Few sectors offer as many job opportunities as capital goods when it comes to employment opportunities. According to the Bureau of Labor Statistics, this industry is projected to grow by 6 percent between 2016-2026.
This is more than twice the growth rate for all occupations. Consider a career in capital goods if you are looking for a career with lots of potential for advancement. We will be looking at the exciting job opportunities in capital goods.
This is a great question: How many jobs are available in capital goods? Before we get into the details, let’s first look at some frequently asked questions.
What are Capital Goods?
Capital goods are goods that are used to make other goods for consumption. Wikipedia states that capital goods are a collection of heterogeneous commodities with specific technical characteristics. They can be used to produce goods or services. Capital goods are tangible economic goods.
Capital Goods – Their Use, Owners, and Examples
Capital goods are useful because you can invest in the production and maintenance of goods. You can also use them to produce other products and services in a given timeframe.
This impacts How Many Jobs are Available in Capital Goods Industry. Capital goods can be described as Machinery, Tools, and Buildings. Equipment such as computers can be used to make other products.
What are the benefits of a job in capital goods?
A career in capital goods has many benefits. Capital goods are products used in the production and maintenance of other products. They are more durable and reliable than other types of products. Capital goods tend to be more valuable than other products, which gives them more earning potential.
How many jobs are available in capital goods?
Today there are approximately 1.3 million job openings in capital goods industries. Only 150,000 of these jobs involve working as a laborer. This means a tremendous need for people to fill the remaining 900,000.
There are many vacancies in capital goods, but it all depends on what job you are looking for. According to Indeed, engineers have more than 4,000 job opportunities, while salespeople only have about 1,000. It is important to research the job you want and find out what other opportunities there are.
Best Paying Jobs In Capital Goods
- Engineering Manager
- Computer-Aided Design Technicians
- Industrial Designer
- Research and Development Manager.
- Marketing Manager
- Business Development Manager
- Warehouse Worker.
- Manufacturing Manager.
- Director of Manufacturing.
- Manufacturing Engineer
- Senior Mechanical Engineer
- Sales Engineer
- Robotics Engineer.
What are some examples of capital goods?
Before knowing how many jobs are available in capital goods, let’s know the examples of capital goods. Capital goods are generally physical objects that corporations convert into consumer goods. Depending on many factors, such as quantity, end-users, customers, and required investments, a product’s classification can be either consumer or capital goods. Here are some examples of capital goods.
- Textiles include cotton, wool, and nylon.
- Chemicals include oils, minerals, and natural gases.
- Automotive components include parts for cars, trucks, bikes, and other vehicles.
- Electronics – semiconductors, industrial, telecoms, and consumer electronic parts.
Average Salary For Capital Goods Workers
Before knowing how many jobs are available in capital goods, let’s answer the question do capital goods jobs pay? The workers’ pay also impacts their earnings. Recently, the Bureau of Labor Statistics (BLS) released its latest report about capital goods workers’ employment. It found that their average annual income has increased to $74,580.
This figure is expected to increase to $84,460 by 2027. PayScale salaries for capital goods workers can range between $30,000 and $84,000 per annum. According to Indeed.com, in 2017, a Midwest engineer earning $54,000 per year had less than five years of experience. A New York City Sales Representative with experience could earn $95,000 annually.
How to Find a Job in Capital Goods
Before knowing how many jobs are available in capital goods, let’s know how to find a job in capital goods. Public offices such as The Department Of Energy and the National Institute Of Standards And Technology (NIST) are the best places to search for Capital Goods jobs. Private sector jobs are another place where you can find Capital Goods jobs. Because many private companies provide capital, this is why. Goods. Some job posting sites like Monster, Indeed, and Linkedin can help you find capital jobs.
Resources To Find The Best Paying Jobs In Capital Goods
- Search for capital goods jobs online – This is a great resource for finding the highest-paying jobs in capital goods. You can search for current positions by job title, location, and other criteria.
- Websites for firms – Once you have created a list of capital goods manufacturing companies, you can check the careers page on each company’s website periodically to see if there are any new jobs.
- Internships – If you’re interested in an internship at a capital goods manufacturer, please submit your application. Most organizations will hire interns if they do a good job during their internship.
- College Career Centers – Colleges often provide access to career centers that will assist students in their job search after graduation. If you are a recent graduate or are still enrolled at college, you should check out the career services offered by your school.
- Professional Organisation – Joining a professional organization will allow you to meet people from many professions and keep up with the most current information about the job market. Most professional organizations provide access to a job board.
Top Paying Jobs In Capital Goods
After knowing how many jobs are available in capital goods, Let’s look at the top paying jobs in capital goods:
1. Engineering Managers
Engineering managers of May 27, 2022, the average salary for an Engineering Manager in the United States was $139.105. This makes it one of the highest-paying jobs in capital goods.
2. Senior Mechanical Engineer
In some cases, the annual salary for a senior mechanical engineer could exceed $200,000. The top-paid jobs worldwide are in the fields of mechanical and electrical engineering.
3. Electrical Engineer
An average salary for an electrical engineer is $78,206. The annual salary cap can be as high as $200,000 in certain cases, making it one of the highest-paid jobs in capital goods. Electrical engineering jobs are consistently ranked as one of the most lucrative, and you might find such opportunities in the capital goods industry.
4. Manufacturing Engineer
The average salary for Manufacturing Engineers as reported by Payscale is $72,526/year.
5. Research And Development Manager
The normal range of compensation for a Research and Development Manager is between $127,242 and $167,844 in the United States. The average annual income for this position, however, is $146.091.
6. Quality Control Manager
The average annual wage for quality control managers in the United States is $72,175; this makes it one of the highest-paying jobs in capital goods.
7. Business Development Manager
According to Payscale.com, Business Development Managers are one of the highest-paid jobs in capital goods, with an average annual income of $75,000.
8. Industrial Designer
The average income for an industrial designer in America is $55,405 to $69,351, with an average salary of $61,445 annually. The salary ranges that a person can expect will depend on their education, qualifications, experience, and other talents.
9. Sales Engineer
Sales engineers make $74,690 per year, which is the norm. This makes them one of the highest-paid jobs in capital goods.
10. Software Developer
An average salary for a Software Engineer in the United States is $93,920 per annum. There’s also a $5,000 cash bonus.
11. Marketing Manager
This position requires a degree in marketing or another closely related discipline and years of industry experience. The average compensation for a marketing manager is $98,161 to $128,433, with an income of $111,898 as of May 27, 2022.
There are many job opportunities in capital goods, as you can see. Everyone has a job, whether you are looking for sales, engineering, or management. Don’t delay; get started today!