When it’s time to make career decisions, many factors have to be considered, especially if you are choosing a career path slightly different from the mainstream. Considering the capital goods industry is okay, but you will want to have answers to some important questions before you go ahead. Some of them include how many jobs are available in capital goods. What are the best paying jobs in the industry? Is capital goods a good career path? And many more.
You are not on the wrong path asking these questions. They are important to help you make informed decision about your future. However, unfortunately, capital goods is a good industry to pick up a career. Not only there are several amazing job opportunities there, but jobs there also pay well.
This post will show you some important things you need to know about the capital goods industry. You will know about the perks and benefits of working there. And why we think it is a great industry to pick a career.
Table of Contents
How Many Jobs Are Available In Capital Goods?
Let’s start out by answering your question. There are several job opportunities available in the capital goods industry. And that’s one of the advantages of picking a career from there. Since the industry comprises several other industries, there are always a lot of choices to choose your ideal job position from.
Whether entry-level opportunities or advanced career options, there are just a lot of them in the capital goods. The industry presently provides employment for more than 12 million people in the United States.
In the later sections of this post, we are going to be showing more light on the type of jobs available in the capital goods and what their pays and perks look like.
What Are Capital Goods And Some Examples?
Capital goods simply refer to durable goods that are purchased by companies in other to be used in the production of other goods and services. This includes everything from equipment and machinery to vehicles and buildings.
Companies found in the capital goods industry basically deal with the production and sales of equipment, machinery, and other physical products used in the production of other goods and services. The capital goods industry is a very important one in our economy because of its role in making sure most of the things we use and have around today are available.
The industry also employs a large number of workers and so contributes to a huge part of the workforce sector of any economy.
What Are Some Examples Of Capital Goods?
Capital goods are not limited to only physical products; they can also be services that facilitate the production of other goods and services. To have a better idea of the industry, here are some examples of capital goods.
- Machinery
- Equipment
- Automotive
- Buildings
- Textile, including wool, cotton, and nylon
- Chemicals, such as minerals, oils, and natural gases
- Steel
- Electronics
Now you can see that capital goods are not just one; there are lots of them… and across various industries.
Is Capital Goods A Good Career Path?
Now that you know what capital goods are and some examples, the next question to consider is, ‘is capital goods a good career path? From the little you have read above about the capital industry, you might already have the feeling that it is a good industry to pick a career. And yes, you are right. The capital goods industry is a good career path for anyone interested in working in a company where things are happening.
One of the main reasons the industry could make good ground to pick a career is the fact that there are lots of career and growth opportunities there. There are a wide variety of jobs there across different educational levels and experience. Jobs there are also very rewarding as most of the jobs in the capital goods come with good pay and extra perks.
There is room for growth and advancement. Working as a worker in the capital goods means acquiring a lot of skills that can also be useful in other facets of life. Jobs here also come with great satisfaction – not a boring 9-5 job.
So, if you have some interests in science, mathematics, and technology and also love machines and engineering, you don’t have to ask, ‘is capital goods a good career path.” Just go for it because the answer will always be yes for you!
What Type of Jobs Are Available In the Capital Good Industry?
Let’s drive to drive things a bit home here; let’s look at some common job positions available in the industry. We will also look at what their salaries look like and many more.
- Warehouse workers: The major responsibilities of this professional include stocking products, placing an order, packaging, preparing orders for delivery, and many more. Although their work may be somehow tedious, they get rewarded well for their hard work and have great satisfaction working in the warehouse. As a warehouse worker, you can earn up to $33,800 per year with lots of extra perks.
- Manufacturing technicians are majorly involved in the inspection and testing of products and ensuring the proper working of the equipment. They mostly deal with the maintenance of machinery and earn up to $48,000 per year.
- Sales engineers: These ones are in charge of selling finished products and services to customers. They also provide customer support and provide answers to many questions that customers might have. They earn an average of $74,000 per annum.
- Manufacturing engineers: deal with the machinery, looking out for areas where there could be an improvement in the equipment and manufacturing processes. A manufacturing engineer earns an average of $80,000 per annum.
- Computer-aided design technicians: Earns about $50,000 per year designing and manufacturing products, usually through CAD software.
- Quality control inspector: The role of a quality control inspector is very important to production. They are in charge of testing and maintaining quality standards with a sharp eye for details. As a quality control inspector, the average you can earn per year is about $40,000.
- Robotics engineer: These professionals earn an average of $95,000 per year and are always responsible for designing automation tools and electromechanical robots in the company.
- Assemblers: An assembler makes an average of $32,500 per annum. And their sole duty is to ensure the proper conversion of raw materials into finished products.
- Engineering managers: The primary job of an engineering manager is to manage the team of engineers involved in production. They are also in charge of overseeing the design and development of new products. The average salary of an engineer manager is $110,000 per year.
Some Popular Companies in the Capital Goods Industry
There are many companies in the U.S. that all belong to this industry. Most of them have a massive dominance on the market or produce products or services that greatly impact the U.S. economy. Here are some popular companies in the capital goods industry:
- Union Pacific – has more than 10,000 employees working in the company
- General Electric – currently has more than 10,000 employees
- Honeywell International – has 10,000+ employees working in the company
- Lockheed Martin – has more than 10,000 employees
- Northrop Grumman – currently has 90,000+ employees working for them
- 3M – one of the largest companies in the capital goods industry. The company presently has 93,000+ employees
- ABB – employee size of ABB is between 5,000 and 10,000
- United Rentals Inc. – employee size is 10,000+
- Caterpillar Inc. – this company is also a big one and presently has about 10,000+ employees working or them.
Final Note on ‘How Many Jobs Are Available In Capital Goods’
The capital goods industry is an interesting one for anyone to choose a career. There is a wide range of job opportunities there, and the pay is also handsome. There is amazing job satisfaction, and every job position there comes with lots of perks and benefits.
If you are asking, ‘is capital goods a good career path,’ then the answer is Yes! Go for it.