Best Paying Jobs In Industrial Machinery Components (2024)
AD
Summary:
Looking for a high-paying trade career? Consider the industrial machinery and components industry. This sector employs a large number of skilled workers who earn well above the average wage due to the high demand for their services, the extensive training and experience required, and the shortage of willing workers. The machinery components sector provides many opportunities for skilled workers to develop their careers, with the top salary jobs being senior mechanical engineers, research and development engineers, instrumentation engineers, industrial designers, automation engineers, powertrain engineers, and purchasing managers. The industry is diverse and provides parts and equipment to many different sectors, including aerospace, automotive, chemical, construction, and energy.
The industrial machinery and components industry is an indispensable part of our economy that is responsible for producing a wide range of goods and services. The sector employs a considerable number of skilled workers who earn well above the average wage.
So why do industrial machinery and components workers have such impressive salaries? Firstly, the industry is vital for the proper functioning of society and the economy. This means there is always a high demand for skilled labor. Secondly, many of the roles in this sector require extensive training and experience, making them highly skilled positions. And thirdly, only some people want to do these jobs, making the willing workforce limited, which in turn makes the high salaries justifiable.
In this article, we’ll explore ten of the highest-paying careers in industrial machinery components.
Get Competing Personal Loan Offers In Minutes
Compare rates from multiple vetted lenders. Discover your lowest eligible rate.
It's quick, free and won’t hurt your credit score
What are industrial machinery components?
Industrial machinery components are parts or equipment used in the manufacturing or production of goods and services.
Examples of industrial machinery components include pumps, compressors, valves, turbines, bearings, gears, and motors. They can be used in various industries, from aerospace and automotive to construction and energy.
These components can range from small and simple to large and complex, depending on the industry and application. They may be designed to operate manually or automatically and can be made from a variety of materials, including metals, plastics, and ceramics.
How does the industrial machinery components industry compare as a career path?
The industrial machinery and components industry can be an excellent career choice for those up to the challenge. This industry offers various opportunities for skilled workers to develop their careers, whether they are interested in engineering, design, manufacturing, or operations.
One of the significant advantages of working in this industry is that it offers high-paying careers. As we mentioned earlier, many of the positions in this sector require extensive training and experience, making them highly skilled roles that demand higher salaries.
Another advantage is the variety of roles and industries that this sector serves, as the industrial machinery and components industry provides parts and equipment to a wide variety of sectors.
Additionally, there is a high demand for workers in this sector, meaning that job security is generally good. With new technological advancements and the growing demand for sustainable energy and environmentally friendly practices, the industry will have many opportunities for workers to grow their skills and progress in their careers.
Now that you’re familiar with the ins and outs of the industry let’s take a look at some of the highest-paying jobs in the machinery components business. Overall, higher-level engineers tend to make the highest salaries.
The top 10 highest-paying jobs in industrial machinery components
Senior mechanical engineer
Average salary: $72,056
A senior mechanical engineer can make over $130,000 per year at the highest levels. They design and develop mechanical systems and devices used in various industries. Senior mechanical engineers use their expertise in physics, materials science, and mechanics to create prototypes, test the performance of devices, and make improvements to designs. They also supervise a team of mechanical engineers and technicians, review their work, and ensure that projects are completed on time and within budget.
Research and development engineers
Average salary: $88,478
Research and development (R&D) engineers can earn a median salary of $100,169 per year. R&D engineers create and improve products, processes, and technologies. They use their expertise in science, engineering, and technology to conduct research, analyze data, and develop new products or improve existing ones. Work for R&D engineers is available in various industries — including pharmaceuticals, electronics, and manufacturing — in which they collaborate with other engineers, scientists, and researchers to achieve their goals.
Instrumentation engineer
Average salary: $88,783
An instrumentation engineer can earn a median salary of $92,464 a year. They develop instrumentation and control systems used in various industries. Instrumentation engineers use their expertise in electrical and electronics engineering to design systems that measure, control, and monitor different processes and equipment. Demand for instrumentation engineers exists in industries such as oil and gas, aerospace, and manufacturing.
Industrial designer
Average salary: $63,384
Industrial designers can earn $92,000 per year at the top levels and are responsible for creating and developing designs for products used in various industries. They use their knowledge of aesthetics, ergonomics, and manufacturing processes to create prototypes, test and evaluate the performance of products, and make improvements to designs.
Automation engineer
Average salary: $78,200
An automation engineer can make as much as over $120,000 per year. An automation engineer designs and implements systems that automate manufacturing processes. They use their knowledge of electrical and mechanical engineering to create solutions that increase productivity, improve product quality, and reduce costs. Automation engineers work in the automotive, aerospace, and electronics sectors, among others, and they collaborate with other engineers, technicians, and operators to design and test automation systems and ensure they function correctly.
Powertrain engineer
Average salary: $94,000
Powertrain engineers make an average of $94,000 per year, with top wages around $111,000. A powertrain engineer is responsible for designing and developing powertrain systems for vehicles, such as engines, transmissions, and drivetrains. Powertrain engineers work in the automotive industry and collaborate with other engineers, designers, and manufacturers to ensure that systems are integrated into vehicles seamlessly.
Purchasing manager
Average salary: $98,118
Purchasing managers can make over $116,000 a year. A purchasing manager is responsible for managing and overseeing the procurement of goods and services for a company or organization. They are responsible for ensuring that products and services purchased meet the needs and requirements of the company, that they are of high quality, and that they are acquired at the most competitive prices possible.
Locomotive engineers
Average salary: $55,268
Locomotive engineers can make over $65,000 per year. They operate trains, including locomotives, and other equipment, such as brakes and signals. Locomotive engineers use their knowledge of rail systems, mechanics, and electronics to control the speed, direction, and braking of trains. They work in the transportation industry and may operate trains for passenger or freight transport.
Mechanical engineer
Average salary: $75,352
Mechanical engineers can earn over $86,000 a year. Mechanical engineers design, develop, and test mechanical devices, machines, and systems. They apply knowledge of physics, materials science, and mathematics to create solutions that meet specific needs, whether for a consumer product, a manufacturing process, or a complex system like a power plant. These engineers work in a variety of industries, including automotive, aerospace, energy, and manufacturing.
Plant manager
Average salary: $113,843
Plant managers can earn a salary of over $132,000 at the top levels. They are responsible for overseeing the operations of a manufacturing plant, warehouse, or other production facility. Plant managers ensure that the plant runs efficiently, safely, and in compliance with regulations and company policies. They work closely with other managers, engineers, and staff to ensure that the plant is meeting production targets, delivering high-quality products, and maintaining profitability.
FAQ
What is the highest-paying industrial job?
The highest-paying industrial job will depend on various factors, such as location, industry, and level of experience. That said, engineers tend to have the highest salaries. Three of the highest-paying industrial jobs include petroleum engineers, aerospace engineers, and chemical engineers.
Which field in mechanical engineering pays the most?
The highest-paying field in mechanical engineering is in the oil and gas industry. Mechanical engineers working on extracting and processing oil earn an average annual salary of around $140,000.
What is the best job in manufacturing?
The best-paying position in manufacturing is a supply chain manager. These managers work to optimize the supply chain process and ensure that products are delivered on time and within budget. They can earn an average annual salary of around $95,000.
What are industrial machinery and components?
Industrial machinery and components are machines, equipment, and tools used in various industries for manufacturing, production, processing, and assembly of goods. They include heavy machinery used in construction, mining, and agriculture, as well as specialized machines used in aerospace, automotive, and electronics manufacturing. The industry is critical to the global economy, providing essential equipment and tools necessary for the production of goods and services.
Which field has the highest salary?
Some fields that tend to have high salaries include medicine, law, engineering (particularly in the petroleum, chemical, and computer hardware industries), and executive management positions in business and finance. (It’s important to note that salary should not be the only factor in deciding on a career path, as job satisfaction, work-life balance, and personal interests should also be taken into consideration.)
What is the most stable industry to work in?
Some industries that have historically held up during times of economic uncertainty include health care, education, government, utilities, and essential consumer goods, such as food and household supplies. These industries tend to provide products and services that are necessary for everyday life, which can make them less vulnerable to economic downturns. It’s worth noting that no industry is completely immune to changes and disruptions, so it’s always a good idea to stay up to date with industry trends.
Key takeaways
- The industrial machinery and components industry provides high-paying jobs due to the high demand for skilled labor and the extensive training and experience required for many positions.
- This sector offers a variety of roles and serves various industries, providing multiple opportunities for career development and growth.
- The top ten highest-paying jobs in industrial machinery and components are senior mechanical engineer, research and development engineer, instrumentation engineer, industrial designer, automation engineer, powertrain engineer, purchasing manager, locomotive engineer, mechanical engineer, and plant manager.
AD
Allan Du is a personal finance writer passionate about helping people take control of their finances. Allan strives to present readers with the right knowledge and tools, so they can make informed decisions about their money and build wealth. When he is not writing about finance, Allan enjoys pursuing his other interests, including powerlifting, kickboxing, and investing. He is an active follower of economic and political trends, always keeping watch on the latest developments that could impact the financial world.
Share this post: