The capital goods enterprise refers to corporations that beget material assets (like machinery, computers, or buildings) that other corporations use to produce other goods. Capital goods are not consumer goods (like toothpaste, bicycles, or cellular phones). However, certain items, like vehicles, might be defined as capital goods if bought by a business but consumer goods if purchased by a consumer. How Many Jobs Are Available In Capital Goods?
What Are Capital Goods?
A capital good is something that has a long life cycle, such as a building or a car. The purpose of these goods is to increase productivity and efficiency. They also help us save money because we don’t need to replace them as often.
Also Read: Many Jobs are Available in Consumer Durables?
What Companies Are In The Capital Goods Field?
Best Paying Jobs In Capital Goods
Mechanical Engineer
Mechanical engineers design and build machines such as cars, trucks, trains, airplanes, ships, elevators, escalators, cranes, robots, and many others. They work closely with architects, chemists, computer scientists, electrical engineers, materials scientists, mathematicians, physicists, software developers, and many others to create new technologies and solve complex problems.
Engineers usually start their careers after earning bachelor’s degrees in engineering. Some employers prefer candidates who hold master’s degrees in mechanical engineering.
Manufacturing Engineer
Manufacturing engineer jobs in capital goods are available in many industries. They provide opportunities for individuals who want to work in manufacturing but do not necessarily want to become managers.
According to the Bureau of Labor Statistics, employment of manufacturing engineers is expected to grow 11% over the next decade. However, some experts believe that demand for manufacturing engineers may outpace supply due to increased automation and robotics.
Electrical Engineer
Electrical Engineering is one of the oldest engineering disciplines. There are many types of electrical engineers. Some specialize in power generation while others focus on transmission lines.
According to the Bureau of Labor Statistics, employment opportunities for electrical engineers are expected to grow by 17% between 2012 and 2022. That means there should be plenty of jobs available for those who want them.
Quality Control Inspector
Quality control inspector jobs are available in many industries. They may be found in manufacturing plants, food processing facilities, pharmaceutical companies, chemical manufacturers, and even in government agencies. A quality control inspector inspects materials and equipment used in production processes to ensure their safety and effectiveness.
According to the Bureau of Labor Statistics, employment opportunities for quality inspectors are expected to grow by 14 percent over the next decade. There should be plenty of work for qualified candidates looking to get into the field.
Marketing Manager
Marketing manager jobs are not new but there are many changes happening in the world of marketing. Many companies are now looking for marketing managers who can manage their business efficiently. These days, marketing managers need to be able to work with multiple departments such as sales, customer support, product development, human resources, finance, IT, legal, and others.
The average annual growth rate for marketing managers in capital goods was 9.8 percent between 2010 and 2015. This represents a compound annual growth rate of 4.6 percent.
Sales Engineer
Sales Engineers play a vital role in the Capital Goods business. They work closely with customers to ensure their requirements are met and support them throughout the sales process. Their main responsibility is to sell new equipment and systems to existing clients.
The average annual growth rate for sales managers in capital goods was 7.4%. This means that sales managers in capital goods had an average yearly increase of 7.4% from 2010 to 2015. A sales manager salary in capital goods depends on several factors such as experience, location, industry, company size, etc. The average annual salary for a sales manager in capital goods ranges from $60K to $120K depending on the position level.
Product Manager
Product managers are responsible for managing product development projects across multiple teams and functions. They work closely with stakeholders to define requirements, manage project timelines, and ensure successful delivery of high-quality software solutions. A study conducted by Pay Scale found that the median salary for a product manager was between $90,000 and $120,000 per year.
Business Development Specialist
Business development specialist jobs are available in many industries including manufacturing, construction, retail, technology, healthcare, finance, insurance, education, real estate, hospitality, food & beverage, transportation, logistics, government, non-profit, public sector, and others.
According to the Bureau of Labor Statistics, employment opportunities for business development specialists are expected to grow 20 percent over the next decade.
Basic Difference Between Consumer Goods And Capital Goods
A consumer good is something that is used for personal consumption, like food, clothing, etc. While capital goods are things that are used for production purposes, such as machinery, computers, etc.
| Consumer Goods | Capital Goods |
| Personal Use | Production Purposes |
| Cheap | Expensive |
| Short Life goods | Long Lasting Goods |
| Easy To Change | Difficult To Change |
Benefits Of Pursuing Jobs In Capitals Goods
The benefits of pursuing jobs in capital goods include the ability to work for a company that has a strong reputation, which means you’ll be able to find better job opportunities.
Also, working for a capital goods company gives you access to a wide range of skills, such as engineering, manufacturing, logistics, sales, and customer service.
Frequently Asked Questions
Conclusions
The deduction for a job in capital goods is that the corporation has a great future ahead. They offer high wages, flexible working hours, and excellent training programs. However, the downside is that the work conditions are quite stressful and require long hours.
