Jobs in the capital goods sector are highly sought after. The career path is chosen by innovative people and forward thinkers. But what do capital goods jobs pay? Do companies offer adequate pay rates for jobs in this sector?
On average, the capital goods sector pays a higher salary than the national average in the United States. While salaries vary according to position, the same positions in other fields are in lower demand and pay significantly less.
We’ve delved deep into the recruitment process in the capital goods sector to find out just how much jobs in this field typically pay. Of course, these numbers are merely estimates and are subject to change. Also, keep in mind that salaries increase or decrease according to a multitude of factors.
Typical Jobs And Pay In The Capital Goods Sector
You can take many career paths in capital goods. There are jobs in engineering, sales, software, marketing, quality control, and many more. The following is a list of capital goods jobs that pay exceptionally well.
Quality Control Jobs Have Low Requirements
In the capital goods sector, quality control jobs are an excellent option. You can get a job even if you don’t have access to higher education. The minimum requirements for quality control managers are a high school diploma. And, quality control jobs typically pay $40k per annum.
What is the job of a quality control inspector? Basically, this is the person responsible for checking manufactured goods to ensure consistent quality. This means assessing the manufacturing and shipment at every step of the line. High-quality products are important in this field.
Assembly Line Jobs
Jobs in the assembly line of capital goods also pay well. These jobs typically do not have high educational requirements. However, with the advance in technology and manufacturing processes, assembly-line jobs are more complex.
Workers need to be familiar with instruments in this line of work. They must be able to operate the assembly line and help manufacture products flawlessly. Speed and attention to detail are good skills to have for this job.
Capital goods assembly line jobs typically pay around $32k per annum.
Engineering Capital Goods Jobs Pay Higher Than Most
If you have any type of degree in engineering, then you can probably land a job in the capital goods. These jobs pay higher than most engineering jobs in the market. So, the competition is high. Some of the engineering jobs you can expect to find include:
- Electrical engineer: Without electronics, the manufacturing process would fall apart. So, electrical engineers help keep everything running smoothly. Some electrical engineers also help design assembly lines to keep them efficient.
- Mechanical engineer: Even outside of the automotive industry, mechanical engineers are tasked with managing the mechanics of assembly lines and production processes.
- Industrial engineer: These engineers are tasked with integrating the machinery, the workers, and a variety of systems to ensure products are manufactured in the best possible manner.
- Engineering management: Even engineers need someone to lead the team. Engineering managers are responsible for integrating a team of different engineers. Generally, they are engineers that have years of experience.
- Robotics engineer: Industrial processes nowadays are highly automated. Robotics is a field in manufacturing that deals with the automation process and engineers are tasked with the design, maintenance, and repair of robots in the manufacturing process.
- Software engineer: Software is what drives the robots and various automated processes in the capital goods industry. Software engineers help translate ideas into computing language and help computerized manufacturing processes.
Naturally, the pay rate varies between these jobs. However, you can expect a salary between $88k-$150k per annum for engineering jobs in the capital goods sector.
Sales And Marketing Jobs
As you’d expect in any other industry, there are sales and marketing jobs available. These go beyond affiliate marketing tactics, so you’ll need a university degree. Sales and marketing teams are tasked with developing elaborate strategies to increase revenue.
The strategies used to sell and market capital goods are much more sophisticated. Do not forget that these are B2B (business-to-business) marketing tactics. Landing a client often means making deals worth millions (if not billions) of dollars.
Marketing jobs in capital goods pay around $110k per annum, while sales jobs pay $74k per annum.
Where To Find US Capital Goods Jobs That Pay Well
Once you’ve decided to explore career options in the capital goods sector, you will need to start job hunting ASAP. One critical piece of advice we can give you: apply everywhere. Even if you don’t think you’ve got what it takes. It doesn’t hurt to try.
Check out our other article on capital goods to see which companies are in capital goods. To find job openings, you’ll need to regularly check:
- Job boards
- Indeed.com – claims there are over 55,000 jobs available
- Social media groups
Tips For The Interview: Capital Goods Jobs
After applying to several jobs, you’ll probably land an interview if your resume fits the job description. Capital goods jobs require a lot of technical training, so you will need to showcase that during the interview. Make sure you research the company you are interviewing with ahead of time. You might also want to research the interviewer if possible.
For entry-level jobs, you may not have much knowledge to showcase. How can you impress an employer for entry-level capital jobs? Show them that you have the basics down to a tee. They should be confident that you:
- are a fast learner,
- can follow elaborate instructions,
- can handle large machinery,
- have a good grasp of the technical side of the job
What Do Capital Goods Jobs Pay Interns?
Most people thinking of starting a career are likely to only apply to entry-level jobs and internships. In today’s job market, internships sometimes come without salaries. Luckily, there are very few capital goods internships that are non-paid.
The reason is, that the technical requirements of internships in capital goods are relatively higher than in other sectors. There is a lot of on-the-job training, and the jobs are often dangerous. Corporations understand the importance of paying their interns well, and they do.
We can’t give estimates on how you can expect to be paid as an intern. Because most companies keep that confidential and reports vary widely.
Job Satisfaction: Are Capital Goods Worth It?
Now that we’ve gone over what capital goods jobs pay, you might be considering the career path more and more. But is the career path for you? Why should you build a career in the capital goods field? There are several pros and cons, which we will go over below.
Generally speaking, people in the capital goods sector report being highly satisfied with their career choice. The jobs pay well, and there is plenty of room for promotion.
The bottom line is, that capital goods are considered a good career path.
One of the major advantages of working capital goods is that the industry is showing signs of growth and it’s not going anywhere soon. Job security is important because you can expect to keep your job for years to come.
For example, people working as traditional cab drivers have suddenly found themselves out of work because ride-sharing apps have taken over. The chances of a similar takeover happening in the capital goods field are negligible.
Most of the companies in capital goods are multinational conglomerates or large corporations. Generally, that means they can afford to pay better wages. Also, the benefits and perks that come with the job are highly sought after.
Whether it’s top-notch insurance policies or excellent retirement plans—the benefits offered by many employers in the industrial sector are valuable. Moreover, for many job seekers, benefits are a major reason for choosing one job over the other.
It’s difficult to be part of an industry if you feel it is lacking creativity. What’s more, the industrial sector is well-known for innovation. If you want a job that will continuously push your creative side and demand that you think outside of the box—this is the place to find it.
Pros: Low Requirements In Some Fields
Don’t have a degree? No problem. There are many jobs available in the industrial sector that have low requirements. Some jobs only require a high school diploma! Companies often offer on-the-job training, so you will learn everything you need to know as you work.
Besides, don’t take the low requirements to mean that you’ll be stuck in a dead-end job forever. In the capital goods field, there is a lot of room for promotion. Many people rise up the ranks and get promoted to inspectors, supervisors, and managers. All without ever going through any formal higher education.
Cons: Health Hazards And Dangers
Let’s be serious—industrial processes are large-scale and often dangerous. Working in the industrial sector means you will need to be comfortable with health hazards, (comparatively) dangerous working conditions, and more.
If you aren’t comfortable going to work in a hard hat, then maybe this isn’t a choice for you. However, it’s worth noting that most large-scale operations take pride in their safety standards. Protection and safety gear is a must and many exceed expectations when it comes to health safety.
Cons: Technical Difficulty
We did say that the jobs often have low requirements to apply. However, that doesn’t mean that it’s easy sailing. Building a career in capital goods and getting jobs that pay well means you will need to have technical knowledge. The on-the-job training is highly technical and can be difficult for some people.
Skills You’ll Need To Get Ahead
By now you’ve either moved on to a different idea for your career or this article has cemented the thought of growing in the capital goods field. What skills do you need to get ahead in capital goods?
The skills you will need to develop depend on the job. However, when it comes to capital goods, there are a few skills that will facilitate your career path. These include:
- Technical knowledge. Even if there is no direct need for you to know the technical details about how a machine runs, it’s best to familiarize yourself with them. Thorough technical knowledge of your manufacturing process will help you move up the job hierarchy.
- Organization. The ability to organize and multitask is a good skill to have for any job. In the capital goods sector, this skill is worth millions. You should be able to save your company’s time and money by organizing tasks well.
- Creativity and Innovation. The capital goods sector is an ever-evolving field of work. The industry is changing by the day and keeping up is an important part of the job. Innovative ideas and recognizing creativity will help you bring more to the company. Finally, if your ideas are consistently innovative, companies will compete for you to work with them.
Final Thoughts: Do Capital Goods Jobs Pay Well?
Building a career in the industrial sector comes with many benefits. Many capital goods jobs pay comparatively high salaries. However, employees have their work cut out for them. From health hazards and dangers to the steep learning curve—it’s not an easy career path to choose.
If you think you have what it takes, capital goods jobs can be a great career option as there are many opportunities for growth and promotions. The competition is high but there are many open jobs at the moment, so start applying today.