Magna International new Product Development Engineer Salaries by 4 Employees

2 - 8 years exp.

₹2.8 Lakhs - ₹4.2 Lakhs

Low Confidence

Salary of majority employees

8% less than the average new Product Development Engineer Salary in Auto Components Companies for 2 - 8 years of experience

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Salaries in different departments

Research & Development new Product Development Engineer Salary 3 - 8 years exp. (3 salaries)	₹4 L/yr - ₹4.2 L/yr
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Production, Manufacturing & Engineering new Product Development Engineer Salary 2 years exp. (AmbitionBox Estimate)	₹2.5 L/yr - ₹3.1 L/yr

Last Updated: 24 Feb 2024

Companies similar to Magna International for new Product Development Engineer

Company name	Avg Annual Salary	Open Jobs
Continental Automotive Components new Product Development Engineer Salary 2 - 6 years exp. (5 salaries)	₹2.5 L/yr - ₹4.7 L/yr 13% less
Bridgestone new Product Development Engineer Salary 3 - 6 years exp. (4 salaries)	₹1.8 L/yr - ₹6.5 L/yr 16% more
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ANTOLIN new Product Development Engineer Salary 1 - 2 years exp. (4 salaries)	₹1.8 L/yr - ₹4 L/yr 13% less
DENSO new Product Development Engineer Salary 2 - 9 years exp. (4 salaries)	₹5 L/yr - ₹8 L/yr 74% more
Valeo new Product Development Engineer Salary 3 - 15 years exp. (4 salaries)	₹2.3 L/yr - ₹10.5 L/yr 85% more
Yazaki new Product Development Engineer Salary 3 - 6 years exp. (4 salaries)	₹2.1 L/yr - ₹5 L/yr At par
ZF Friedrichshafen new Product Development Engineer Salary 7 - 9 years exp. (3 salaries)	₹14 L/yr - ₹20 L/yr 326% more
Michelin new Product Development Engineer Salary 7 - 11 years exp. (3 salaries)	₹11.6 L/yr - ₹16.4 L/yr 262% more
Amara Raja Group new Product Development Engineer Salary 0 - 7 years exp. (3 salaries)	₹2.8 L/yr - ₹3.9 L/yr 7% less

new Product Development Engineer salary at Magna International ranges between ₹2.8 Lakhs to ₹4.2 Lakhs per year for employees with experience between 2 years to 8 years. Salary estimates are based on 4 latest salaries received from various employees of Magna International.

Experience wise Magna International new Product Development Engineer salaries

Last Updated: 24 Feb 2024

Experience	Avg Annual Salary
2 years (AmbitionBox Estimate)	₹2.9 L/yr - ₹3.7 L/yr
3 years (AmbitionBox Estimate)	₹3.1 L/yr - ₹3.9 L/yr
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4 years (AmbitionBox Estimate)	₹3.2 L/yr - ₹4.1 L/yr
5 years (AmbitionBox Estimate)	₹3.4 L/yr - ₹4.3 L/yr
6 years (AmbitionBox Estimate)	₹3.5 L/yr - ₹4.5 L/yr
7 years (AmbitionBox Estimate)	₹3.7 L/yr - ₹4.7 L/yr
8 years (AmbitionBox Estimate)	₹3.7 L/yr - ₹4.8 L/yr

View all

Similar Designation salaries in Magna International

Product Development Engineer Salary

(AmbitionBox Estimate)

₹5.4 L/yr - ₹6.9 L/yr

Development Engineer Salary

(AmbitionBox Estimate)

₹3.6 L/yr - ₹4.6 L/yr

Production Engineer Salary

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₹1.45 L/yr - ₹5.5 L/yr

Product Engineer Salary

(9 salaries)

₹3.6 L/yr - ₹12 L/yr

Senior Design Engineer Salary

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₹4.75 L/yr - ₹18 L/yr

Project Engineer Salary

(3 salaries)

₹4 L/yr - ₹4.7 L/yr

Senior Software Engineer Salary

(100 salaries)

₹7 L/yr - ₹26.76 L/yr

Assistant Engineer Salary

(18 salaries)

₹2 L/yr - ₹3.8 L/yr

Production Manager Salary

(4 salaries)

₹19 L/yr - ₹23 L/yr

Design Engineer Salary

(139 salaries)

₹2.4 L/yr - ₹12 L/yr

Salary related reviews for Magna International

2.3

Rated by 3 employees for salary & benefits

Design Engineer in Pune

Full Time

Research & Development Department

5.0

• posted on 18 Jun 2020

2.0

for Salary and Benefits

Likes

Till lockdown magna provided complete salary and support.

Skill development - Excellent

+3 more

Dislikes

Unfortunately I lost job in this corona crisis. They provided complete assistance to onrolll employees but not for all contract people. So all they lost there job.

Salary - Poor

Design Engineer in Om Chambers, Bhosari, Pune

Research & Development Department

1.0

• posted on 18 May 2022

1.0

for Salary and Benefits

Likes

Nothing. Just you get your salary on time.

Dislikes

No job security. No standards they follow. Zero authority they have on their work. it is same as working in a service industry. Huge team politics issue, one person controls everyone. If you are among his favourite people you get everything otherwise no matter how much you work you will get nothing. Most of people in Magna work on saturday also even though it is weekly off. Managers force you to work on weekends. If you want training then you have to invest your personal time that is on saturdays. Means you are wasting your personal time for company benefits.

Salary - Bad

+6 more

Quality Engineer in Talegaon Dabhade

Production, Manufacturing & Engineering Department

3.0

• posted on 02 Nov 2022

3.0

for Salary and Benefits

Likes

I like because its first opportunity to learn something its was my hope

Dislikes

My dislike reason is: First salary problem my job on 2 year contact base so no pay on date miss Overtime pay our contact hr alway stay to us all bsa employees first shift every wednesday of all week for formality 3to5 no bus required Second is not good behaviour of parmanent staff Our bsa hr and company staff say to some bsa employees including me you all come sunday for extra skill of learning about robot But we all sunday clean robot

Skill development - Bad

+4 more

Senior Engineer- Maintenance in Talegaon Dabhade

Full Time

Production, Manufacturing & Engineering Department

3.0

• posted on 10 Sep 2022

1.0

for Salary and Benefits

Likes

Work- Personal life can be balanced. Fixed duty hours. Supportive superiors. On time salary. Transportation and canteen facilities are free.

Skill development - Excellent

+2 more

Dislikes

Salary packages are not as per skills and experience. Very low salary packages as a mnc and also compair to other mnc. Salary structure is not good.

Salary - Bad

+1 more

Stamping Simulation Engineer (Process Engineer) in Pune

Full Time

Production, Manufacturing & Engineering Department

3.0

• posted on 30 Jan 2024

2.0

for Salary and Benefits

Likes

Learning curve was very good at magna, there is lot of opportunities to learn and improve your skill.

Skill development - Good

+3 more

Dislikes

Salary is very less competitive, I used to get less than market value I guess. Work is culture is not so good, observed partially, favorism and retaliation from the manager. Hard work is not appreciated and recognized.

Salary - Poor

+2 more

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Shifting from Bangalore to Hyderabad

I’m working in Bangalore for last 9 years. Currently I got 2 offers. 1. CTS - Bangalore (CTC - 22.7 LPA) 2. Deloitte - Hyderabad (CTC - 24.2 LPA) Is it good move to shift to Hyderabad for Deloitte ? Is it ok to ask the HR if my base location can be changed to Bangalore ? Please share your thoughts

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Magna International new Product Development Engineer Salary FAQs

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

The average salary of a new Product Development Engineer at Magna International in India typically ranges from ₹2.8 Lakhs to ₹4.2 Lakhs per year, depending on experience (from 2 years to 8 years).

The top 10% of new Product Development Engineer at Magna International earn more than ₹4.2 Lakhs per year, and the top 1% earn over ₹4.2 Lakhs per year. new Product Development Engineer Salaries at Magna International 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 4 Magna International employees in India.

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

The estimated take-home salary of a new Product Development Engineer at Magna International in India typically ranges from ₹27,544 to ₹28,945 per month. This is based on the average salary range of ₹2.8 Lakhs to ₹4.2 Lakhs per year for employees with experience ranging from 2 years to 8 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 4 salaries received from various employees of Magna International. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Magna International for new Product Development Engineer in India?

ZF Friedrichshafen	₹14.0 Lakhs to ₹20.0 Lakhs per year
Michelin	₹11.6 Lakhs to ₹16.4 Lakhs per year
Valeo	₹2.3 Lakhs to ₹10.5 Lakhs per year
DENSO	₹5.0 Lakhs to ₹8.0 Lakhs per year
Bridgestone	₹1.8 Lakhs to ₹6.5 Lakhs per year

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

What is the salary of a new Product Development Engineer in companies similar to Magna International in India?

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

Yazaki	₹2.1 Lakhs to ₹5.0 Lakhs per year
Amara Raja Group	₹2.8 Lakhs to ₹3.9 Lakhs per year
Continental Automotive Components	₹2.5 Lakhs to ₹4.7 Lakhs per year
ANTOLIN	₹1.8 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.

How the salary growth look like for a new Product Development Engineer at Magna International in India?

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

Experience	Average Salary Range
2 years	₹2.9 Lakhs to ₹3.7 Lakhs per year
3 years	₹3.1 Lakhs to ₹3.9 Lakhs per year
4 years	₹3.2 Lakhs to ₹4.1 Lakhs per year
5 years	₹3.4 Lakhs to ₹4.3 Lakhs per year

and so on.

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Magna International new Product Development Engineer Salaries

Magna International new Product Development Engineer salary in India ranges between ₹2.8 Lakhs to ₹4.2 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 Magna International latest salaries received from various employees of Magna International.