Lane Tool Salary

Lane Tool Salary

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As of July 2026, the average annual salary for employees at Lane Tool in the United States is $93,350. This translates to an approximate hourly wage of $45. Salaries at Lane Tool typically range from $82,224 to $105,343 annually, reflecting the diverse roles and experience levels within the company.
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Current Job Openings at Lane Tool

Ready for your next career move? Explore current job openings at Lane Tool. Use the search tool below to find available positions by title and location and apply directly to start your career.

Is Lane Tool’s Pay Competitive? Salary Benchmarking Analysis

How does Lane Tool'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
Wheeler Industrial Corp $100,976
+8.2%
Reflects structural premiums typical of Wheeler Industrial Corp's large-cap national operations.
GenX Medical $78,583
-15.8%
GenX Medical likely leverages performance bonuses over the high base salary shown here.
Liftechnic LLC $87,316
-6.5%
Liftechnic LLC operates with a leaner overhead structure, impacting base wage offers.
One Enterprise Inc $95,059
+1.8%
Indicates identical technical requirements and experience levels between the two firms.
MFG Durable Industry $121,746
+30.4%
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 Lane Tool's Salaries Compare to Similar Companies?

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

Employee Reviews: Working at Lane Tool

Considering a career at Lane Tool? 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 emphasis on a clean, organized, and safe workplace is evident every day. Employees at this company benefit from a collaborative culture that encourages continuous learning and safety awareness. The dedication to producing high-quality products is evident at every stage, from R&D to the assembly line. Training is provided but often general and not role-specific. Training is offered but can be g...
Commented in February 11, 2025
11
3
Recognition programs boost morale, making it a rewarding place to work and grow professionally. Cross-training opportunities help keep the job interesting and develop new skills. Safety training goes beyond minimum requirements, creating genuine culture of care. Competitive pay and benefits, plus solid work-life balance. It’s not just about numbers; it’s about making a product we can all be proud ...
Commented in November 03, 2024
8
3
The culture promotes accountability and efficiency, and it's great knowing your contributions matter. Recognition programs celebrate successes, boosting morale. Morale is high thanks to fair treatment and achievable goals. Schedules are predictable, and overtime opportunities are fair.
Commented in June 28, 2024
22
1

Lane Tool Overview

Website
www.lanetool.com
Founded In
1976
Employees
<25 employees
Industry
MFG Durable
Headquarter Address
655 Sundown Rd South Elgin Illinois IL 60177
Revenue
<$5 Million
Phone Number
+1 8476221506
Social Media
About Lane Tool
Lane Tool is a valued worldwide supplier of can tooling and equipment for the metal packaging industry; including tab, shell, lane, score, double, aerosol and most other metal packaging tooling. Our team consists of highly qualified engineers and technicians that design, build, and service equipment and tooling for this unique industry. We design and build systems specific to your needs and requir

What Benefits Does Lane Tool Offer Beyond Salary?

A competitive compensation package is more than just a salary. Lane Tool 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 Lane Tool?
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What Is the Cost of Living Near Elgin?

Understanding the cost of living near Elgin is key to truly evaluating a salary offer or your current compensation at Lane Tool.
Elgin's Cost of Living Index is approximately 97.3 (2.7% less expensive than US average; 3.7% more than IL average). NW Chicago suburb, more affordable housing. Pace bus, Metra rail. When planning your budget based on a salary from Lane Tool, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,150 - $1,650+ A significant portion of Lane Tool salary. Location choices impact this heavily.
Utilities (Basic) $150 - $240 Electricity, Heating, Cooling, Water etc.
Public Transportation Pace/Metra (varies) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $400 - $580 Can be higher with more dining out or specialty stores.
Personal & Leisure $330 - $630+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $370 - $680+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,400 - $3,780+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Lane Tool

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

The typical annual salary range for most roles at Lane Tool is approximately from $82,224 to $105,343. 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 Lane Tool pay compared to Wheeler Industrial Corp?

The average annual salary at Lane Tool is $93,350, or an hourly wage of $45, in comparison to Wheeler Industrial Corp which pays $100,976 per year or $49 per hour.

3. Do salaries differ significantly between departments at Lane Tool?

Yes, salaries often differ between departments at Lane Tool 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 Lane Tool?

Experience level is a significant factor in determining salary at Lane Tool, 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 Lane Tool in Elgin is fair given the local cost of living?

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

6. What factors influence salary increases at Lane Tool?

Salary increases at Lane Tool are likely influenced by a combination of factors, including: individual employee performance against set goals, overall company performance and profitability, budget availability, changes in the market rate for similar roles (market adjustments), and sometimes cost-of-living increases.

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