Olsen Tool & Plastics Inc Salary

As of September 2026, the average annual salary for employees at Olsen Tool & Plastics Inc in the United States is $95,923. This translates to an approximate hourly wage of $46. Salaries at Olsen Tool & Plastics Inc typically range from $84,469 to $108,270 annually, reflecting the diverse roles and experience levels within the company.
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Is Olsen Tool & Plastics Inc’s Pay Competitive? Salary Benchmarking Analysis

How does Olsen Tool & Plastics 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
royGwr Specialty Products Inc $89,922
-6.3%
royGwr Specialty Products Inc may offer non-monetary perks in lieu of competitive base salaries.
JD Products Inc $98,107
+2.3%
Aligns perfectly with prevailing regional benchmarks for this specific job family.
aspxFlorida Cast Products Inc $87,506
-8.8%
aspxFlorida Cast Products Inc operates with a leaner overhead structure, impacting base wage offers.
Z Products LLC $87,148
-9.1%
Z Products LLC focuses strategically on recruiting and training entry-level apprentices.
MFG Durable Industry $121,746
+26.9%
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.

Employee Reviews: Working at Olsen Tool & Plastics Inc

Considering a career at Olsen Tool & Plastics 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.
Comprehensive training programs and modern technology ensure efficient operations. We’ve seen steady improvements in every area. Efficient systems and organized workflow. Management is supportive and invests in employee training and well-being. Some are great at communicating, others stick strictly to policies and numbers.
Everyone understands their role and works toward common goals effectively and professionally. A reliable employer that takes employee development and satisfaction seriously every step. Leadership is generally responsive, but some processes lack clarity.
Flexible shifts support work-life balance, and the workplace culture values diversity and respect. Structured onboarding and clear procedures help new hires succeed quickly. It's refreshing to work for a manufacturer that balances productivity demands with genuine concern for employee wellbeing. The production planning is thoughtful, avoiding unnecessary overtime while meeting customer demands. Em...
I feel respected and valued for my contributions, and the leadership team is transparent and communicative about the company's direction. You’re expected to meet targets, and if you do, you’re mostly left alone. Excellent teamwork enhances output and quality.
The company runs well, but morale fluctuates. Overall, this company provides a motivating and stable environment that supports long-term career growth. There's potential for improvement in training and equipment, but overall, the company performs adequately for its size. It’s a decent place to work if you value predictability and stability over career growth or high engagement in your day-to-day t...

Olsen Tool & Plastics Inc Overview

Website
www.olsentool.com
Founded In
1958
Employees
25 - 50 employees
Industry
MFG Durable
Headquarter Address
4060 Norex Dr Chaska Minnesota MN 55318
Revenue
$5 Million - $10 Million
Phone Number
+1 9524487892
Social Media
About Olsen Tool & Plastics Inc
Olsen Tool & Plastic's commitment to quality involves every employee. With a culture of advancement and a full-time Process Improvement Analyst on staff, we are well prepared to meet your evolving quality needs. To ensure you receive the finest products, our Quality Assurance Department makes sure our equipment and practices are up to date.

What Benefits Does Olsen Tool & Plastics Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. Olsen Tool & Plastics 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 Minneapolis?

Understanding the cost of living near Minneapolis is key to truly evaluating a salary offer or your current compensation at Olsen Tool & Plastics Inc.
Minneapolis' Cost of Living Index is approximately 104.8 (4.8% more expensive than US average; 7.9% more than MN average). Major city, vibrant, housing costs above US avg, cold winters (high heating). Metro Transit. When planning your budget based on a salary from Olsen Tool & Plastics Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,400 - $2,100+ A significant portion of Olsen Tool & Plastics Inc salary. Location choices impact this heavily.
Utilities (Basic) $130 - $230 (Heating significant) Electricity, Heating, Cooling, Water etc.
Public Transportation $120 (Metro Transit monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $430 - $630 Can be higher with more dining out or specialty stores.
Personal & Leisure $450 - $800+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $390 - $720+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,920 - $4,480+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Olsen Tool & Plastics Inc

1. How much does Olsen Tool & Plastics Inc in the United States pay?

Olsen Tool & Plastics Inc pays its employees an average of $95,923 per year. The average salary at Olsen Tool & Plastics Inc range from $84,469 to $108,270 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.

2. Do Olsen Tool & Plastics Inc employees get a higher salary than its peer company?

The salary at Olsen Tool & Plastics Inc is higher than its peer company. The average annual salary at Olsen Tool & Plastics Inc is $95,923, or an hourly wage of $46, in comparison to royGwr Specialty Products Inc which pays $89,922 per year or $43 per hour.

3. What are the highest paying jobs at Olsen Tool & Plastics Inc?

The higher-paying job at Olsen Tool & Plastics Inc, according to our data, include Project Manager, Engineering (avg. $137,981 per year), Tooling Manager (avg. $116,438 per year), and Manager, Quality (avg. $103,997 per year). Pay for these roles reflects significant responsibility, specialized skills and experience.

4. How much does salary increase with years of experience at Olsen Tool & Plastics Inc?

Salary progression with years of experience at Olsen Tool & Plastics Inc 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.

5. Do salaries at Olsen Tool & Plastics Inc vary by office location?

Yes, it's very likely that salaries at Olsen Tool & Plastics Inc 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 Minneapolis section provides more context.

6. Does Olsen Tool & Plastics Inc offer good benefits?

Olsen Tool & Plastics Inc 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 Olsen Tool & Plastics Inc" section on this page.