Capital goods are the equipment and machinery that are involved in production. The production process is an essential part of any business. Without the proper capital goods, a company would be unable to produce the products and services that consumers rely on. In this article, we will discuss the best paying jobs in capital goods in 2022.
These are jobs in high demand right now and will continue to be in high demand for years to come. So if you’re looking for a lucrative and stable career, then consider one of these positions!
What is the Capital Goods Industry?
The capital goods industry comprises businesses that produce tangible or intangible assets used to create other goods and services.
This includes everything from raw materials and machinery to software and buildings.
Capital goods are typically defined as unique, capital-intensive items that include numerous parts.
In short, the capital goods industry is responsible for creating the products and services that keep our economy running.
Executives
Executives are the highest-ranking members of an organization. They are responsible for making decisions that impact the entire company. They are some of the highest-paid employees in any organization, so it’s no surprise they will have the best paying jobs in the capital goods industry.
The average annual income for a Chief Executive Officer (CEO) is $156,021 per year. The top 10% of CEOs make over $307,000 per year, and the top 1% make millions per year.
Executives typically have a bachelor’s degree, but many also have a master’s degree.
The day-to-day tasks of an Executive in capital goods involve setting strategy, making decisions, and managing resources. Executives spend most of their time executing on high leverage activities.
Engineering Manager
An Engineering Manager is responsible for leading a team of engineers. They plan engineering projects and oversee the implementation of those plans.
The average salary for an Engineering Manager is $118,900 per year. The top 10% of Engineering Managers make over $152,000 per year. Engineering Managers are among the best paying jobs in capital goods industry.
Engineering Managers typically have a bachelor’s degree in engineering, but some also have a master’s degree.
The day-to-day tasks of an Engineering Manager involve developing plans, setting quotas, research and development activities, and monitoring performance. They are responsible for overseeing the company’s engineering activities for their department.
Finance Manager
A Finance Manager is responsible for overseeing the financial operations of an organization. They develop financial plans and oversee the implementation of those plans.
The average salary for a Finance Manager is $95,529 per year. The top 10% of Finance Managers make over $128,000 per year. Finance Managers are one of the best paying jobs in capital goods.
Finance Managers typically have a bachelor’s degree, but many also have a master’s degree.
The day-to-day tasks of a Finance Manager involve developing financial plans, overseeing investment activities, and managing budgets.
Computer and Information Systems Manager
A Computer and Information Systems Manager is responsible for overseeing the IT operations of an organization. They develop IT plans and oversee the implementation of those plans.
The average annual salary for a Computer and Information Systems Manager is $85,621 per year. The top 10% of Computer and Information Systems Managers make over $127,000 per year.
Being a Computer and Information Systems Manager in the capital goods sector can mean having a high paying job. This is one of the best paying jobs in capital goods.
Computer and Information Systems Managers typically have a bachelor’s degree, but many also have a master’s degree.
The day-to-day tasks of a Computer and Information Systems Manager involve developing IT plans, overseeing IT projects, and managing budgets.
Business Development Manager
The responsibility Business Development Managers in capital goods is to coordinate the company’s business development efforts. They are responsible for identifying and developing new business opportunities. They work with existing clients to identify new products or services they may be interested in.
On average, Business Development Managers earn $75,570 per year. The top 10% of Business Development Managers make over $125,000 per year.
The day-to-day tasks of a Business Development Manager are to coordinate business development efforts which involve researching new markets, identifying potential customers, and developing sales plans.
Other business development operations include following sales plans, following up with prospects, and ensuring new customers are onboarded correctly.
Becoming a Business Development Manager is a good career path because it’s one of the best paying jobs in capital goods, and you can transfer the skills to other industries.
Chemical Engineer
A Chemical Engineer in capital goods is responsible for designing and overseeing the production of chemicals. They develop chemical processes and oversee the implementation of those processes.
The average salary for a Chemical Engineer is $76,661 per year. The top 10% of Chemical Engineers make over $119,000 per year. It’s one of the best paying jobs in capital goods.
Chemical Engineers typically have a degree, with some having a master’s degree.
The day-to-day tasks of a Chemical Engineer involve designing and overseeing the production of chemicals.
This is good career path because the job skills can be transferred to another role in the chemicals industry.
General and Operations Manager
A General and Operations Manager in capital goods is responsible for overseeing the day-to-day operations of an organization. They develop operational plans and oversee the implementation of those plans.
The average salary for a General and Operations Manager is $67,556 per year. The top 10% of General and Operations Managers make over $119,000 per year. The top earners have some of the best paying jobs in capital goods.
General and Operations Managers typically have a bachelor’s degree, but many also have a master’s degree.
The day-to-day tasks of a General and Operations Manager involve developing operational plans, overseeing projects, and managing budgets. They are also heavily involved in delegating tasks to employees and ensuring they are completed.
Sales Manager
A Sales Manager in capital goods is responsible for leading a team of salespeople. They develop sales strategies and oversee the implementation of those strategies.
The average annual income for a Sales Manager is $63,094 per year. The top 10% of Sales Managers make over $118,000 per year. The salary for this job usually depends on performance, and high performers will have some of the best paying jobs in capital goods.
Sales Managers typically do not require a degree, but many have a bachelor’s degree and some also have a master’s degree or higher.
The day-to-day tasks of a Sales Manager involve developing sales plans, setting quotas, and monitoring performance. If you are authentically oriented toward sales, this can be a fantastic high paying job.
Electrical Engineer
An Electrical Engineer in capital goods is responsible for designing and overseeing the production of electrical equipment. They develop electrical plans and oversee the implementation of those plans.
The average salary for an Electrical Engineer is $78,206 per year. The top 10% of Electrical Engineers make over $117,000 per year. For those with an Engineering mindset, this is one of the best capital goods jobs.
Electrical Engineers typically have a bachelor’s degree, but many also have a master’s degree or higher.
The day-to-day tasks of an Electrical Engineer involve designing and overseeing the production of electrical equipment.
This is a good career path because the skills can be easily transferred to the electronics industry.
Project Manager
A Project Manager in capital goods is responsible for planning, executing, and monitoring projects. They work with a team of engineers to ensure that projects are completed on time and within budget.
The average salary for a Project Manager is $75,926 per year. The top 10% of Project Managers make over $115,000 per year. Project management is one of the best jobs in the capital goods market.
Project Managers typically have a bachelor’s degree in engineering, but many also have a master’s degree or higher.
The day-to-day tasks of a Project Manager involve creating project plans, assigning tasks to team members, and tracking progress.
Mechanical Engineer
Mechanical Engineers in capital goods are responsible for designing and overseeing the production of mechanical devices. They develop mechanical plans and oversee the implementation of those plans.
The average salary for a Mechanical Engineer is $73,121 per year. The top 10% of Mechanical Engineers make over $101,000 per year.
Mechanical Engineers typically have a bachelor’s degree, but many also have a master’s degree or higher.
The day-to-day tasks of a Mechanical Engineer involve designing and overseeing the production of mechanical devices.
Purchasing Manager
A Purchasing Manager in capital goods is responsible for overseeing the purchase of goods and services. They develop purchasing plans and oversee the implementation of those plans.
The average annual income for a Purchasing Manager is $70,349 per year. The top 10% of Purchasing Managers make over $101,000 per year.
Purchasing Managers typically have a bachelor’s degree, but many also have a master’s degree or higher.
The day-to-day tasks of a Purchasing Manager involve developing purchasing plans, overseeing projects, and managing budgets.
Marketing Manager
Marketing Managers in capital goods are responsible for creating and executing marketing campaigns. They work with other departments in an organization to ensure that the campaigns are aligned with the company’s overall strategy.
The average annual salary for a Marketing Manager is $67,897 per year. The top 10% of Marketing Managers make over $101,000 per year.
Marketing Managers typically have a bachelor’s degree, but many also have a master’s degree or higher.
The day-to-day tasks of this job involve developing marketing plans, conducting market research, and managing budgets.
Industrial Engineer
An Industrial Engineer in capital goods is responsible for designing and improving systems. They work with other engineers to ensure that the systems are efficient and meet the needs of the organization.
Industrial Engineers may also be known as manufacturing engineers or industrial designers.
The average annual salary for an Industrial Engineer is $70,483 per year. The top 10% of Industrial Engineers make over $93,000 per year.
Industrial Engineers or manufacturing engineers typically have a bachelor’s degree, but many also have a master’s degree or higher.
The day-to-day tasks of an Industrial Engineer involve designing systems, conducting studies, and managing projects. They often design the product’s manufacturing process and work with industrial designers.
FAQ’s
What Are The Best Paying Jobs in Capital Goods?
The best paying jobs in capital goods are Executives, Engineering Managers, and Finance Managers.
What Companies Are In The Capital Goods Field?
There are many companies in the Capital Goods Field, but some examples are Tesla Motors, Toyota Motor Corporation, Honeywell International, Raytheon Technologies, Lockheed Martin, PACCAR, and Genuine Parts Com
How Many Jobs Are Available in Capital Goods Industry?
The top 10 companies in Capital Goods employed 1,392,357 full-time workers at the end of 2021.
The top 20 companies in Capital Goods employed 2,549,087 full-time workers at the end of 2021.
These figures were calculated by analyzing Yahoo Finance data from the top companies in the capital goods industry (by market cap).
What Do Capital Goods Jobs Pay?
Capital goods jobs pay an average of $69,392 per year, but many jobs in capital goods industry can pay over $100,000 per year.
Is Capital Goods a Good Career Path?
Yes! A capital goods career is great because there are numerous well paying positions, great job security and you can easily transfer skills into other industries.
Conclusion
There are many great career options in the capital goods industry. If you have the right skills and experience, you can easily find a well-paying job in this field.
With so many different positions available, there is sure to be a perfect fit for you. So don’t wait any longer, start your search today!
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