If you’re considering a career in capital goods, you will definitely need to spend some time doing your research in order to figure out whether this is an appropriate career for you or not. But don’t worry, we’ve done the hard work for you.
In this post, you’re going to find a complete guide on the capital goods career path and the benefits of choosing a capital goods career.
So, if you are excited about a career in capital goods companies, you can use this post to finally reach your goal of starting a career in the capital goods industry. Now let’s dive right in and learn everything you need to know about a career in capital goods.
What are Capital Goods?
Capital goods are items that are used in the production of goods and services. They include things like factories, equipment, and tools. These items are used to produce more goods and services, which means they can be used to generate income.
For example, if you are an owner of a large factory, the capital goods will include your land and building, trucks, office equipment, and other machinery needed to produce products.
Why Capital Goods are Important?
The capital goods industry is very important because it’s directly related to the Gross Domestic Product of a country. Capital goods are important because they provide the means for businesses to produce additional goods and services.
By providing the means for businesses to produce more goods and services, capital goods help to increase productivity and GDP. As a result, businesses can earn more money and maintain their competitiveness in the market.
These goods also provide a foundation for businesses to expand their operations, which in turn creates new opportunities for businesses and employees. In addition, capital goods often help reduce costs associated with producing or supplying a product or service.
What Does a Capital Goods Company do?
Capital goods companies are those businesses that sell capital goods for their clients. What this means is that these businesses are responsible for all the production processes that go into producing a good.
In other words, capital goods companies sell machines, computers, trucks, machinery, and other products that are used to produce other businesses’ final products.
Capital goods companies are also known as manufacturers, and makers. These companies produce every type of product from cutting and manufacturing to mining raw materials and machining them into final products. They create prototypes for new products and then begin production on that new product for the market.
Advantages of Working in the Capital Goods Industry
The capital goods industry is one of the largest industries in the United States, India, and Pakistan and that is constantly growing. According to a Business Standard study, the capital Goods industry has surpassed the production value of US$ 70 billion in 2017 and is anticipated to cross the figure of US$ 100 billion by 2025.
It contributes 2 to GDP and serves as a major multiplier for employment. But what kind of benefits you can enjoy while working in the capital goods industry? Here are some benefits of working as a capital goods employee:
1. High Salaries
If you are considering a career in the capital goods industry, you should have to understand that it pays well. Different jobs in the capital goods industry have different pay rates, but you can rest assured that most of them will net you over $52,000 per year in your first year of employment. That proves that the capital goods position is one of the higher paying positions out there.
2. Job Security
When you work in the capital goods industry, you will have job security and a steady income because it is a growing industry. The demand for capital goods is always on the rise, so new players are constantly entering the market to meet customer demands.
Because there is always a demand for capital goods products, your job will be easy to find. When it comes to job security, you will have a high chance of keeping your job forever.
3. Opportunity for Growth
There is also a great chance that you can get promoted to higher positions with capital goods companies. But it depends on your skills and works ethic whether you can become the next CEO of a capital goods company or not.
Even though there are different positions in the capital goods industry, all of them have the potential to grow over time. That is why you should consider a capital goods career to get a good future.
4. Flexible Work Environment
If you are a parent or have other obligations, you don’t have to worry about being able to spend time with your family because capital goods companies are usually flexible when it comes to working hours and schedules.
Also, capital goods companies have flexible policies when it comes to personal lives and your family. I think that it is great to work in a company that allows you to care for your family’s needs and life. Because every one of us works for our family and gives them a better standard of living.
5. Variety of Career Options
The capital goods industry offers a wide range of careers for its employees. Depending on your skills and interests, you can pick from the different career paths available in this sector.
This means that whether you want to work in the sales department or want to work in production, you have a wide range of career choices.
Never limit yourself to one specific branch of the industry. Try to upgrade your skills and work in different departments to see the different career paths available for yourself. That’s how you can become one man army that every company needs.
15 Best Paying Jobs in Capital Goods 2022
There are many different ways to earn a living in the capital goods industry, and your salary will vary based on your education and experience. But if you are new and don’t know how much you could be earning in the capital goods industry, we’ve picked out 15 of the best-paying jobs in capital goods that you can go after, but don’t forget to continue your research to find the position that best fits you and your personality. Let’s explore.
1. Sales Engineer
Annual Income: $85,915
In this job, you have the responsibility of providing sales engineers with the opportunity to sell their products to customers. You’ll need extensive knowledge of capital goods, as well as the ability to provide advice on various aspects of the products in order to ensure that your company’s customers are satisfied. Tasks will vary from company to company, but your role will usually include sales, marketing, and business development.
2. Purchasing Manager
Annual Income: $121,456
You’ll need to make sure that the office of purchasing is well managed while ensuring that the budget is kept and audited. You’ll also be responsible for making sure that all of the necessary supplies and materials are available to ensure that work can continue to be completed on time. You’ll also need a thorough knowledge of capital goods and accounting, as well as the ability to negotiate to ensure that a comprehensive understanding of all aspects is reached.
3. Business Development Manager
Annual Income: $130,023
You’ll be responsible for developing business relationships, as well as retaining existing customers. You’ll work closely with the sales team to ensure that the right amount of work is completed and that customers are satisfied. You’ll need a thorough knowledge of capital goods, as well as the ability to identify market trends and analyze business opportunities.
4. Engineering Manager
Annual Income: $149,318
As an engineering manager, you will be responsible for ensuring the creation of new products and their functionality. You’ll need strong communication skills, as well as the ability to mentor and assist those in your charge. The job will usually require a master’s degree in engineering, industrial management, or a related field. Tasks will include creating prototypes and design specifications, as well as overseeing the development of new products.
5. Industrial Designer
Annual Income: $61,622
In this job, you’ll be responsible for providing assistance, ideas, and advice regarding a company’s products, as well as the development of new products. This will involve sketching, modeling, and using various materials to ensure that your ideas are executed accurately. You’ll need to be creative and have strong communication skills to be successful in this position.
6. Marketing Manager
Annual Income: $112,570
Part of your job will be to create marketing strategies for your company. You’ll need to analyze trends and competitors, as well as provide strategies that ensure your products are well received by the public. You’ll also need to develop sales forecasts, craft campaigns, and create advertising and public relations materials.
7. Software Developer
Annual Income: $127,263
The software developer is a crucial position that helps to ensure that the technology in use by the company is up-to-date and installed properly. You’ll also assist in setting up the development of new software and applications to ensure that the company continues to grow. You’ll also need to ensure that the applications are updated frequently to ensure that they’re up-to-date. Security, bug fixes, and the overall technical performance of the software will all be part of your job.
8. Electrical Engineer
Annual Income: $92,538
If you’re an electrical engineer, you’ll need to be responsible for the development of electrical systems, which can include planning, design, and installation. You’ll need to make sure that the systems are installed properly to ensure that they are safe to use. Your company will also need you to make sure that all of the electrical systems and devices are compatible, which means that you’ll need to have a thorough knowledge of electrical technology, as well as advanced skills in engineering.
9. Senior Machinal Engineer
Annual Income: $106,700
You’ll spend most of your time working with engineers, as well as test technicians and various resources to ensure that the maximum amount of work can be produced. Machines will be your primary responsibility, while also ensuring that they are maintained and repaired as needed. You’ll also be responsible for various quality assurance tests to ensure that all of the machines are in working order.
10. Research & Development Manager
The R&D Manager will ensure that the purchasing department is well stocked and that the products are of top quality. A good R&D Manager will ensure that the purchases are accurate and up to date. This position requires excellent research skills and good interpersonal skills so that you can work with different departments and people to ensure that the project goals are met. You have a good knowledge of market research, project management skills, and an understanding of the capital goods industry trends.
11. Warehouse Worker
Annual Income: $43,147
Warehouse workers are responsible for inspecting every item that is purchased and stored. They will keep track of the inventory while making sure that it’s all properly cataloged, which means you’ll need to be organized and attentive so that you can keep track of the items. Stocking, packing, preparing, and delivery of items and goods will also be your responsibilities. You will need to be able to negotiate, keep your cool under pressure, and have a thorough knowledge of everything that goes on in the transportation industry.
12. Project Manager
Annual Income: $80,771
You’ll play an integral part in making sure that the project is completed to your client’s satisfaction. You’ll need experience with capital goods, as well as knowledge of engineering, construction, and marketing. You’ll be responsible for the overall coordination of the project and will work to ensure that it meets deadlines, while also ensuring that it is completed within the budget.
13. Product Development Engineer
Annual Income: $89,057
If you want to work for a company that produces goods and services, this is the perfect job for you! Your role will be to help develop new products that are efficient and effective. You’ll be responsible for making sure that everything in the product is designed correctly, as well as making sure that all of the requirements are met. You’ll be working closely with both business and engineering, so you’ll need a thorough understanding of both. The quality of products and services will depend on your work, so make sure you give it your all.
14. Quality Assurance and Control Manager
Annual Income: $129,650
Your role as quality assurance and control manager will be to make sure that all production is carried out according to specification. You’ll need to audit the performance of your staff and be able to spot potential issues before they happen. You’ll also need to ensure that the quality of your products and services meets the highest standard. Make sure you are familiar with the quality standards set forth by your industry and you can demonstrate your knowledge of the various aspects involved in all stages of production.
15. Training and Development Manager
Annual Income: $127,300
In this job, you’ll be responsible for developing and managing the organization’s training and development system. You’ll need to work with employees to identify their needs, as well as develop training programs that will help improve the skills of your employees. You’ll also need to make sure that the training system is environmentally friendly and that it can be implemented in a timely manner. The next talent-finding is the responsibility of a training and development manager.
32 Best Capital Goods Companies You Can Work For
This is the most exciting part of this guide. We’re going to go over some of the best capital goods companies that you can actually work for in your career. You don’t need to do research for that because this post is a one-stop shop. Here is my list of top-rated companies in the Capital Goods market that you can actually start your career with.
- Mitsubishi Corporation
- China Railway Construction Corporation
- ITOCHU Corporation
- Boeing Co
- Siemens AG
- Airbus SE
- ABB Limited
- 3M Company
- Johnson Controls International PLC
- Marubeni Corporation
- United Technologies Corporation
- Caterpillar Inc.
- Compagnie de Saint Gobain SA
- Sumitomo Corporation
- Volvo AB
- Mitsubishi Electric Corporation
- Bouygues SA
- Cummins Inc.
- Paccar Inc
- Daikin Industries Limited
- Valeo SA
- Rolls Royce Holdings Plc
- Eaton Corp PLC
- Deere & Company
- Aisin Seiki Co Ltd
- Hochtief Ag
- BAE Systems PLC
- Larsen & Toubro Limited
- Ferguson Holdings Ltd
- Shanghai Construction Co. Ltd.
These are some of the best capital goods companies that you can work for in your career. These are some of the top companies in the world known for their capital goods. Plus you can also check out our list of the top 9 Companies in the Capital Goods Field with more static data that can help you to choose a better company according to your interest and skills.
Now you have a clear picture of the capital goods field, so if you’re ready to start a career in capital goods, use the information, do some more research and you are ready to go.
Your capital-good career is just around the corner. I hope you have enjoyed this article and if you have any questions, don’t hesitate to leave a comment below. If you have some advice or opinion about a capital goods career, please share them with us.
We love to add new and updated information to our blog and we’re happy if you can share some of your experiences with us. Now I wish you good luck in your capital goods career. Stay positive and stay strong.