What do capital goods jobs pay
Capital goods jobs refer to occupations in the manufacturing, distribution, and sale of goods that are used to produce other goods, such as machinery, tools, and equipment. These jobs can range from entry-level positions to management roles, and the pay can vary widely depending on the specific job, industry, and location.
So, what do capital goods jobs pay? According to data from the Bureau of Labor Statistics (BLS), the median annual wage for production occupations in the machinery manufacturing industry was $46,080 as of May 2020. This includes jobs such as assemblers, machinists, and welders who work on the production line to create capital goods.
For more specialized roles in capital goods production, such as mechanical engineers or industrial designers, the median annual wage was $88,430 and $68,890 respectively. These professionals are responsible for designing and improving the machinery and tools used in the manufacturing process.
In addition to production roles, there are also capital goods jobs in sales, marketing, and management. For example, sales representatives who sell capital goods may earn a base salary plus commission, with the potential for high earnings if they are successful in closing deals. According to Glassdoor, the average base salary for a capital goods sales representative is $63,350 per year, with the potential for additional commission earnings.
Management roles in capital goods companies can also be lucrative, with salaries that reflect the responsibilities and expertise required. According to data from Payscale, the median salary for a production manager in the capital goods industry is $76,836 per year, with some earning well over $100,000 annually.
It's worth noting that the pay for capital goods jobs can vary widely depending on the industry and location. For example, according to BLS data, the median annual wage for production occupations in the aerospace product and parts manufacturing industry was $66,590, while the median wage for the same occupation in the wood product manufacturing industry was $35,020.
Similarly, wages can vary widely depending on the location of the job. For example, the median annual wage for production occupations in the machinery manufacturing industry was $52,930 in Michigan, but only $37,740 in North Carolina.
Overall, capital goods jobs can provide competitive salaries for a range of skill levels and roles. From production roles on the manufacturing line to sales and management positions, the pay can vary widely depending on the industry, location, and specific job.
Sources:
- "Occupational Employment and Wages, May 2020: 51-0000 Production Occupations," Bureau of Labor Statistics, https://www.bls.gov/oes/current/oes510000.htm
- "Occupational Employment and Wages, May 2020: 17-2141 Mechanical Engineers," Bureau of Labor Statistics, https://www.bls.gov/oes/current/oes172141.htm
- "Occupational Employment and Wages, May 2020: 27-1021 Commercial and Industrial Designers," Bureau of Labor Statistics, https://www.bls.gov/oes/current/oes271021.htm
- "Capital Goods Sales Representative Salaries," Glassdoor, https://www.glassdoor.com/Salaries/capital-goods-sales-representative-salary-SRCH_KO0,32.htm
- "Production Manager, Manufacturing Salaries," Payscale, https://www.payscale.com/research/US/Job=Production_Manager%2C_Manufacturing/Salary