Capital Goods refer to the products used to make other products, and It’s a wide-ranging field of industries. But how many jobs are there? And what can you do with a career in Capital Goods? Continue reading the article below.
What are Capital Goods?
Capital goods are goods that are used in the production of other goods and services. They are also known as intermediate goods or durable goods. Capital goods include equipment, machinery, vehicles, buildings, and other structures used in manufacturing and construction.
How Many Jobs Are Available In Capital Goods
The Capital Goods sector is the largest manufacturing industry in the United States. It includes companies that produce machinery, transportation equipment, mining and construction equipment, and other industrial equipment.
The capital goods sector is one of the fastest-growing sectors in the economy. The Bureau of Labor Statistics (BLS) reports about 7.5 million jobs in capital goods, with an average annual salary of $75,000.
Is Capital Goods a Good Career Path?
Capital Goods is a great career path if you enjoy working with people, know how to delegate, and have an interest in the business. If you are looking for a job that will allow you to grow your career and give you time to enjoy your life, then Capital Goods is the right choice.
- Highly paid
- Highly respected
- Self-employment is possible
- Unpredictable income stream
- Long hours, often including weekends and holidays
Best Paying Jobs in Capital Goods
If you are considering getting a job as a Capital Goods employee, here is a list of some of the best paying jobs in that industry.
Average Salary: $95,000
Electrical engineers use their electronics and electrical systems knowledge to solve problems in various industries. They work in manufacturing, telecommunications, medical devices, energy production, aerospace, and defense.
Average Salary: $82,000
Drilling engineers are responsible for all aspects of a drilling project from start to finish. They coordinate the work between different companies, such as drilling, geology, and geophysics, and ensure that all parties work toward the same goal. Drilling engineers must also communicate effectively with all team members and keep them informed about the status of projects at all times.
Salary Range: $70,000 to $120,000
Engineering managers oversee the production of all aspects of a product or service, including research, design, and development. They work with engineers, scientists, and other specialists to ensure that their company meets quality standards and delivers products on time. Engineering managers often supervise teams of engineers and technicians and oversee budgets and project management.
Average Salary: $116,000
Petroleum engineers design and develop methods to extract oil and gas from the earth’s crust. They also analyze data to determine how efficiently wells run and how best to maintain production levels. Petroleum engineers can work for oil and gas companies or in the petroleum industry of countries that don’t produce their energy supplies.
Salary Range: $90,000 to $150,000
Ship engineers are responsible for maintaining and operating a ship’s propulsion system. They ensure the engines and other mechanical components function correctly while the ship is underway and supervise the engine room and crew members.
Average salary: $85,000
Mechanical engineers are responsible for designing and developing products used in the manufacturing industry. They often work on research and development teams to develop new products and test and improve existing ones. A mechanical engineer is also required to design or redesign product specifications, develop prototypes and manage the production process.
Average salary: $98,000
The marketing manager is responsible for selling and marketing a company’s products. They create a strategy and manage the budget for all advertising campaigns. The job requires a good understanding of the target market, including demographics, needs, and preferences. The marketing manager also develops strategies to increase sales and brand awareness through various websites and social media marketing channels.
Average salary: $86,000
Test engineers often work in the automotive industry, testing new vehicle designs and ensuring they meet safety standards. They also work in other manufacturing sectors, such as aerospace and defense, energy, medical devices, and pharmaceuticals. Test engineers may be required to perform tests on equipment or processes to ensure everything is working. They also analyze data to determine how well a product performs in different situations.
Average salary: $93,000
Actuaries estimate and manage financial risk for insurance companies and other businesses. The job requires a bachelor’s degree in mathematics and several years of experience in the field. Actuaries use statistical modeling and data analysis to predict future outcomes and identify potential problems. They also design policies that will help companies meet their goals and implement these policies once approved.
Industrial Production Manager
Salary Range: $93,000 to $130,000
Industrial production managers oversee the manufacturing process for a business’ products. They work with other members of management to ensure that the company’s production goals are met by overseeing production workers and equipment. Additionally, industrial production managers may be responsible for quality control and ensuring that products meet standards.
What Companies are in The Capital Goods Field
- Northrop Grumman
- United Rentals Inc
- Lockheed Martin
- Honeywell International
- General Electric
Within the capital goods industry, it is crucial to understand the market to be successful. Of course, this will require you to do your research to understand better the topics discussed above. This can help you develop the right plan and use your knowledge to effectively make educated decisions regarding products and services offered in this area. The more time You spend researching, the easier it is to remain competitive.