Capital goods are all about the tools used in manufacturing, agriculture, construction, transportation, and other valuable industries that power our world today.
The good news is they can lead to exciting, high-demand, well-paid careers. Many jobs available offer great job security. Everyone needs manufacturing to build the consumer goods and services we use daily.
Many high-level job opportunities are available in capital goods that pay way above the average salary, like in the electronics industry. However, you might need a bachelor’s degree, master’s degree, or even a Ph.D.
A career in capital goods could be right up your street. This article discusses the current top jobs offered by capital goods companies and their requirements and education expectations.
Let’s fire up your LinkedIn and get started.
What are capital goods?
Capital goods are the items used to produce products. They can include anything from a hammer to a piece of high-tech equipment to property.
For example, an industrial designer might use specialized machinery to build a car at a production plant. That’s a capital good.
Someone using a drill to put a picture frame up at home? That’s a consumer good.
Jobs in capital goods make sure the components used in the production process are available. This could be technical, like an engineer, or desk-based, like a project manager.
What industries are in capital goods?
If you work for a business that produces something to make a product or a service, you’re working in capital goods. You could be working in a diverse range of industries or fields, including:
- Automotive
- Agricultural
- Aviation manufacturing
- Construction
- Engineering
- Electrical
- IT
6 top capital goods jobs
Because capital goods range across different industries, so many jobs exist.
In fact, around 1.3 million jobs are available in the capital goods industry in the United States — ranging from aerospace and automation to supply chains and robotics.
Let’s look at some of the best-paying jobs in the capital goods industry.
Mechanical engineer
Mechanical engineers typically design, develop, and test mechanical systems and devices. These include engines, machines, and other kinds of heavy machinery you might find in manufacturing or aviation.
You’ll need a bachelor’s degree in mechanical engineering. That’s because you’ll need to be highly knowledgeable about complex subjects like materials science, thermodynamics, mechanics, and other areas of engineering to do this job.
If you can stomach it, the rewards are great. According to the U.S. Bureau of Labor Statistics (BLS), the median annual pay for a mechanical engineer was around $95,300 in 2021, with the potential to earn way more as your career progresses.
Electrical engineer
An electrical engineer designs, develops, and tests electrical equipment, systems, and devices. This includes motors, generators, communication systems like radios, and circuit boards. An electrical engineer may also oversee the maintenance of equipment.
However, don’t confuse this role with a software engineer. Electrical engineering jobs have been around for decades and primarily focus on hardware rather than software.
You’ll need to earn a bachelor’s degree in electrical engineering or a related field to land yourself this job. Plus, having an internship or experience in an entry-level position doesn’t hurt.
A median salary for an electrical engineer is around $94,718, but this can be much higher for a more experienced engineer. Typical employers include General Electric and Lockheed Martin.
Software developer
Software developers test, design, and develop software applications, programs, and systems. This involves writing code in programming languages like JavaScript.
A software developer tests and debugs lines of code and collaborates with other developers and designers to make sure the software runs properly and meets the needs of users or clients.
You’ll need a bachelor’s degree in computer science, software engineering, or a related field. In more specialized roles, you may need a master’s degree or higher and potentially some project management experience to lead teams successfully.
In 2021, software developers earned a median of $120,730 per year. The top 25% made $151,960 that year. Big employers include Apple, Google, Visa, Amazon, and American Express.
Project manager
Being a project manager requires strong organizational and communication skills and the ability to manage multiple stakeholders alongside competing priorities.
As a project manager, your day typically consists of planning, executing, and monitoring projects so they’re to your employer’s or client’s satisfaction.
Being a project manager usually involves coordinating with team members, managing budgets and timelines, mitigating risks, and communicating the project’s progress and desired outcomes.
You might need a bachelor’s degree in business administration or project management to get this job. You might also need professional certifications (like PMP) or certain years of experience for more senior positions.
The average salary for a project manager in the U.S. is $105,243 but could reach $231,000 for a top company.
Sales manager
A sales manager leads and manages a team of sales professionals to meet and exceed sales targets. Typically, you’ll develop strategies to increase sales, set sales targets, conduct market research to develop new sales opportunities, and create sales reports.
Employers typically prefer a degree in business administration. However, many employees work their way up to the position from being sales representatives. It’s possible to get this job without ever having gone to college.
The average salary for a sales manager in the U.S. is around $73,000 per year.
Engineering manager
An engineering manager oversees and coordinates engineering projects. For example, you might supervise the mechanical or electrical engineers mentioned earlier in this article.
Because these jobs require more authority than regular engineers, engineering managers typically have a bachelor’s degree in engineering and a master’s degree in management or business administration. Of course, work experience helps, and you might get job training.
The average salary for an engineering manager is around $126,000 but could be as high as $191,000.
What is the highest-paying job in the capital goods sector?
The highest-paying job in the capital goods sector is an engineering manager, who can make $149,530 per year on average.
Various jobs in capital goods lend themselves to different skill sets. These can range from engineering to marketing to technology.
Some other high-paying job titles in the capital goods sector are:
- Marketing manager
- Sales manager
- Software developer
- Quality control inspector
- Development manager
- Industrial engineer
- Manufacturing engineer
What education do you typically need for capital goods jobs?
The education needed to land some of these jobs depends on the position. Specifically, jobs like engineering manager require at least a bachelor’s degree. They might also require professional certifications.
Unsurprisingly, high-level jobs have more competition as they come with higher pay. But they generally require job seekers to have college degrees with the right technical knowledge.
What are popular schools for a career in capital goods?
If you’re considering a job in capital goods, matching the college you’ll attend with your dream job makes sense. For example, if you want to be a mechanical engineer, you’ll want to attend a college well respected for engineering.
We list some popular colleges for particular jobs in capital goods (based on the percentage of total degrees awarded by the school).
Engineering:
Business administration:
- California State University – Fullerton
- Western Governors University
- Southern New Hampshire University
Marketing:
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