Permanent Magnets Product Development Engineer Salaries by 6 Employees (Updated 2025)

3 - 6 years exp.

₹3 Lakhs - ₹6.4 Lakhs

Avg. annual salary

Monthly In-hand Salary

41% less than the average Product Development Engineer Salary in Metals & Mining Companies for 3 - 6 years of experience

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Salaries in different departments

Production, Manufacturing & Engineering Product Development Engineer Salary 3 - 6 years exp. (3 salaries)	₹3 L/yr - ₹6.4 L/yr
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Research & Development Product Development Engineer Salary 3 - 4 years exp. (AmbitionBox Estimate)	₹4 L/yr - ₹4.8 L/yr

Last Updated: 19 Feb 2025

Companies similar to Permanent Magnets for Product Development Engineer

Company name	Avg Annual Salary	Open Jobs
Hindalco Industries Product Development Engineer Salary 5 - 6 years exp. (4 salaries)	₹2.8 L/yr - ₹6.8 L/yr 3% more
Phenom Product Development Engineer Salary 1 - 4 years exp. (202 salaries)	₹6 L/yr - ₹21.2 L/yr 154% more	3 job openings
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Comviva Technology Product Development Engineer Salary 0 - 2 years exp. (193 salaries)	₹6 L/yr - ₹9.5 L/yr 43% more
TE Connectivity Product Development Engineer Salary 1 - 9 years exp. (140 salaries)	₹4 L/yr - ₹15 L/yr 92% more	9 job openings
HARMAN Product Development Engineer Salary 1 - 5 years exp. (85 salaries)	₹4 L/yr - ₹14 L/yr 66% more

Product Development Engineer salary at Permanent Magnets ranges between ₹3 Lakhs to ₹6.4 Lakhs per year for employees with experience between 3 years to 6 years. Salary estimates are based on 6 latest salaries received from various employees of Permanent Magnets.

Experience wise Permanent Magnets Product Development Engineer salaries

Last Updated: 19 Feb 2025

Experience	Avg Annual Salary
3 years (AmbitionBox Estimate)	₹2.8 L/yr - ₹3.5 L/yr
4 years (3 salaries)	₹3.4 L/yr - ₹5.6 L/yr
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5 years (AmbitionBox Estimate)	₹4.8 L/yr - ₹6.2 L/yr
6 years (AmbitionBox Estimate)	₹5.7 L/yr - ₹7.3 L/yr

Similar Designation salaries in Permanent Magnets

New Product Development Engineer Salary

(AmbitionBox Estimate)

₹4.1 L/yr - ₹5.3 L/yr

Development Engineer Salary

(26 salaries)

₹2.05 L/yr - ₹8 L/yr

Production Engineer Salary

(22 salaries)

₹2.2 L/yr - ₹6 L/yr

Senior Design Engineer Salary

(3 salaries)

₹5.3 L/yr - ₹5.4 L/yr

Design Engineer Salary

(AmbitionBox Estimate)

₹2.9 L/yr - ₹3.7 L/yr

Senior Engineer Salary

(4 salaries)

₹4.2 L/yr - ₹6.5 L/yr

Production Supervisor Salary

(AmbitionBox Estimate)

₹0.2 L/yr - ₹0.2 L/yr

Quality Engineer Salary

(7 salaries)

₹2.75 L/yr - ₹4.5 L/yr

Mechanical Engineer Salary

(AmbitionBox Estimate)

₹4.5 L/yr - ₹5.8 L/yr

Software Developer Salary

(4 salaries)

₹2.2 L/yr - ₹3 L/yr

Salary related reviews for Permanent Magnets

Business Development Engineer in Mumbai

Full Time

Customer Success, Service & Operations Department

2.0

• posted on 06 Jan 2025

2.0

for Salary and Benefits

Likes

staff is supportive, paid leaves.. if boss is good. Work culture also good. Stressless work Timing.

Job security - Excellent

+1 more

Dislikes

Leave compensation 300rs for everyone, HR policy very bad, less basic in salary structure as break Indian Pvt company policy also. Salary as per market like bagger. Bad mgmt policy which take advantage of human sychology of worker. Promotion only 8to10%

Salary - Poor

+1 more

R&D Engineer in Thane

Full Time

Research & Development Department

4.0

• posted on 06 Jan 2025

3.0

for Salary and Benefits

Likes

Best company for learning new skills and work ethics. Salary and promotions might not be very good but company culture is very good. Yoh will get to learn a lot as this company does almost all of its projects in house. If you are at the early stage of your career then just go for it.

Skill development - Excellent

+4 more

Dislikes

Salary and promotions might not be very good.

Senior Engineer Marketing in Mira Bhayandar

Full Time

Marketing & Communication Department

4.0

• posted on 21 Apr 2023

3.0

for Salary and Benefits

Likes

1. On time salary 2. Good team and senior support 3. Mediclaim facilities 4. Transportation services 5. Good learning opportunities(interpersonal skill development) 6. Getting lot of new opportunities.

Skill development - Excellent

+3 more

Dislikes

1. Salary 2. Appraisals

HR Manager in Miraroad

HR Department

5.0

• posted on 22 Dec 2021

5.0

for Salary and Benefits

Likes

...here. For performers, the job is always secured at Permanent Magnets Limited. No employee lost his job in this pandemic or had a pay cut. Traveling reimbursement was completely taken care of during the pandemic.

Salary - Excellent

+6 more

Dislikes

Nil

Telephone Operator And Receptionist in Mira Bhayandar

Full Time

Customer Success, Service & Operations Department

5.0

• posted on 12 Oct 2023

4.0

for Salary and Benefits

Likes

I have been working at this company since past 10 years and its fantastic journey so far.The positive working culture,supportive staff,and excellent environment.its a great place to work. We get lots of benefits of being part of this company is like PF ,Medical insurance ,travelling facilities. In addition we enjoyed yearly picnic ,get together-party and many more small event . The company prioritizes the well being and happiness of its employees.

Salary - Good

+5 more

Dislikes

There is no such a perfect company as well as employee itself to fulfill each others countless choices ,but we have to select some most important criteria when selecting of the company that we choose for work.

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Salary Discussions, Hike & Promotions

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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Permanent Magnets Product Development Engineer Salary FAQs

What is the salary of Product Development Engineer at Permanent Magnets ?

The average salary of a Product Development Engineer at Permanent Magnets in India typically ranges from ₹3.0 Lakhs to ₹6.4 Lakhs per year, depending on experience (from 3 years to 6 years).

The top 10% of Product Development Engineer at Permanent Magnets earn more than ₹6.3 Lakhs per year, and the top 1% earn over ₹6.4 Lakhs per year. Product Development Engineer Salaries at Permanent Magnets 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 Permanent Magnets employees in India.

What is the estimated take home salary of a Product Development Engineer at Permanent Magnets in India?

The estimated take-home salary of a Product Development Engineer at Permanent Magnets in India typically ranges from ₹35,633 to ₹36,863 per month. This is based on the average salary range of ₹3.0 Lakhs to ₹6.4 Lakhs per year for employees with experience ranging from 3 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 Permanent Magnets. Check how we calculate in-hand salary with our in-hand salary calculator.

Which companies offer higher salaries than Permanent Magnets for Product Development Engineer in India?

Phenom	₹6.0 Lakhs to ₹21.2 Lakhs per year
TE Connectivity	₹4.0 Lakhs to ₹15.0 Lakhs per year
HARMAN	₹4.0 Lakhs to ₹14.0 Lakhs per year
Comviva Technology	₹6.0 Lakhs to ₹9.5 Lakhs per year
Hindalco Industries	₹2.8 Lakhs to ₹6.8 Lakhs per year

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

How the salary growth look like for a Product Development Engineer at Permanent Magnets in India?

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

Experience	Average Salary Range
3 years	₹2.8 Lakhs to ₹3.5 Lakhs per year
4 years	₹3.4 Lakhs to ₹5.6 Lakhs per year
5 years	₹4.8 Lakhs to ₹6.2 Lakhs per year
6 years	₹5.7 Lakhs to ₹7.3 Lakhs per year

and so on.

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Permanent Magnets Product Development Engineer Salaries

Permanent Magnets Product Development Engineer salary in India ranges between ₹3 Lakhs to ₹6.4 Lakhs with an average annual salary of ₹. Salary estimates are based on 6 Permanent Magnets latest salaries received from various employees of Permanent Magnets.