Magna International Product Engineer Salaries by 8 Employees (Updated 2024)

0 - 6 years exp.

₹3.6 Lakhs - ₹10.5 Lakhs

Low Confidence

Salary of majority employees

9% less than the average Product Engineer Salary in Auto Components Companies for 0 - 6 years of experience

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Salaries in different departments

Production, Manufacturing & Engineering Product Engineer Salary 0 - 1 year exp. (4 salaries)	₹3.6 L/yr - ₹8 L/yr
Product Management Product Engineer Salary 1 - 6 years exp. (AmbitionBox Estimate)	₹5 L/yr - ₹10.5 L/yr
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Research & Development Product Engineer Salary 2 - 3 years exp. (AmbitionBox Estimate)	₹5.6 L/yr - ₹9.2 L/yr

Last Updated: 5 Nov 2024

Companies similar to Magna International for Product Engineer

Company name	Avg Annual Salary	Open Jobs
Tata Motors Product Engineer Salary Fresher (5 salaries)	₹2.9 L/yr - ₹4 L/yr 56% less
Mahindra & Mahindra Product Engineer Salary 2 - 5 years exp. (3 salaries)	₹6.3 L/yr - ₹11 L/yr 25% more
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Aptiv Product Engineer Salary 1 - 6 years exp. (47 salaries)	₹3.1 L/yr - ₹9.5 L/yr 5% less	2 job openings
Lear Corporation Product Engineer Salary 1 - 7 years exp. (27 salaries)	₹4.5 L/yr - ₹11.4 L/yr 3% more
Nexteer Automotive Product Engineer Salary 1 - 9 years exp. (7 salaries)	₹4 L/yr - ₹7.6 L/yr 28% less
Faurecia Product Engineer Salary 10 - 12 years exp. (5 salaries)	₹8 L/yr - ₹9.4 L/yr 14% more	1 job opening
Michelin Product Engineer Salary 0 - 4 years exp. (3 salaries)	₹4.3 L/yr - ₹8 L/yr 12% less
Bosch Product Engineer Salary 5 - 6 years exp. (3 salaries)	₹4.2 L/yr - ₹7.2 L/yr 15% less

Product Engineer salary at Magna International ranges between ₹3.6 Lakhs to ₹10.5 Lakhs per year for employees with less than 1 year of experience to 6 years. Salary estimates are based on 8 latest salaries received from various employees of Magna International.

Experience wise Magna International Product Engineer salaries

Last Updated: 5 Nov 2024

Experience	Avg Annual Salary
Fresher (AmbitionBox Estimate)	₹3.6 L/yr - ₹9.6 L/yr
1 year (4 salaries)	₹4 L/yr - ₹8 L/yr
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2 years (AmbitionBox Estimate)	₹2.7 L/yr - ₹8 L/yr
3 years (AmbitionBox Estimate)	₹3 L/yr - ₹9.2 L/yr
4 years (AmbitionBox Estimate)	₹7.5 L/yr - ₹9.6 L/yr
5 years (AmbitionBox Estimate)	₹8.1 L/yr - ₹10.4 L/yr
6 years (AmbitionBox Estimate)	₹3.9 L/yr - ₹10.5 L/yr

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Similar Designation salaries in Magna International

Project Engineer Salary

(3 salaries)

₹4 L/yr - ₹4.7 L/yr

Lead Engineer Salary

(74 salaries)

₹7.8 L/yr - ₹23 L/yr

Senior Engineer Salary

(88 salaries)

₹4.2 L/yr - ₹14.1 L/yr

System Engineer Salary

(19 salaries)

₹5.13 L/yr - ₹20.44 L/yr

Software Engineer Salary

(93 salaries)

₹4.2 L/yr - ₹13.54 L/yr

Lead Software Engineer Salary

(AmbitionBox Estimate)

₹15.3 L/yr - ₹19.5 L/yr

Senior Software Engineer Salary

(89 salaries)

₹7 L/yr - ₹24.3 L/yr

Team Lead Salary

(38 salaries)

₹2.2 L/yr - ₹10.76 L/yr

Technical Lead Salary

(48 salaries)

₹14 L/yr - ₹38 L/yr

Senior Associate Salary

(AmbitionBox Estimate)

₹22.5 L/yr - ₹28.7 L/yr

Top skills at Magna International for Product Engineer

Bom Manufacturing Engineering Communication Skills Excel 8D CAD RFQ CAD CAM Design MS Office Powerpoint Improvement Activities

Salary related reviews for Magna International

1.0

Rated by 2 employees for salary & benefits

Senior Software Developer in Pune

Engineering - Software & QA Department

4.0

• posted on 14 Mar 2022

3.0

for Salary and Benefits

Likes

This company provide good opportunities to employees. The compensation structure is average. The work culture in company is good. Company take care of employee.

Dislikes

Company is not so keen on employee's skill development.

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.

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.

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.

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.

Senior Test Lead in Pune

Full Time

Engineering - Software & QA Department

1.0

• posted on 21 Nov 2021

1.0

for Salary and Benefits

Likes

Change in management is bringing visteon friends only.No internal growth. New joiner will be made fool with high joining salary and then as the years go by there will be no increament given.This management is know for twisting and moulding the rules.

Dislikes

Everything.no growth or oppurtunity.No increments.

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.

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.

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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 International Product Engineer Salary FAQs

What is the salary of Product Engineer at Magna International?

Product Engineer salary at Magna International in India ranges between ₹3.6 Lakhs to ₹10.5 Lakhs for less than 1 year of experience to 6 years. According to our estimates it is 9% less than the average Product Engineer Salary in India. Salary estimates are based on 8 latest salaries received from various employees of Magna International India.

How does the salary of a Product Engineer at Magna International India compare with the average salary range for this job?

The average salary of a Product Engineer at Magna International is 9% less than the average salary of a Product Engineer in India. To know exact salary insights, login to view.

What are the top skills required to work as a Product Engineer at Magna International?

Bom, Manufacturing Engineering, Communication Skills, Excel and 8D are some of the popular skills required to work as a Product Engineer at Magna International India.

Which similar companies are paying more than Magna International to a Product Engineer in India?

Mahindra & Mahindra Product Engineer Salary - ₹6.3 Lakhs to ₹11.0 Lakhs per year
Faurecia Product Engineer Salary - ₹8.0 Lakhs to ₹9.4 Lakhs per year
Lear Corporation Product Engineer Salary - ₹4.5 Lakhs to ₹11.4 Lakhs per year

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

Aptiv Product Engineer Salary - ₹3.1 Lakhs to ₹9.5 Lakhs per year
Michelin Product Engineer Salary - ₹4.3 Lakhs to ₹8.0 Lakhs per year
Bosch Product Engineer Salary - ₹4.2 Lakhs to ₹7.2 Lakhs per year
Nexteer Automotive Product Engineer Salary - ₹4.0 Lakhs to ₹7.6 Lakhs per year
Tata Motors Product Engineer Salary - ₹2.9 Lakhs to ₹4.0 Lakhs per year

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

The estimated take-home salary of a Product Engineer at Magna International ranges between ₹56,190 per month to ₹57,599 per month in India. The take-home salary calculation is based on the average Magna International Product Engineer salary in India which ranges between ₹3.6 Lakhs to ₹10.5 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 Product Engineer at Magna International?

According to AmbitionBox, 78% of the Magna International Product Engineers reported a notice period of 3 Months, 22% reported a notice period of 1 Month.This is based on 9 responses on AmbitionBox in last 2 years.

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Magna International Product Engineer Salaries

Magna International Product Engineer salary in India ranges between ₹3.6 Lakhs to ₹10.5 Lakhs with an average annual salary of ₹. Salary estimates are based on 8 Magna International latest salaries received from various employees of Magna International.