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IAM Local 701 Salary

IAM Local 701 Salary

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As of September 2026, the average annual salary for employees at IAM Local 701 in the United States is $97,738. This translates to an approximate hourly wage of $47. Salaries at IAM Local 701 typically range from $85,991 to $110,526 annually, reflecting the diverse roles and experience levels within the company.

How Much Does IAM Local 701 Pay for Different Roles?

Explore detailed salary information for specific jobs at IAM Local 701. Based on our data, the highest paying job is the Executive Assistant, with an annual salary of $78,396. The table below outlines the annual salary ranges for most popular roles within the company.
How accurate does the salary look to you?

Is IAM Local 701’s Pay Competitive? Salary Benchmarking Analysis

How does IAM Local 701'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
Mid-Florida Benefits Solutions LLC $89,215
-8.7%
Mid-Florida Benefits Solutions LLC likely leverages performance bonuses over the high base salary shown here.
Benefit Funds $99,330
+1.6%
Aligns perfectly with prevailing regional benchmarks for this specific job family.
ERISA Inc $95,734
-2.1%
Indicates identical technical requirements and experience levels between the two firms.
Automobile Mechanics $95,343
-2.5%
Confirms Automobile Mechanics is a direct competitor vying for the exact same talent pool.
Insurance Industry $123,858
+26.7%
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 IAM Local 701's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at IAM Local 701. Click a company name to learn more.

Employee Reviews: Working at IAM Local 701

Considering a career at IAM Local 701? 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.
Overall, it’s a supportive and forward-thinking workplace. Great colleagues and strong company vision. The insurance products are reliable, and workflows are well-structured. I’ve had the chance to work on impactful projects and develop new skills.
Commented in February 02, 2025
47
0
The company operates efficiently with clear processes in place. A good choice if you prefer predictability in your career. Colleagues are respectful, though departments could communicate better. Flexible scheduling is a plus, and the benefits are comprehensive. Great workplace with a focus on employee well-being. Compensation is fair, with performance bonuses and annual raises.
Commented in June 10, 2024
27
2
The training programs are excellent, helping employees stay ahead in the industry. It’s a stable workplace with reasonable expectations for employees. The leadership team is transparent, and there’s a real effort to recognize hard work. Colleagues are collaborative, and the office vibe is energetic. A rewarding place to work.
Commented in February 06, 2024
13
0

IAM Local 701 Overview

Website
www.mech701-benefits.org
Founded In
Data pending, update soon.
Employees
<25 employees
Industry
Insurance
Headquarter Address
361 S Frontage Rd Burr Ridge Illinois IL 60527
Revenue
$10 Million - $50 Million
Phone Number
+1 8007046271
Social Media
About IAM Local 701
The Funds are governed by a Board of Trustees. Management goal and philosophy: The Fund Office will direct all its energies toward servicing the needs of the participants in the Automobile Mechanics Local 701 Union & Industry Welfare and Pension Funds. We will provide quality service in a financially sound and prudent manner. We will be ethical, innovative and creative in the services we provide.

What Benefits Does IAM Local 701 Offer Beyond Salary?

A competitive compensation package is more than just a salary. IAM Local 701 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)
Work at IAM Local 701?
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What Is the Cost of Living Near Chicago?

Understanding the cost of living near Chicago is key to truly evaluating a salary offer or your current compensation at IAM Local 701.
Chicago's Cost of Living Index is approximately 106.9 (6.9% more expensive than US average; 14.0% more than IL average). Major US city, housing varies greatly by neighborhood but can be high, extensive CTA transit. When planning your budget based on a salary from IAM Local 701, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,700 - $2,600+ A significant portion of IAM Local 701 salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $105 (CTA 30-day pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $430 - $640 Can be higher with more dining out or specialty stores.
Personal & Leisure $450 - $800+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $400 - $750+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $3,225 - $5,025+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of IAM Local 701

1. What is the estimated average total compensation at IAM Local 701?

Salary.com estimates that the average total compensation package at IAM Local 701, which can include base salary, potential bonuses, and benefits, is around $97,738 annually . Total compensation provides a more holistic view of an employee's earnings.

2. How much does IAM Local 701 pay compared to Mid-Florida Benefits Solutions LLC?

The average annual salary at IAM Local 701 is $97,738, or an hourly wage of $47, in comparison to Mid-Florida Benefits Solutions LLC which pays $89,215 per year or $43 per hour.

3. What's the typical salary progression for an employee moving from an entry-level to a senior role at IAM Local 701?

Salary progression from an entry-level to a senior role at IAM Local 701 can be significant, often involving several promotions and substantial pay increases. For example, an entry-level Analyst might see their salary potentially double or more as they progress to a Senior Manager or Director position over several years, assuming strong performance and development.

4. How can I determine if a salary offer from IAM Local 701 in Chicago is fair given the local cost of living?

To determine if a salary offer from IAM Local 701 in Chicago is fair, first compare the gross salary to our data for similar roles at IAM Local 701 and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Chicago" to understand its purchasing power.

5. Are promotions at IAM Local 701 usually accompanied by a significant salary increase?

Yes, promotions at IAM Local 701 are generally accompanied by a salary increase. The amount of the increase typically reflects the greater responsibilities, skills, and scope of the new role. The percentage increase can vary widely depending on the level of promotion and the company's compensation structure.

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