Banco Products Mechanical Engineer Salaries by 8 Employees (Updated 2024)

4 - 9 years exp.

₹1.5 Lakh - ₹4.1 Lakhs

Salary of majority employees

48% less than the average Mechanical Engineer Salary in Auto Components Companies for 4 - 9 years of experience

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Last Updated: 4 Dec 2024

Companies similar to Banco Products for Mechanical Engineer

Company name	Avg Annual Salary	Open Jobs
Sharda Motor Industries Mechanical Engineer Salary 1 - 7 years exp. (32 salaries)	₹1.6 L/yr - ₹5.5 L/yr 46% more
Setco Automotive Mechanical Engineer Salary 3 - 5 years exp. (3 salaries)	₹4 L/yr - ₹5 L/yr 87% more
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UNO Minda Mechanical Engineer Salary 0 - 8 years exp. (20 salaries)	₹2.1 L/yr - ₹7.7 L/yr 103% more
TVS Sundram Fasteners Mechanical Engineer Salary 1 - 5 years exp. (52 salaries)	₹1 L/yr - ₹3.6 L/yr 16% less
Rane (Madras) Mechanical Engineer Salary 1 - 4 years exp. (5 salaries)	₹1.1 L/yr - ₹3 L/yr 5% less
Bharat Forge Mechanical Engineer Salary 1 - 13 years exp. (76 salaries)	₹1.5 L/yr - ₹9 L/yr 84% more
Endurance Technologies Mechanical Engineer Salary 1 - 7 years exp. (26 salaries)	₹1.2 L/yr - ₹3.9 L/yr 4% more
ZF Commercial Vehicle Control Systems Mechanical Engineer Salary 0 - 5 years exp. (20 salaries)	₹1.8 L/yr - ₹4.5 L/yr 30% more
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Subros Mechanical Engineer Salary 1 - 10 years exp. (117 salaries)	₹1.2 L/yr - ₹7 L/yr 27% more
JBM Group Mechanical Engineer Salary 0 - 6 years exp. (107 salaries)	₹1.2 L/yr - ₹6 L/yr 9% more
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Hi Tech Gears Mechanical Engineer Salary 1 - 9 years exp. (29 salaries)	₹1.2 L/yr - ₹5.5 L/yr 57% more
Shivam Autotech Mechanical Engineer Salary 1 - 10 years exp. (28 salaries)	₹1.8 L/yr - ₹4.2 L/yr 26% more
Alicon Castalloy Mechanical Engineer Salary 2 - 13 years exp. (21 salaries)	₹2.3 L/yr - ₹5.5 L/yr 68% more
TRF Mechanical Engineer Salary 7 - 13 years exp. (20 salaries)	₹2.3 L/yr - ₹7 L/yr 107% more
UCAL Fuel Systems Mechanical Engineer Salary 1 - 5 years exp. (16 salaries)	₹1.5 L/yr - ₹4.1 L/yr 3% more
MARK EXHAUST SYSTEMS Mechanical Engineer Salary 1 - 11 years exp. (15 salaries)	₹1.8 L/yr - ₹6.2 L/yr 33% more
Fiem Industries Mechanical Engineer Salary 0 - 8 years exp. (14 salaries)	₹2 L/yr - ₹4.2 L/yr 18% more
Talbros Mechanical Engineer Salary 0 - 4 years exp. (13 salaries)	₹1.7 L/yr - ₹3.2 L/yr 5% less
Magna International Mechanical Engineer Salary 2 - 10 years exp. (9 salaries)	₹1.5 L/yr - ₹5.8 L/yr 34% more

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Mechanical Engineer salary at Banco Products ranges between ₹1.5 Lakh to ₹4.1 Lakhs per year for employees with experience between 4 years to 9 years. Salary estimates are based on 8 latest salaries received from various employees of Banco Products.

Experience wise Banco Products Mechanical Engineer salaries

Last Updated: 4 Dec 2024

Experience	Avg Annual Salary
4 years (3 salaries)	₹1.5 L/yr - ₹3.1 L/yr
5 years (AmbitionBox Estimate)	₹1.9 L/yr - ₹4.1 L/yr
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6 years (AmbitionBox Estimate)	₹2 L/yr - ₹4.1 L/yr
7 years (AmbitionBox Estimate)	₹2.2 L/yr - ₹2.8 L/yr
8 years (AmbitionBox Estimate)	₹2.2 L/yr - ₹2.8 L/yr
9 years (AmbitionBox Estimate)	₹1.5 L/yr - ₹4.3 L/yr

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Similar Designation salaries in Banco Products

Electrical Engineer Salary

(3 salaries)

₹2.5 L/yr - ₹6 L/yr

Senior Engineer Salary

(31 salaries)

₹3.5 L/yr - ₹8.1 L/yr

Shift Engineer Salary

(3 salaries)

₹2.2 L/yr - ₹4 L/yr

Executive Engineer Salary

(7 salaries)

₹4.55 L/yr - ₹7 L/yr

Junior Engineer Salary

(5 salaries)

₹1.1 L/yr - ₹5.5 L/yr

Maintenance Engineer Salary

(5 salaries)

₹2.4 L/yr - ₹4.1 L/yr

Assistant Engineer Salary

(AmbitionBox Estimate)

₹4.5 L/yr - ₹5.8 L/yr

Production Engineer Salary

(89 salaries)

₹1.5 L/yr - ₹7.34 L/yr

Technician Salary

(4 salaries)

₹1.6 L/yr - ₹3.5 L/yr

Mechanical Maintenance Engineer Salary

(AmbitionBox Estimate)

₹3.8 L/yr - ₹4.8 L/yr

Salary related reviews for Banco Products

1.0

Rated by 1 employees for salary & benefits

Maintenance Engineer in Vadodara

Full Time

Production, Manufacturing & Engineering Department

3.0

• posted on 27 Jul 2020

1.0

for Salary and Benefits

Likes

most irritated part was job security,salary and culture is bit abusive . Dept Seniors are cooperative and very supportive specially HOD has caring nature and good attitude towards engineers. Pro and cons are detailed - Pros- vast opportunity for learners as there are plenty of good machines, equipment and technology. Work-life balance, canteen facility, Cons- job security and growth are major issue in company, workmans are abusive, high work load, no team work. No transport facility.

Middle Manager in Vadodara

Full Time

Research & Development Department

1.0

• posted on 12 Aug 2024

2.0

for Salary and Benefits

Likes

Nothing, it's very much akin to working under a marwadi. They pay you some salary in return they think that they own your entire personal life.

Dislikes

...to do manpower reduction every year (it has nothing to do with your performance. If your salary falls in their cutoff limit then you're gone), and does it so.

Regional Manager in Gurgaon / Gurugram

Part Time

Marketing & Communication Department

4.0

• posted on 21 Sep 2023

4.0

for Salary and Benefits

Likes

It is the oldest company and their USP is , to change according to market conditions and the results grabbed the major OEMs business by way of reforming internally.

Dislikes

Pay Less and people frequently jump to other company .

Purchase/Vendor Development Manager in Vadodara

Procurement & Supply Chain Department

3.0

• posted on 16 Apr 2021

1.0

for Salary and Benefits

Likes

On time Salary & Good market reputation in Automotive industry.

Dislikes

Here, there is no system at all. All the things is on paper only. Even HR is also involved in politics. Worse Management & No work life balance.

Accounts Officer

Finance & Accounting Department

4.0

• posted on 31 Jan 2019

4.0

for Salary and Benefits

Likes

Good organisation happy to work with good and experienced people very much helping nature and chance to learn much knowledge... Finally happy to work with Banco Products

Dislikes

Compensation is decent, but growth is slow

see more salary related reviews

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Salary Discussions, Hike & Promotions

a technical project manager

Deadend

Hi, I'm here to share a part of my journey from the past 12 years in my career, I started from a package of 3.6LPA in 2013 at iGate and due to a few bad decisions on my career and worthless advices from people who are always pessimistic about the industry, I switched two companies and landed in a start-up with 2.4LPA. I worked hard nearly 8-16hrs a day single handed researched, built and managed an entire vertical of a project for 8 years. When the company didn't value my contribution and thought I was too young to become a manager, I had a package of 6LPA and Senior developer in designation. I switched for obvious reasons to a TL role for 12LPA and now at the same company I'm a TPM on the basis of my contribution with 48LPA as a fixed component. I feel outclassed in terms of having a fancy CV with certifications, I feel like CTC has hit a peak with 48LPA being fixed and nearly 40% in Variable. Most companies are hesitant to hire me because of this. What should be my next move?

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Banco Products Mechanical Engineer Salary FAQs

What is the salary of Mechanical Engineer at Banco Products?

Mechanical Engineer salary at Banco Products in India ranges between ₹1.5 Lakhs to ₹4.1 Lakhs for experience between 4 years to 9 years. According to our estimates it is 48% less than the average Mechanical Engineer Salary in India. Salary estimates are based on 8 latest salaries received from various employees of Banco Products India.

How does the salary of a Mechanical Engineer at Banco Products India compare with the average salary range for this job?

The average salary of a Mechanical Engineer at Banco Products is 48% less than the average salary of a Mechanical Engineer in India. To know exact salary insights, login to view.

Which similar companies are paying more than Banco Products to a Mechanical Engineer in India?

TRF Mechanical Engineer Salary - ₹2.3 Lakhs to ₹7.0 Lakhs per year
UNO Minda Mechanical Engineer Salary - ₹2.1 Lakhs to ₹7.7 Lakhs per year
Sundaram Auto Components Mechanical Engineer Salary - ₹3.2 Lakhs to ₹5.5 Lakhs per year
Setco Automotive Mechanical Engineer Salary - ₹4.0 Lakhs to ₹5.0 Lakhs per year
Bharat Forge Mechanical Engineer Salary - ₹1.5 Lakhs to ₹9.0 Lakhs per year

What is the salary of a Mechanical Engineer in companies similar to Banco Products in India?

Alicon Castalloy Mechanical Engineer Salary - ₹2.3 Lakhs to ₹5.5 Lakhs per year
Hi Tech Gears Mechanical Engineer Salary - ₹1.2 Lakhs to ₹5.5 Lakhs per year
Goodyear Mechanical Engineer Salary - ₹2.3 Lakhs to ₹4.1 Lakhs per year
Automotive Stampings and Assemblies Mechanical Engineer Salary - ₹3.3 Lakhs to ₹5.0 Lakhs per year
Sharda Motor Industries Mechanical Engineer Salary - ₹1.6 Lakhs to ₹5.5 Lakhs per year

What is the estimated take home salary of a Mechanical Engineer at Banco Products in India?

The estimated take-home salary of a Mechanical Engineer at Banco Products ranges between ₹16,677 per month to ₹18,390 per month in India. The take-home salary calculation is based on the average Banco Products Mechanical Engineer salary in India which ranges between ₹1.5 Lakhs to ₹4.1 Lakhs per year for employees with experience between 4 years to 9 years. Check how did we calculate take home salary?

What is the notice period for Mechanical Engineer at Banco Products?

According to AmbitionBox, 60% of the Banco Products Mechanical Engineers reported a notice period of 1 Month, 30% reported a notice period of 15 days or less and the remaining reported other notice period durations. This is based on 10 responses on AmbitionBox in last 2 years.

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Banco Products Mechanical Engineer Salaries

Banco Products Mechanical Engineer salary in India ranges between ₹1.5 Lakh to ₹4.1 Lakhs with an average annual salary of ₹. Salary estimates are based on 8 Banco Products latest salaries received from various employees of Banco Products.