Magna Electro Castings new Product Development Engineer salaries in India

The average salary of a new Product Development Engineer at Magna Electro Castings in India typically ranges from ₹2.1 Lakhs to ₹4.0 Lakhs per year, depending on experience (from 2 years to 6 years).

The top 10% of new Product Development Engineer at Magna Electro Castings earn more than ₹4.0 Lakhs per year, and the top 1% earn over ₹4.0 Lakhs per year. new Product Development Engineer Salaries at Magna Electro Castings 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 6 Magna Electro Castings employees in India.

The estimated take-home salary of a new Product Development Engineer at Magna Electro Castings in India typically ranges from ₹18,224 to ₹19,914 per month. This is based on the average salary range of ₹2.1 Lakhs to ₹4.0 Lakhs per year for employees with experience ranging from 2 years to 6 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 6 salaries received from various employees of Magna Electro Castings. Check how we calculate in-hand salary with our in-hand salary calculator.

NELCAST	₹4.5 Lakhs to ₹6.1 Lakhs per year
INDO-MIM	₹2.7 Lakhs to ₹5.5 Lakhs per year
JBM Group	₹1.8 Lakhs to ₹5.7 Lakhs per year
L.G.Balakrishnan & Bros	₹1.8 Lakhs to ₹5.0 Lakhs per year

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

The salary of a new Product Development Engineer at companies similar to Magna Electro Castings in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Wadhokar

₹1.5 Lakhs to ₹4.0 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

The salary growth for a new Product Development Engineer at Magna Electro Castings depends on factors such as experience, performance, and promotions. On average, a new Product Development Engineer can expect the following growth trajectory at Magna Electro Castings:

Experience	Average Salary Range
2 years	₹1.0 Lakhs to ₹2.5 Lakhs per year
3 years	₹2.1 Lakhs to ₹3.2 Lakhs per year
4 years	₹1.0 Lakhs to ₹3.0 Lakhs per year
5 years	₹1.1 Lakhs to ₹4.0 Lakhs per year

and so on.