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Ohio Magnetics Inc Salary

Ohio Magnetics Inc Salary

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As of October 2026, the average hourly salary for employees at Ohio Magnetics Inc in the United States is $45. This translates to an approximate annual wage of $92,896. Salaries at Ohio Magnetics Inc typically range from $39 to $50 hourly, reflecting the diverse roles and experience levels within the company.
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Is Ohio Magnetics Inc’s Pay Competitive? Salary Benchmarking Analysis

How does Ohio Magnetics 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
Shrock Manufacturing Inc $43
-4.0%
Shrock Manufacturing Inc operates with a leaner overhead structure, impacting base wage offers.
Hub Workshop Ltd $41
-7.4%
Typical compensation structure for smaller regional agencies like Hub Workshop Ltd.
Sic Lazaro Sl $45
+0.9%
Suggests Sic Lazaro Sl utilizes a highly similar base-plus-benefits compensation model.
American Friction Technologies Inc $45
+1.3%
Confirms American Friction Technologies Inc is a direct competitor vying for the exact same talent pool.
MFG Durable Industry $59
+31.1%
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.

Companies Similar to Ohio Magnetics Inc and Their Hourly Pay Rates

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

Employee Reviews: Working at Ohio Magnetics Inc

Considering a career at Ohio Magnetics 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.
Leadership is visible but doesn’t always follow through quickly on suggestions or feedback. Strong workplace culture, efficient processes, and consistent leadership create a stable and productive environment. Environment is okay—neither too challenging nor too easy. Promotion pathways are available but competitive.
Commented in March 08, 2025
50
2
The focus on safety here is second to none. Management listens to feedback. Workload fluctuations can lead to stressful periods, especially during production peaks. Management listens, and the work feels meaningful. Regular recognition of achievements motivates employees and fosters loyalty. Workplace culture is professional but can feel formal or rigid.
Commented in February 01, 2025
19
0
Schedules are consistent, which is important for planning your personal time. There’s a decent balance between routine and task variation. Production goals are met with some variance in consistency. Benefits are standard, offering health insurance and retirement plans but lacking extras. However, job stability is good and stress levels are low.
Commented in January 13, 2024
34
3

Ohio Magnetics Inc Overview

Website
www.ohiomagnetics.com
Founded In
1917
Employees
50 - 100 employees
Industry
MFG Durable
Headquarter Address
5400 Dunham Rd Maple Heights Ohio OH 44137
Revenue
$10 Million - $50 Million
Phone Number
+1 2166628484
Social Media
About Ohio Magnetics Inc
For nearly one hundred years, Ohio Magnetics, Inc. has designed and manufactured lifting magnets systems and magnetic separation equipment. Our Stearns™ brand of magnetic separation and detection equipment have been produced and used by thousands of customers worldwide. Ohio Magnetics, Inc. is recognized as a world leader in the development of lifting magnets systems and magnetic separation equipm

What Benefits Does Ohio Magnetics Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. Ohio Magnetics 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 Cleveland?

Understanding the cost of living near Cleveland is key to truly evaluating a salary offer or your current compensation at Ohio Magnetics Inc.
Cleveland's Cost of Living Index is approximately 77.5 (22.5% less expensive than US average; 14.6% less than OH average). Major city on Lake Erie, medical hub, very affordable housing. RTA bus/rail. When planning your budget based on a salary from Ohio Magnetics Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $850 - $1,300+ A significant portion of Ohio Magnetics Inc salary. Location choices impact this heavily.
Utilities (Basic) $150 - $240 Electricity, Heating, Cooling, Water etc.
Public Transportation $95 (RTA monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $370 - $550 Can be higher with more dining out or specialty stores.
Personal & Leisure $330 - $630+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $360 - $660+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,155 - $3,385+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Ohio Magnetics Inc

1. What is the average salary for employees at Ohio Magnetics Inc?

The average total compensation for employees at Ohio Magnetics Inc is approximately $45 per hour. However, this is an aggregate figure, actual salaries can range significantly, typically from $39 to $50 per hour, depending on factors like job role, experience, and location.

2. How much does Ohio Magnetics Inc pay compared to Shrock Manufacturing Inc?

The average annual salary at Ohio Magnetics Inc is $92,896, or an hourly wage of $45, in comparison to Shrock Manufacturing Inc which pays $89,152 per year or $43 per hour.

3. What is the lowest salary at Ohio Magnetics Inc?

The lowest-paying job at Ohio Magnetics Inc is a Cost Accountant with a salary of $33 per hour. The lowest- paying job depends heavily on the specific role, location, whether it's an hourly or salaried position, and if it's full-time, part-time, or an internship. Generally, entry-level positions might represent the lower end of the pay scale.

4. How does having a professional certification impact salary for relevant roles at Ohio Magnetics Inc?

Professional certifications like PMP (for Project Managers), CPA (for Accountants), or another relevant certification for the industry can often lead to higher salaries and better job prospects at Ohio Magnetics Inc for applicable roles. Certifications demonstrate a verified level of expertise and commitment to a profession, making candidates more competitive.

5. Does Ohio Magnetics Inc offer cost-of-living adjustments (COLA) for employees in high-cost areas like Cleveland?

While some companies offer formal COLA, many, including potentially Ohio Magnetics Inc, incorporate cost of living considerations into their overall salary structure for different locations rather than as a separate, itemized adjustment. This means their base pay bands for roles in high-cost cities like New York City are generally set higher to account for these local market factors.

6. What's the typical process for salary reviews and raises at Ohio Magnetics Inc?

Most companies, likely including Ohio Magnetics Inc, conduct formal salary reviews annually, often tied to performance evaluations. During these reviews, factors like individual performance, meeting goals, company performance, and market adjustments are typically considered for potential salary increases.

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