Magna International Senior Product Engineer Salaries by 4 Employees

6 - 10 years exp.

₹7 Lakhs - ₹15 Lakhs

Low Confidence

Avg. annual salary

Monthly In-hand Salary

5% more than the average Senior Product Engineer Salary in Auto Components Companies for 6 - 10 years of experience

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Last Updated: 12 Jan 2024

Companies similar to Magna International for Senior Product Engineer

Company name	Avg Annual Salary	Open Jobs
Lear Corporation Senior Product Engineer Salary 6 - 11 years exp. (9 salaries)	₹9 L/yr - ₹10 L/yr 35% less
Faurecia Senior Product Engineer Salary 4 - 8 years exp. (9 salaries)	₹5.6 L/yr - ₹10.1 L/yr 43% less
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Nexteer Automotive Senior Product Engineer Salary 6 - 9 years exp. (4 salaries)	₹8 L/yr - ₹17 L/yr 13% less
Valeo Senior Product Engineer Salary 7 - 11 years exp. (4 salaries)	₹16 L/yr - ₹18.5 L/yr 19% more
ANTOLIN Senior Product Engineer Salary 10 - 11 years exp. (3 salaries)	₹14.4 L/yr - ₹14.9 L/yr 1% more

Senior Product Engineer salary at Magna International ranges between ₹7 Lakhs to ₹15 Lakhs per year for employees with experience between 6 years to 10 years. Salary estimates are based on 4 latest salaries received from various employees of Magna International.

Experience wise Magna International Senior Product Engineer salaries

Last Updated: 12 Jan 2024

Experience	Avg Annual Salary
9 years (AmbitionBox Estimate)	₹12.5 L/yr - ₹16 L/yr
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10 years (AmbitionBox Estimate)	₹13.5 L/yr - ₹17.2 L/yr

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Salary related reviews for Magna International

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.

Job security - Excellent

+3 more

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.

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

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.

Salary - Bad

+6 more

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

see more salary related reviews

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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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Magna International Senior Product Engineer Salary FAQs

What is the salary of Senior Product Engineer at Magna International ?

The average salary of a Senior Product Engineer at Magna International in India typically ranges from ₹7.0 Lakhs to ₹15.0 Lakhs per year, depending on experience (from 6 years to 10 years).

The top 10% of Senior Product Engineer at Magna International earn more than ₹15.0 Lakhs per year, and the top 1% earn over ₹15.0 Lakhs per year. Senior Product 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 Senior Product Engineer at Magna International in India?

The estimated take-home salary of a Senior Product Engineer at Magna International in India typically ranges from ₹1,00,243 to ₹1,02,972 per month. This is based on the average salary range of ₹7.0 Lakhs to ₹15.0 Lakhs per year for employees with experience ranging from 6 years to 10 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 Senior Product Engineer in India?

Valeo	₹16.0 Lakhs to ₹18.5 Lakhs per year
ANTOLIN	₹14.4 Lakhs to ₹14.9 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 Senior Product Engineer in companies similar to Magna International in India?

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

Nexteer Automotive	₹8.0 Lakhs to ₹17.0 Lakhs per year
Lear Corporation	₹9.0 Lakhs to ₹10.0 Lakhs per year
Faurecia	₹5.6 Lakhs to ₹10.1 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 Senior Product Engineer at Magna International in India?

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

Experience	Average Salary Range
9 years	₹12.5 Lakhs to ₹16.0 Lakhs per year
10 years	₹13.5 Lakhs to ₹17.2 Lakhs per year

and so on.

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Magna International Senior Product Engineer Salaries

Magna International Senior Product Engineer salary in India ranges between ₹7 Lakhs to ₹15 Lakhs with an average annual salary of ₹. Salary estimates are based on 4 Magna International latest salaries received from various employees of Magna International.