Magna Industries Salary

Magna Industries pays its employees an average of $86,843 per year. The average salary at Magna Industries range from $76,389 to $98,425 per year. 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.

The salary at Magna Industries is higher than its peer company. The average annual salary at Magna Industries is $86,843, or an hourly wage of $42, in comparison to MACHINE REPAIR INTERNATIONAL LLC which pays $84,595 per year or $41 per hour.

Salary progression with years of experience at Magna Industries is typical. Generally, as employees gain more relevant experience, develop more skills, and take on greater responsibilities, their earning potential increases. For example, a role with 5-7 years of experience will usually pay more than the same role requiring 0-2 years.

Yes, it's very likely that salaries at Magna Industries vary by office location. Companies often adjust pay based on local market rates, cost of living, and talent competition in different geographic areas. For instance, a role in a high-cost city like New York City may offer a higher nominal salary than the same role in a lower-cost city like Omaha, NE. Our Cost of Living Insights for Lakewood section provides more context.

Magna Industries typically offers a comprehensive benefits package that adds significant value to an employee's total compensation. Common benefits include health, dental, and vision insurance, a 401(k) plan often with a company match, paid time off. For example, a strong 401(k) match or excellent, low-cost health insurance can be worth thousands of dollars annually, effectively increasing your overall earnings beyond your base salary. For a more detailed list of benefits, please see our "Employee Benefits at Magna Industries" section on this page.