Lakshmi Machine Works Product Engineer Salaries by 5 Employees

1 - 3 years exp.

₹3 Lakhs - ₹7.4 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

55% less than the average Product Engineer Salary in Industrial Machinery Companies for 1 - 3 years of experience

Interested in this particular role? 1 job opening

Salaries in different departments

Production, Manufacturing & Engineering Product Engineer Salary 3 years exp. (AmbitionBox Estimate)	₹6.7 L/yr - ₹8.1 L/yr
Project & Program Management Product Engineer Salary 2 years exp. (AmbitionBox Estimate)	₹2.7 L/yr - ₹3.3 L/yr
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Research & Development Product Engineer Salary 1 year exp. (AmbitionBox Estimate)	₹3.7 L/yr - ₹4.5 L/yr

Last Updated: 16 Jun 2024

Companies similar to Lakshmi Machine Works for Product Engineer

Company name	Avg Annual Salary	Open Jobs
Cummins Product Engineer Salary 0 - 9 years exp. (128 salaries)	₹3.6 L/yr - ₹15 L/yr 121% more	4 job openings
TechnipFMC Product Engineer Salary 2 - 12 years exp. (31 salaries)	₹6.2 L/yr - ₹13 L/yr 146% more
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Timken Product Engineer Salary 2 - 8 years exp. (17 salaries)	₹5.9 L/yr - ₹9 L/yr 81% more
Flowserve Product Engineer Salary 0 - 11 years exp. (4 salaries)	₹4.9 L/yr - ₹20 L/yr 216% more
ABB Product Engineer Salary 4 - 8 years exp. (3 salaries)	₹12 L/yr - ₹24 L/yr 386% more

Product Engineer salary at Lakshmi Machine Works ranges between ₹3 Lakhs to ₹7.4 Lakhs per year for employees with experience between 1 year to 3 years. Salary estimates are based on 5 latest salaries received from various employees of Lakshmi Machine Works.

Experience wise Lakshmi Machine Works Product Engineer salaries

Last Updated: 16 Jun 2024

Experience	Avg Annual Salary
1 year (AmbitionBox Estimate)	₹1.2 L/yr - ₹4.1 L/yr
2 years (AmbitionBox Estimate)	₹3 L/yr - ₹3.8 L/yr
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3 years (AmbitionBox Estimate)	₹3 L/yr - ₹7.4 L/yr

Similar Designation salaries in Lakshmi Machine Works

Project Engineer Salary

(3 salaries)

₹5 L/yr - ₹5.5 L/yr

Lead Engineer Salary

(AmbitionBox Estimate)

₹2.9 L/yr - ₹3.7 L/yr

Senior Engineer Salary

(241 salaries)

₹4.7 L/yr - ₹11 L/yr

Software Engineer Salary

(3 salaries)

₹3 L/yr - ₹5 L/yr

Lead Software Engineer Salary

(AmbitionBox Estimate)

₹9.7 L/yr - ₹12.4 L/yr

Senior Software Engineer Salary

(4 salaries)

₹7.2 L/yr - ₹8.7 L/yr

Team Lead Salary

(AmbitionBox Estimate)

₹5 L/yr - ₹6.4 L/yr

Technical Lead Salary

(4 salaries)

₹3 L/yr - ₹4.05 L/yr

Senior Associate Salary

(AmbitionBox Estimate)

₹4.7 L/yr - ₹6 L/yr

Associate Consultant Salary

(AmbitionBox Estimate)

₹4.5 L/yr - ₹5.8 L/yr

Top skills at Lakshmi Machine Works for Product Engineer

Mechatronics Cost Reduction Procurement Simulink SCADA Microcontroller Product Engineering Accessories ISO Product Quality Kaizen Schematic Resource management HMI Control System

Salary related reviews for Lakshmi Machine Works

2.0

Rated by 1 employees for salary & benefits

Senior Engineer in Pune

Customer Service Department Department

4.0

• posted on 21 Dec 2019

3.0

for Salary and Benefits

Likes

Colleagues here are helpful and good to work with, you can learn a lot and gain vital experience. Company has good credit and one of the prominent names in the industry.

Skill development - Good

+1 more

Dislikes

Growth is slow, compensation and increments are also average. Managers don’t value suggestions, laid back attitude.

Promotions - Poor

Technical Sales Engineer in Pune

Full Time

Sales & Business Development Department

2.0

• posted on 06 Oct 2023

4.0

for Salary and Benefits

Likes

For sales and service traveling expenses are really good. New joiners gets attractive packages.

Salary - Good

+3 more

Dislikes

No value for old employees. Less appraisal. Salary of loyal employees will be very less compared to new joiners.

Skill development - Poor

+2 more

Purchase Engineer in Coimbatore

Full Time

Procurement & Supply Chain Department

1.0

• posted on 12 Sep 2023

3.0

for Salary and Benefits

Likes

No positives

Promotions - Good

Dislikes

...agers frequently bothering even during medical leave due to system shortcomings. High attrition rates plague SCM, exacerbated by attractive salary offers that ultimately lead to rapid resignations due to this culture less working environment. Prospective employees are requested to thoroughly investigate before joining or don't consider this organization.

Skill development - Bad

+3 more

System Incharge in Coimbatore

Full Time

Engineering - Software & QA Department

3.0

• posted on 30 Dec 2022

2.0

for Salary and Benefits

Likes

Ya best company to work but the one below management is very very poor. Can learn lot of things and can take the product owner ship but work life balance is very worst in the present management. And need to work only for one person in the company not for the betterment of company growth. And work life balance is very very very poor.

Skill development - Good

Dislikes

Salary, work life balance and very worst culture

Salary - Poor

+4 more

Engineer in Coimbatore

Full Time

Production, Manufacturing & Engineering Department

4.0

• posted on 12 Feb 2023

4.0

for Salary and Benefits

Likes

Salary and Other supports by the management are Highlights.

Salary - Good

+1 more

Dislikes

Employees will show every day that its a naidu concern. They don't worry about the communication. How worst is they talk in telegu in a meeting , even team things inside the team.

Skill development - Poor

+3 more

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Salary Discussions, Hike & Promotions

My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

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Lakshmi Machine Works Product Engineer Salary FAQs

What is the salary of Product Engineer at Lakshmi Machine Works ?

The average salary of a Product Engineer at Lakshmi Machine Works in India typically ranges from ₹3.0 Lakhs to ₹7.4 Lakhs per year, depending on experience (from 1 year to 3 years).

The top 10% of Product Engineer at Lakshmi Machine Works earn more than ₹7.4 Lakhs per year, and the top 1% earn over ₹7.4 Lakhs per year. Product Engineer Salaries at Lakshmi Machine Works can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 5 Lakshmi Machine Works employees in India.

What is the estimated take home salary of a Product Engineer at Lakshmi Machine Works in India?

The estimated take-home salary of a Product Engineer at Lakshmi Machine Works in India typically ranges from ₹28,075 to ₹29,468 per month. This is based on the average salary range of ₹3.0 Lakhs to ₹7.4 Lakhs per year for employees with experience ranging from 1 year to 3 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 5 salaries received from various employees of Lakshmi Machine Works. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Product Engineer at Lakshmi Machine Works ?

To be a Product Engineer at Lakshmi Machine Works in india, the key skills required include:

- Mechatronics
- Cost Reduction
- Procurement
- Simulink
- SCADA

These skills are highly valued at Lakshmi Machine Works and are crucial for successful performance in a Software Engineering role.

Which companies offer higher salaries than Lakshmi Machine Works for Product Engineer in India?

ABB	₹12.0 Lakhs to ₹24.0 Lakhs per year
Flowserve	₹4.9 Lakhs to ₹20.0 Lakhs per year
TechnipFMC	₹6.2 Lakhs to ₹13.0 Lakhs per year
Cummins	₹3.6 Lakhs to ₹15.0 Lakhs per year
Timken	₹5.9 Lakhs to ₹9.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Lakshmi Machine Works, depending on the role and experience level.

How the salary growth look like for a Product Engineer at Lakshmi Machine Works in India?

The salary growth for a Product Engineer at Lakshmi Machine Works depends on factors such as experience, performance, and promotions. On average, a Product Engineer can expect the following growth trajectory at Lakshmi Machine Works:

Experience	Average Salary Range
1 year	₹1.2 Lakhs to ₹4.1 Lakhs per year
2 years	₹3.0 Lakhs to ₹3.8 Lakhs per year
3 years	₹3.0 Lakhs to ₹7.4 Lakhs per year

and so on.

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Lakshmi Machine Works Product Engineer Salaries

Lakshmi Machine Works Product Engineer salary in India ranges between ₹3 Lakhs to ₹7.4 Lakhs with an average annual salary of ₹. Salary estimates are based on 5 Lakshmi Machine Works latest salaries received from various employees of Lakshmi Machine Works.