How many jobs are available in capital goods: Finding a sector with more job opportunities than capital goods is complicated. A 6 percent growth is expected between 2016 and 2026 in this industry, according to the Bureau of Labor Statistics. All occupations combined have a growth rate of more than double that. Think about pursuing a career in capital goods if you’re seeking a job with lots of room for advancement.
Companies in the capital goods industry produce physical assets (such as machinery, computers, or buildings) for use by other companies. On the other hand, a capital good is not a consumer good (like toothpaste, bicycles, or mobile phones). If bought by a business, some items, such as vehicles, would be defined as capital goods, but if purchased by a consumer, they would be described as consumer goods. For a closer look at employment in related industries, check out our article on How Many Jobs are Available in Technology.
What Is Capital Goods?
During the production process, capital goods are utilized by firms to create goods and services that consumers will eventually consume. Fixed assets include buildings, machines, equipment, vehicles, and tools. Capital goods are any form of fixed assets.
Why is the Capital Goods Industry Important?
As one of the country’s largest industries, Capital Goods is one of the biggest in the world. It is responsible for developing daily products and employs more than 6 million people. Companies in the Capital Goods Industry manufacture airplanes, trucks, computers, and automobiles. If you’re curious about career opportunities in this field, check out our article on Best Paying Jobs in Industrial Machinery/Components to explore some of the top roles in the industry.
How Many Jobs Are Available in Capital Goods?
How many jobs are available in capital goods, There are a variety of sources that indicate the exact number of capital goods jobs available. Job openings in the capital goods industry are estimated to range from 970,000 to 1.3 million, according to multiple sources. Approximately 150,000 of these jobs are manual labor.
Top 5 Highest-Paying Jobs in Capital Goods
Capital goods are a great industry to pursue if you’re looking for a career! Choosing a high-paying job is not difficult. Capital goods jobs with the best salaries include:
- Business development manager
- Manufacturing manager
- Engineering manager
- Software Developer
- Electrical engineer
1. Business Development Manager
Business development managers earn an average salary in the United States based on their salary. According to the BDM Compensation Report released on July 26, 2022, the average business development manager’s salary is $130,023 annually, while the range typically varies between $100,009 and $150,000. Education, certification, additional skills, and experience determine a range of salaries.
Average salary: $130,023
2. Manufacturing Manager
Manufacturing managers in the United States earn an average gross wage of $120,840 per year, or $58 an hour, according to SalaryExpert. According to the salary expert’s data, the average bonus made by a manufacturing manager is $9,764. It takes an average of $84,578 to become a manufacturing manager with between one and three years of experience. An experienced manufacturing manager earns, on average, $150,102 per year.
Average salary: $120,840
3. Engineering Manager
Based on Payscale’s research, engineering manager salaries are closely related to experience. It is estimated that an engineering manager earns an average salary of $119,036 each year, but the amount varies based on the person’s experience.
Average salary: $119,036
4. Software Developer
You can check out U.S. News to learn about software development, one of the best-paying jobs in the capital goods industry. Software developers earned on average $110,140 in 2020 (25% of top earners made $140,470 and 25% of lowest earners made $84,020).
Average salary: $110,140
5. Electrical Engineer
Among electrical engineers in the U.S., the average annual salary is around $105,420, according to Career Explorer. A seniority-based salary category is also available. A top-level electrical engineer earns $78.33 per hour and $162,930 per year. The hourly salary of a senior-level electrical engineer is $61.81, and the yearly salary is $128,560. In mid-level electrical engineering, the hourly wage is $48.28, and the annual salary is $100,420.
Average salary: $100,420
How To Find A Job In Capital Goods
In addition to government offices such as The Department Of Energy, NIST, and others, you can also find Capital Goods jobs. Finding a career in the private sector in Capital Goods is also possible. A wide range of private companies commonly provides Capital Goods.
Is the Capital Goods Industry a Good Career Path?
Capital goods can be a career path for various reasons. Several people in this field work in marketing, production, research, and development, all of which are ideal jobs for skilled and knowledgeable people in particular areas.
There are plenty of companies specializing in capital goods that pay good wages and provide good benefits for their employees. A long-term employment possibility is one of its main advantages.
What Are the Benefits Of A Capital Goods Job?
A career in capital goods offers numerous advantages. There are many advantages to working in capital goods, including steady income, advancement opportunities, and home-based jobs. Working in the capital goods industry has the following three benefits:
The income from a capital goods job is steady
It is unnecessary to worry about the economic conditions when working in capital goods because most jobs offer steady incomes that can be depended upon at any time. Financial stress doesn’t affect your finances in this way, which is a significant benefit.
Capital Goods Industry Offers Opportunities For Advancement
There are numerous advancement opportunities in the capital goods industry. Success is within your grasp, and you can attain it. As an applicant, you can gain valuable experience and knowledge.
You Can Work From Home As A Capital Goods Employee
Many capital goods jobs allow employees to work from home, which is excellent since it gives you more time off to spend with your family. You can work from home if your children are in school or you don’t have any other commitments that day.
The Best Resources For Finding Capital Goods Jobs
An Job Boards Online
Online job boards are an excellent way to locate one of the top capital goods jobs. The company, job title, location, and many other criteria can be used to search for currently available positions.
Websites of Companies
You should regularly check the careers pages of each company’s official website to see if any new positions are advertised once you have compiled a list of capital goods manufacturers you are interested in working for.
Taking an Internship
We invite you to apply for an internship with a capital goods manufacturer if you are interested. Most companies will consider hiring interns for full-time positions if they perform well during their internships.
The College Career Center
After graduation, career centers assist students in their job search through colleges. Are you a recent graduate, or are you still enrolled in college? If so, check out the career services your school offers.
An Organization of Professionals
In addition to networking with other professionals, becoming a professional group member will provide you with timely information regarding the job market that pertains to your field. A job board is often available through professional organizations.
Capital Goods Industry Consists of What Industries?
Products used to make other products are included in the capital goods industry. After the manufacturing process, it is possible to use the products to manufacture other products. A capital goods industry comprises aerospace, automobiles, electronics, and aerospace.
FAQs
Which Companies are Involved in Capital Goods?
An organization that manufactures goods other than raw materials is considered a capital goods company.
How will Goods be Produced? What Kind of Capital will be Used?
The production of goods relies on raw materials, land, labor, and capital goods. Goods are produced with the help of debt and equity in the capital sphere.
What are the Types of Capital?
Trading capital, debt capital, equity capital, and working capital are four of the most common types of money.
Three Factors Contribute to Production. What are They?
Land, labor, and capital goods are the main factors of production.
Conclusion
A country’s economy cannot function efficiently without capital goods. To make products that sell on the market, industries like steel and engineering rely on capital goods. A growing number of jobs are available in these fields to meet the increasing demand for these goods.