The capital goods sector also known as the industrial sector is a category of stocks related to the manufacture or distribution of goods. The sector is diverse, containing companies that manufacture machinery used to create capital goods, electrical equipment, aerospace and defense, engineering, and construction projects.
Is Capital Goods a Good Career Path
Yes, capital goods is a good career path. However, the current state of the economy determines the performance of this sector. This means when the economy is performing the sector will also perform.
According to statistics from the Bureau of Labor Statistics, there are about 1.3 million jobs available in this sector. Also, the salary in this sector is reasonably okay to keep one soul and body together. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, and the number of years you have spent in your profession. However, the average salary in this sector is between $70,000 – $100,000 per annum.
To have a fulfilling career in this sector, the specific skill set you bring to the table will go a long way to give you a competitive advantage.
Jobs in Capital Goods Sector
There are over one million of jobs in this sector. This means getting a job in this sector isn’t as difficult as in other sectors provided the economy of the country is performing well. Few of the jobs in this sector include
- Software Developer
- Business Development Manager
- Marketing Manager
- Manufacturing Engineer
- Engineering Manager
- Quality Control Manager
- Manufacturing Technician
- Sales Engineer
- Research and Development Technician
- Research Specialist
- Industrial Designer
Why Capital Goods a Good Career Path
A good number of capital goods company embraces diversity and inclusion. This means regardless of your race, religion, educational background, and gender you are welcome and every of your contribution towards the success of the organization is valued. For example, At General Electric (GE), they are committed to building a more diverse workforce and a more inclusive workplace by focusing on transparency, accountability, and community.
Below are the reasons why capital goods is a good career path.
Growth: Personal and professional growth is very essential to anyone seeking a good place to work. Also, it is an important attribute of any good job because it allows you to keep learning and advancing in your career. Employee growth is at the heart of most public utility companies.
Salary: Apart from a relatively good salary in this sector. A good number of companies in this sector provide additional benefits like relocation assistance, dental insurance, parental leave, vision insurance, paid time off days, health insurance, and disability insurance. According to Glassdoor, the national average salary for a capital goods specialist is $80,142 per year for entry-level in the United States.
Job Security: There is a reasonable level of job security for capital goods specialists. Having security in your job means you understand that if you meet expectations, you can remain in that role. This profession is not as crowded as some other careers, so this makes specialists in this career more secure.
12 Big Capital Goods Company You Can Work
- Union Pacific: The company engages in shipping food, forest products, automobiles, agricultural products, coal, and chemicals – safely and on time
- General Electric: GE has long been a leader in Power, Renewable Energy, Aviation and Healthcare. Today, GE also leads in delivering solutions across Additive Manufacturing, materials science and data analytics.
- Honeywell International: is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.
- Lockheed Martin: It is an American aerospace, arms, defense, information security, and technology corporation with worldwide interests
- United Rentals Inc.: United Rentals is the largest equipment rental company in the world, with a store network nearly three times the size of any other provider and locations in 49 states and ten Canadian provinces.
- Boeing: It is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide.
- Caterpillar Inc: is an American Fortune 100 corporation that designs, develops, engineers, manufactures, markets, and sells machinery, engines, financial products, and insurance to customers via a worldwide dealer network.
- Northrop Grumman: is an American multinational aerospace and defense technology company
- 3M: is an American multinational conglomerate corporation operating in the fields of industry, worker safety, U.S. health care, and consumer goods
- ABB Limited: is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.
- Ford Motor Company: is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand
- Tesla: Tesla designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services
Lastly, to have a successful career as a capital goods specialist, you must have some skill-sets which include excellent communication skills, result-driven, curious, courageous and confident, and ready to learn.