Connecticut ($40.17), Washington ($38.84) and Rhode Island ($38.60).
In Texas, they earn an average of $33.13/hour or $68,370 annually, which is good enough for No. 27 on our list of best paying jobs in capital goods with an average salary.
Military positions are among some of these higher-paying jobs because assemblers need extensive knowledge about weapons systems and how to fix them should they malfunction in any way possible…
What are Capital Goods?
Capital goods are tangible products used to produce other real products or services. They’re often defined as durable, non-consumable items expected to last for several years and have a total value of $500 or more.
Capital goods can be broken down into four major categories: construction, information processing, manufacturing and utility materials.
Capital goods, in general, make it possible for society to achieve its ultimate goal – making everyone prosperous.
What are the different industries of capital goods?
There are many different industries of capital goods that you can specialize in.
The top capital goods industries are aerospace and defense, automotive, construction, computers and electronics, energy, industrial manufacturing and mining.
These industries vary slightly in the degree of difficulty entering the field and pay for employees.
Still, overall the greatest obstacle is finding an employer who will take a chance on a college grad with no prior experience rather than someone with 20 years under their belt already. (Not impossible by any means; it just takes some extra work.)
Being educated on what careers are available to you in capital goods will be a huge benefit when trying to narrow down which direction you want to take your job.
According to data from BLS, aerospace industry jobs are among some of the highest paying in capital goods.
The average salary in aerospace is $111,560. In addition to being well-compensated, workers in aerospace also enjoy many opportunities for upward mobility.
Approximately 37% of job postings for aviation-related positions in 2016 were managerial roles, and 15% were executive or C-level positions.
Construction is one of those industries that never sleeps. There’s always work to be done, and there’s also a surprising number of jobs in construction that offer above-average pay.
One such field is capital goods, including products like computers and other large machinery used for construction purposes. Here are some of the top-paying jobs in capital goods in terms of average salary
The chemical industry is one of many capital goods industries in which a successful career can be had.
According to U.S. Bureau of Labor Statistics data, over 99,000 people are employed in chemical-related jobs in capital goods as of January 2017.
The electronic industry is one of the capital goods industries. There are many companies in this field, and many multinational companies such as Microsoft and IBM belong to it.
It’s a very important industry, and millions of people work in it worldwide. And you can find these jobs in U.S. and U.K…etc. So they have a high salary compared to other fields such as finance and real estate. Etc.
The textile industry accounts for capital goods spending of $500 million. Textile mills, garment manufacturers and related enterprises are leading purchasers of capital goods.
Textile companies’ most common capital goods include computer equipment and software, electrical components, and electronic equipment.
Other capital goods purchases include manufacturing machinery, scientific research and development equipment, construction material and transportation equipment.
Manufacturers involved in fabricating wood products account for approximately $400 million in capital goods spending in Capital Goods.
The machinery industry is one of many capital goods industries, which means it provides equipment and products that businesses and consumers need to do just about anything.
Some machinery, such as refrigerators, can be found in almost every home in America.
Big companies or industry leaders only need other machinery. Whichever type of company you’re looking to work for in the capital goods field, you’ll find all kinds of potential employers here.
The steel industry is one of America’s most visible capital goods sectors.
The industry, which makes up a considerable chunk of total capital goods production in North America and Europe, is so large that its name has become synonymous with capital goods.
Steel includes rolled metal products made from iron or steel, including sheets and coils, bars and rods, wire products, tubes and pipes.
The industry’s output totals nearly $175 billion annually in North America alone.
The automotive industry is currently one of, if not the, largest capital goods industry in terms of production volume.
It should be noted that capital goods are goods used by other companies in their manufacturing process.
For example, Ford buys millions of dollars worth of tools from outside companies to manufacture cars; those tools are considered capital goods for Ford.
Any item purchased for business use by another company is considered a capital good. Examples include forklifts for warehouse use and cleaning supplies for office buildings.
Advantages Of Working In the Capital Goods Industry
You can expect an above-average salary if you work in the capital goods sector.
Capital goods are tangible assets used to create more complex products, such as automobiles and other transportation equipment, electric power generation and transmission equipment, industrial machinery, and commercial aircraft.
Workers need to be highly trained experts with unique skills given their specialized nature.
That’s what makes them extremely valuable in today’s labor market.
Capital goods employees who have mastered their trade and improved their skills through additional training can enjoy significantly higher salaries than non-specialized professionals with similar experience levels.
For example, software developers make an average of $100 per hour.
Working in a capital goods industry is known for its significant benefits, including flexibility.
As an employee, you’ll have access to your schedule and work-from-home options, which are hard to come by when you’re employed elsewhere.
According to FlexJobs—which provides job listings for flexible jobs with flexible hours—capital goods workers enjoy access to remote positions that allow them to balance their home and professional lives.
Working with Capital Goods has many advantages. However, many of these include a high level of responsibility and long hours that are necessary to stay ahead of deadlines and meet demands.
One advantage is a good salary and other perks working with Capital Goods.
In most instances, workers may be given a performance bonus or pay increase and additional vacation time depending on company policy.
For Capital Goods workers who work for larger companies, starting salaries can often reach six figures at higher positions within their companies.
One of these huge benefits is quick promotion. In recent years, the Capital Goods Sector has increased demand in every field by up to 10% each year due to its quick promotion compared to other sectors.
So, always look out for Capital Goods Sector as a growing sector where you can make your career bright and financially strong.
The capital goods industry is full of high-paying positions, with some jobs offering starting salaries above $100,000.
As more companies start to rely on technology, however, many of these roles require workers with specialized training—meaning most applicants will have to complete free training before receiving a job offer.
Some companies provide free training to help recruit top talent, while others pay workers to attend sessions as part of their compensation packages.
Disadvantages Of Working In Capital Goods
Although working for a capital goods company can be financially lucrative, there are several disadvantages to working for a capital goods manufacturer.
These disadvantages include long hours, physically challenging work, and high-stress levels.
Many jobs in capital goods manufacturing involve assembling complex parts that are done quickly and efficiently in an assembly line setting.
Workers often feel pressured to move quickly at their job, and as a result, they may experience emotional distress when they make mistakes while working.
The physical labor involved with some capital goods manufacturing jobs also can be very strenuous and is often done while standing or walking around.
Capital goods and equipment are not for everyone. In some cases, these positions can be very technical and require a lot of education.
Sometimes workers need at least an associate’s degree in engineering to work as engineers or technologists.
Capital goods manufacturers often require employees to have several years of experience and specialized training or certification.
These requirements take time, which many people don’t have while working full-time and raising a family.
It is well known that working in capital goods can be hazardous to your health.
The Bureau of Labor Statistics estimates that 500,000 workers are exposed to toxic substances every year.
Also, workers who spend long hours sitting at a desk risk developing health problems like carpal tunnel syndrome and back pain.
These conditions can significantly impact a worker’s quality of life and ability to function daily.
Capital goods production is a dangerous industry, especially for those who work with heavy machinery or other dangerous equipment.
In fact, according to 2009 data from the Bureau of Labor Statistics (BLS), nearly 20% of fatal workplace accidents that year involved one of these workers.
Even when employees don’t die from industrial accidents on-the-job, they can end up seriously injured.
These injuries often lead to workers’ compensation payouts and lost wages.
What Companies are in The Capital Goods Field?
Capital goods refer to equipment and machinery used in production, construction and service industries.
Capital goods often account for a large percentage of total costs associated with creating an end product or delivering a service.
Companies are in the Capital Goods field include government agencies and businesses, such as
- Moody’s Corp.,
- Merck & Co.,
- Honda Motor Co.,
- FedEx Corp.,
- DuPont & Co.,
- IBM and
- General Electric (G.E.)
Each company provides products and services in different areas such as business management and capital investments into companies worldwide, motor vehicle designs (Honda), prescription drugs, shipping and logistics support (FedEx), food science (DuPont) and credit rating assessments, among other industries.
IBM is one example of companies in the Capital Goods field that provides computer hardware, software and I.T. services; it is considered one of the largest technology companies in the United States by revenue.
General Electric (G.E.) is another company in the Capital Goods field that generates revenue by providing manufacturing services and aircraft engines, power generation equipment, and financial services.
Best Paying Jobs in Capital Goods – FAQs
According to a report by BLS.gov, as of 2010, more than 584,000 jobs in capital goods existed across nearly 6,000 companies.
Additionally, large organizations employed about 23 percent of workers in capital goods that year—meaning just over 142,000 people worked for these enterprises.
Much of these organizations’ employment was concentrated in California and Florida; their combined workforce comprised almost 31 percent of all employees in capital goods.
Salaries for capital goods workers vary widely depending on position, industry, and company. However, some positions pay more than others.
For example, jobs that involve direct contact with customers or clients tend to pay well (think customer service representatives).
Senior positions (general managers and higher-ups) also often pay well, as do jobs in specialized areas like finance.
The bottom line? If you’re looking for a career with high salaries, you should consider a career in capital goods manufacturing.