What Do Capital Goods Jobs Pay? who work in the manufacturing sector—specifically software engineers and managers, process engineers and managers, production engineers, and production managers—earn some of the highest salaries in the US. In fact, manufacturing jobs are so lucrative that they should be considered capital goods.
What are Capital Goods?
Capital goods are products that are used to produce other products or services. They include everything from cars and trucks to smartphones and computers. Capital goods jobs typically pay well, because they offer a variety of benefits, such as flexible hours and opportunities for career growth.
Types of Capital Goods
Capital goods are products that are used in the production process of other products. They can be divided into two categories: durable and non-durable. Durable capital goods last longer and are more expensive to replace than non-durable capital goods.
Non-durable capital goods are typically cheaper to replace, but they may not last as long as durable capital goods. Non-durable capital goods include things like tools, machines, and vehicles.
The average annual salary for a production manager is $96,000. The average annual salary for a production engineer is $122,000. The average annual salary for a mechanical engineer is $125,000.
What is a manufacturing engineer?
A manufacturing engineer is a professional who designs and oversees the manufacture of capital goods, which are devices, systems, or products that are used in production. Capital goods include items such as aircraft, automobiles, heavy machinery, and medical equipment. The manufacturing engineer typically has a bachelor’s degree in engineering or a related field.
What are Manufacturing Engineers paid in the USA?
Capital goods jobs in the United States typically pay a higher salary than service sector jobs. In fact, the median weekly wage for manufacturing engineers was $1,112 in May of 2018. This compares to a median weekly wage of $726 for all occupations. The main reasons for this discrepancy are the longer hours required for manufacturing and the higher level of skill and experience typically required for these jobs.
Relative Roles of Manufacturing Engineers in an Organization; Career Paths; Salary
Manufacturing engineers are in a unique position within an organization, as their relative roles can vary greatly. They may be responsible for everything from ensuring that machines run smoothly to developing new manufacturing processes. Regardless of their role, all manufacturing engineers typically receive a salary that reflects the importance of their position in the organization.
How Does Your Role Fit with Other Kind Jobs at Walmart, Costco, and Amazon?
Inventory management, picking, packing, shipping, receiving and accounting are all important tasks in the capital goods sector. In most cases, these jobs pay well above the average wage for jobs in the retail sector.
The median wage for inventory managers is $83,460 annually, while warehouse workers earn a median wage of $43,520 per year.
Picking and packing workers make a median wage of $27,970 annually, while shipping and receiving workers earn a median wage of $32,190 per year. Accounting and administrative support professionals typically earn a median wage of $41,340 per year.
The best paying jobs in the capital goods sector tend to be found at Walmart and Costco. The top earning inventory managers at Walmart make a median wage of $101,260 annually, while warehouse workers at Costco earn a median wage of $119,000 annually. Amazon’s top earning shipping and receiving workers make a median wage of $130,610 annually.
