Formatech Inc Salary

Formatech Inc Salary

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As of July 2026, the average annual salary for employees at Formatech Inc in the United States is $101,303. This translates to an approximate hourly wage of $49. Salaries at Formatech Inc typically range from $89,253 to $114,306 annually, reflecting the diverse roles and experience levels within the company.
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Current Job Openings at Formatech Inc

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Is Formatech Inc’s Pay Competitive? Salary Benchmarking Analysis

How does Formatech Inc's compensation stack up against the industry and its key competitors? Our salary benchmarking analysis provides a clear comparison. The chart below visualizes this comparison alongside select peer companies.
Competitor / Benchmark Avg. Salary Variance Primary Market Influence Factor & Explanation
Taktik SA $82,981
-18.1%
Normalized for lower cost-of-living zones where Taktik SA primarily operates.
Gavant Software Inc $96,008
-5.2%
Gavant Software Inc focuses strategically on recruiting and training entry-level apprentices.
Filed $84,932
-16.2%
Filed operates with a leaner overhead structure, impacting base wage offers.
Nimble AMS $93,118
-8.1%
Nimble AMS likely leverages performance bonuses over the high base salary shown here.
Software & Networking Industry $126,859
+25.2%
Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors.
Need More Granular Data? The analysis above provides a high-level market overview. To benchmark specific job codes, adjust for real-time cost-of-living changes, or access verified HR-reported datasets, upgrade to Salary.com for Business. Precision matters when building your compensation strategy.

How Formatech Inc's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Formatech Inc. Click a company name to learn more.

Employee Reviews: Working at Formatech Inc

Considering a career at Formatech Inc? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.
The team is cooperative, and management ensures tasks are distributed fairly. The training and development programs are excellent, helping employees upskill. There are occasional training sessions, which are useful. The benefits package is solid, and the work culture is positive. The company maintains a good reputation in the Retail & Wholesale industry, and operations run smoothly. The team is co...
Commented in April 11, 2025
28
1
The workplace culture is positive, with team-building activities and recognition for hard work. The company values employee feedback, which I appreciate. Highly recommend for ambitious retail professionals. I’ve built strong relationships with my coworkers.
Commented in February 11, 2025
42
0
The retail and wholesale industry is dynamic, and the company adapts well to market changes. Overall, it’s a supportive and forward-thinking workplace. The benefits and work flexibility are great perks.
Commented in February 24, 2024
19
1

Formatech Inc Overview

Website
www.formatech.com
Founded In
2002
Employees
<25 employees
Industry
Software & Networking
Headquarter Address
200 Bulfinch Dr Andover Massachusetts MA 01810
Revenue
$10 Million - $50 Million
Phone Number
+1 9787259077
Social Media
About Formatech Inc
Formatech, founded in 1993, is based in Andover, Massachusetts. The company provides contract services that deliver unique solutions to product development/manufacturing challenges, including preformulation/formulation development of all common dosage forms, such as lyophilized dosage forms, cell culture/fermentation process development and purification/downstream process optimization. Their asept

What Benefits Does Formatech Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. Formatech Inc offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:
Social Security
401(K)
Disability
Healthcare
Pension
Time Off (days)
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What Is the Cost of Living Near Lawrence?

Understanding the cost of living near Lawrence is key to truly evaluating a salary offer or your current compensation at Formatech Inc.
Lawrence's Cost of Living Index is approximately 108.5 (8.5% more expensive than US average; 18.2% less than MA average). Merrimack Valley city, historic mills, more affordable housing than Boston area. MVRTA bus, Commuter Rail. When planning your budget based on a salary from Formatech Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,400 - $2,000+ A significant portion of Formatech Inc salary. Location choices impact this heavily.
Utilities (Basic) $180 - $290 Electricity, Heating, Cooling, Water etc.
Public Transportation $35 (MVRTA monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $440 - $650 Can be higher with more dining out or specialty stores.
Personal & Leisure $350 - $650+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $390 - $720+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,800 - $4,310+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Formatech Inc

1. What is the typical salary range (low to high) for most roles at Formatech Inc?

The typical annual salary range for most roles at Formatech Inc is approximately from $89,253 to $114,306. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills, and location.

2. How much does Formatech Inc pay compared to Taktik SA?

The average annual salary at Formatech Inc is $101,303, or an hourly wage of $49, in comparison to Taktik SA which pays $82,981 per year or $40 per hour.

3. Do salaries differ significantly between departments at Formatech Inc?

Yes, salaries often differ between departments at Formatech Inc due to varying market demand for specific skill sets and the nature of the roles. For example, technical roles in Engineering or IT may command different salary ranges compared to roles in Marketing or Human Resources.

4. How does experience level affect salary at Formatech Inc?

Experience level is a significant factor in determining salary at Formatech Inc, as it is with most employers. Generally, employees with more years of relevant experience and a proven track record can command higher salaries. For example, a senior-level role will typically have a higher pay band than an entry-level or mid-career position within the same job family.

5. How can I determine if a salary offer from Formatech Inc in Lawrence is fair given the local cost of living?

To determine if a salary offer from Formatech Inc in Lawrence is fair, first compare the gross salary to our data for similar roles at Formatech Inc and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Lawrence" to understand its purchasing power.

6. Why might an individual's actual salary at Formatech Inc differ from the ranges shown here?

An individual's actual salary at Formatech Inc can differ from our estimated ranges due to various factors. These include their specific years of experience in the role, unique skills or certifications, educational background, performance record, the specific team or department they join, negotiation outcomes, and even the precise timing of when they were hired relative to market fluctuations. Our ranges represent typical compensation.

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