Magna Electro Castings new Product Development Engineer Salaries by 7 Employees (Updated 2024)

0 - 6 years exp.

₹1.5 Lakh - ₹4 Lakhs

Salary of majority employees

36% less than the average new Product Development Engineer Salary in Iron & Steel Companies for 0 - 6 years of experience

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Last Updated: 16 Mar 2023

Companies similar to Magna Electro Castings for new Product Development Engineer

Company name	Avg Annual Salary	Open Jobs
Bharat Forge new Product Development Engineer Salary 3 - 8 years exp. (9 salaries)	₹3.9 L/yr - ₹5.6 L/yr 83% more
Thermax Limited new Product Development Engineer Salary 0 - 5 years exp. (4 salaries)	₹6.3 L/yr - ₹10.6 L/yr 245% more
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NELCAST new Product Development Engineer Salary 9 - 14 years exp. (6 salaries)	₹4.5 L/yr - ₹6.1 L/yr 110% more
INDO-MIM new Product Development Engineer Salary 0 - 4 years exp. (73 salaries)	₹2.7 L/yr - ₹5.7 L/yr 57% more
L.G.Balakrishnan & Bros new Product Development Engineer Salary 0 - 8 years exp. (44 salaries)	₹1.7 L/yr - ₹4.7 L/yr 29% more

new Product Development Engineer salary at Magna Electro Castings ranges between ₹1.5 Lakh to ₹4 Lakhs per year for employees with less than 1 year of experience to 6 years. Salary estimates are based on 7 latest salaries received from various employees of Magna Electro Castings.

Experience wise Magna Electro Castings new Product Development Engineer salaries

Last Updated: 16 Mar 2023

Experience	Avg Annual Salary
Fresher (AmbitionBox Estimate)	₹1.5 L/yr - ₹1.5 L/yr
1 year (AmbitionBox Estimate)	₹1.5 L/yr - ₹1.9 L/yr
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2 years (AmbitionBox Estimate)	₹0.8 L/yr - ₹2.5 L/yr
3 years (AmbitionBox Estimate)	₹2.1 L/yr - ₹3.2 L/yr
4 years (AmbitionBox Estimate)	₹1 L/yr - ₹3 L/yr
5 years (AmbitionBox Estimate)	₹1.1 L/yr - ₹4 L/yr
6 years (AmbitionBox Estimate)	₹1.2 L/yr - ₹4 L/yr

View all

Similar Designation salaries in Magna Electro Castings

Product Development Engineer Salary

(5 salaries)

₹1.8 L/yr - ₹3.2 L/yr

Development Engineer Salary

(AmbitionBox Estimate)

₹2.5 L/yr - ₹3.2 L/yr

Production Engineer Salary

(11 salaries)

₹1.6 L/yr - ₹3.6 L/yr

Project Engineer Salary

(AmbitionBox Estimate)

₹2.7 L/yr - ₹3.5 L/yr

Assistant Engineer Salary

(AmbitionBox Estimate)

₹0.2 L/yr - ₹0.2 L/yr

Production Manager Salary

(5 salaries)

₹6 L/yr - ₹11 L/yr

Design Engineer Salary

(7 salaries)

₹3.15 L/yr - ₹4 L/yr

Mechanical Engineer Salary

(4 salaries)

₹1.5 L/yr - ₹4.2 L/yr

Software Engineer Salary

(AmbitionBox Estimate)

₹0.2 L/yr - ₹0.2 L/yr

Senior Engineer Salary

(20 salaries)

₹3.1 L/yr - ₹7.8 L/yr

Salary related reviews for Magna Electro Castings

2.0

Rated by 1 employees for salary & benefits

Senior Engineer in Coimbatore

Quality Assurance Department

4.0

• posted on 11 Nov 2021

4.0

for Salary and Benefits

Likes

Will get salary on time of every month. Covid precautions found satisfactory. Self learning opportunities more.

Dislikes

Very less promosions for long working people. Should identify skills required for the people and should promoted.

Assistant Manager Foundry Production in Coimbatore

Production, Manufacturing & Engineering Department

4.0

• posted on 13 Mar 2021

4.0

for Salary and Benefits

Likes

Good work environment, company policies are good, appraisal are fare, they give good salary and bonus every year

Dislikes

There is a lot pressure in work, always atten meeting in our working hours can't work in on the job issues, every day work more than 10 hours

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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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Magna Electro Castings new Product Development Engineer Salary FAQs

What is the salary of new Product Development Engineer at Magna Electro Castings?

new Product Development Engineer salary at Magna Electro Castings in India ranges between ₹1.5 Lakhs to ₹4.0 Lakhs for less than 1 year of experience to 6 years. According to our estimates it is 36% less than the average new Product Development Engineer Salary in India. Salary estimates are based on 7 latest salaries received from various employees of Magna Electro Castings India.

How does the salary of a new Product Development Engineer at Magna Electro Castings India compare with the average salary range for this job?

The average salary of a new Product Development Engineer at Magna Electro Castings is 36% less than the average salary of a new Product Development Engineer in India. To know exact salary insights, login to view.

Which similar companies are paying more than Magna Electro Castings to a new Product Development Engineer in India?

Thermax Limited new Product Development Engineer Salary - ₹6.3 Lakhs to ₹10.6 Lakhs per year
NELCAST new Product Development Engineer Salary - ₹4.5 Lakhs to ₹6.1 Lakhs per year
Bharat Forge new Product Development Engineer Salary - ₹3.9 Lakhs to ₹5.6 Lakhs per year
INDO-MIM new Product Development Engineer Salary - ₹2.7 Lakhs to ₹5.7 Lakhs per year
L.G.Balakrishnan & Bros new Product Development Engineer Salary - ₹1.7 Lakhs to ₹4.7 Lakhs per year

What is the estimated take home salary of a new Product Development Engineer at Magna Electro Castings in India?

The estimated take-home salary of a new Product Development Engineer at Magna Electro Castings ranges between ₹17,629 per month to ₹19,328 per month in India. The take-home salary calculation is based on the average Magna Electro Castings new Product Development Engineer salary in India which ranges between ₹1.5 Lakhs to ₹4.0 Lakhs per year for employees with less than 1 year of experience to 6 years. Check how did we calculate take home salary?

What is the notice period for new Product Development Engineer at Magna Electro Castings?

According to AmbitionBox, 67% of the Magna Electro Castings new Product Development Engineers reported a notice period of 1 Month, 33% reported a notice period of 2 Months.This is based on 3 responses on AmbitionBox in last 2 years.

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Magna Electro Castings new Product Development Engineer Salaries

Magna Electro Castings new Product Development Engineer salary in India ranges between ₹1.5 Lakh to ₹4 Lakhs with an average annual salary of ₹. Salary estimates are based on 7 Magna Electro Castings latest salaries received from various employees of Magna Electro Castings.

Magna Electro Castings new Product Development Engineer salaries in India

Companies similar to Magna Electro Castings for new Product Development Engineer

Latest annual salaries shared by Magna Electro Castings new Product Development Engineer

Experience wise Magna Electro Castings new Product Development Engineer salaries

Similar Designation salaries in Magna Electro Castings

Salary related reviews for Magna Electro Castings

Senior Engineer in Coimbatore

Assistant Manager Foundry Production in Coimbatore

Magna Electro Castings new Product Development Engineer Salary FAQs

Tell us how to improve this page.