What Do Capital Goods Jobs Pay in 2023?

If you’re looking for a high-paying job, you may want to consider a career in the capital goods industry. Jobs in this field come with salaries well above the national average. This blog post will look closely at what jobs are available in the capital goods industry and what kind of pay you can expect to earn. We’ll also discuss some of the essential skills you need for these jobs. So if you’re ready to start making more money, keep reading!

What are Capital Goods?

The capital goods industry comprises businesses that produce durable goods, such as machinery, equipment, and vehicles. This sector is sometimes called the “manufacturing” or “industrial” sector. The products produced by this sector are used to create other products and services. For example, a company manufacturing construction equipment would be considered part of the capital goods industry. To make it clear, here’s a list of them:

  • Machinery (industrial machinery, agricultural machinery, construction machinery)
  • Equipment (material handling equipment, process equipment)
  • Vehicles (cars, trucks, buses)
  • Steel
  • Textile-making Non-ferrous metals (aluminum, copper)

What are the Companies Contributing to the Capital Goods Industry?

The top companies in the capital goods industry are typically large multinational corporations. Some of the largest companies in this sector include GE, Siemens, and Hitachi. These companies have a significant presence in developed economies such as the United States, Germany, and Japan. However, they also have a significant presence in emerging markets such as China and India.

What Jobs are Available in the Capital Goods Industry?

There are a variety of different jobs available in the capital goods industry. Some of the most common positions include engineers, managers, and technicians. 

These types of jobs usually require a four-year degree from an accredited university. However, many positions only require a two-year or high school diploma.

What Do Capital Goods Jobs Pay?

The capital goods industry is full of well-paying jobs. The average salary for a job in this industry is $85,400 annually. That’s more than $30,000 higher than the national average! And it’s not just the top earners doing well in this field. Entry-level positions also offer salaries that are above average.

Job Opportunities in the Capital Goods Industry

The capital goods industry is expected to grow in the coming years. This means that there will be plenty of job opportunities for those interested in this field. Now is a great time to start your search if you have the skills and qualifications needed for these jobs.

Capital Goods Payment Overview(Each Skill)

 

Industrial Enginner
Photo of an electrician working at distribution board.

Machinists

The median annual wage for machinists was $40,960 in May 2019. The lowest pay is around $26,000, and the highest is over $61,000.

Industrial Engineers

The median annual wage for industrial engineers was $87,040 in May 2019. The lowest pay is around $52,000, and the highest is over $131,000.

Maintenance and Repair Workers

The median annual wage for maintenance and repair workers was $39,070 in May 2019. The lowest pay is around $22,000, and the highest is over $57,000.

Engineering managers

The median annual wage for engineering managers was $144,830 in May 2019. The lowest pay is around $83,000, and the highest is over $208,000.

Construction managers

The median annual wage for construction managers was $93,370 in May 2019. The lowest pay is around $48,000, and the highest is over $140,000.

General and operations managers

The median annual wage for general and operations managers was $100,930 in May 2019. The lowest pay is around $50,000, and the highest is over $156,000.

Sales engineers

The median annual wage for sales engineers was $105,560 in May 2019. The lowest pay is around $54,000, and the highest is over $161,000.

Marketing managers

The median annual wage for marketing managers was $132,620 in May 2019. The lowest pay is around $72,000, and the highest is over $198,000.

What to expect when you start a career in capital goods?

When you start a career in the capital goods industry, you can expect to earn a good salary. The average salary for a job in this industry is $85,400 annually. That’s more than $30,000 higher than the national average! And it’s not just the top earners doing well in this field. Entry-level positions also offer salaries that are above average. In addition to a good salary, you can also expect plenty of job opportunities in this industry.

How to increase your earning potential in capital goods?

There are a few ways that you can increase your earning potential in the capital goods industry. One way is to get a four-year degree from an accredited university. This will give you the skills and qualifications needed for many higher-paying positions in this field. Another way to increase your earnings is to move into management. Many managers in the capital goods industry earn six-figure salaries.

Which industries offer the best pay for capital goods professionals?

Manufacturing Engineering has the highest median salary at $85,880. Next are Aerospace Engineers at $80,000 and Petroleum Engineers at $77,520.

According to data from the Bureau of Labor Statistics, these are the top three industries that offer the best pay for capital goods professionals. But what about other industries?

The average salary for a Capital Goods professional across all industries is $74,590. The industry with the next highest median salary is Mining, Quarrying, and Oil and Gas Extraction at $71,000. Utilities follow this at $70,560 and transportation and Warehousing at $68,870.

The Bottom Line

The capital goods industry is worth considering if you’re looking for a high-paying job. There are plenty of job opportunities available, and salaries in this field are well above the national average. So if you’re ready to start making more money, this is an industry that you should look into.