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As of August 01, 2026, the average salary for a Hardware Development Engineer V in Indiana is $157,290 per year, which breaks down to an hourly rate of $76.
However, a Hardware Development Engineer V's salary can vary significantly. Here’s a look at the typical salary range:
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Hardware Development Engineer V Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $165,190 | $13,766 | $3,177 | $79 |
| Average | $157,290 | $13,108 | $3,025 | $76 |
| 25th Percentile | $148,990 | $12,416 | $2,865 | $72 |
APP Engineering, Inc. - Indianapolis, IN
AISIN World Corp. of America - Seymour, IN
Avero - Elkhart, IN
Jet Technologies - Elkhart, IN
A Hardware Development Engineer V's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, and company size can directly affect your earning potential.
Experience is a primary driver of a Hardware Development Engineer V's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Hardware Design Engineer III | 4-7 years | $109,697 |
| Hardware Design Engineer - Specialist | 7+ years | $133,231 |
| Hardware Development Engineer V | 7-10 years | $157,273 |
| Hardware Development Engineer VI | 10-12 years | $187,960 |
| Hardware Design Engineering Supervisor | 12+ years | $122,679 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Hardware Development Engineer Vs. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
Hardware Development Engineer V salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $176,077. While startup companies pay approximate $148,957.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $148,957 |
| Growth Stage | 51~500 | $157,540 |
| Established | 501~5000 | $170,034 |
| Enterprise | 5000+ | $176,077 |
For Hardware Development Engineer V roles, the industry you choose can affect earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the Biotechnology and Software & Networking sectors offer the strongest compensation, at 20% above the average. In contrast, Hardware Development Engineer positions in Edu., Gov't. & Nonprofit or Hospitality & Leisure typically offer lower base pay, as these industries often view Hardware Development Engineer V as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Biotechnology | $188,748 | $91.0 | 20% |
| Software & Networking | $188,748 | $91.0 | 20% |
| Energy & Utilities | $180,884 | $87.0 | 15% |
| Chemicals | $173,019 | $83.0 | 10% |
| Insurance | $173,019 | $83.0 | 10% |
Understanding how a Hardware Development Engineer V's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $165,190 | $13,766 | $3,177 | $79 |
| Average | $157,290 | $13,108 | $3,025 | $76 |
| 25th Percentile | $148,990 | $12,416 | $2,865 | $72 |
For a Hardware Development Engineer V, the most direct path to higher earnings is advancing to the Hardware Development Engineer VI role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $188,000 - a projected growth of 20% over your current level.
Ready to take the next step in your career? Browse thousands of current Hardware Development Engineer V job openings on our job board. Use the search bar below to find your perfect match.
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