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As of August 01, 2026, the average salary for a Hardware R&D Engineer III in Minnesota is $116,963 per year, which breaks down to an hourly rate of $56.
However, a Hardware R&D Engineer III's salary can vary significantly. Here’s a look at the typical salary range:
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Hardware R&D Engineer III Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $127,363 | $10,614 | $2,449 | $61 |
| Average | $116,963 | $9,747 | $2,249 | $56 |
| 25th Percentile | $108,483 | $9,040 | $2,086 | $52 |
HealthPartners - Minneapolis, MN
Allete - Duluth, MN
Loffler Companies, Inc. - Saint Louis Park, MN
KFI Engineers PC - Hopkins, MN
A Hardware R&D Engineer III'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 R&D Engineer III'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 |
|---|---|---|
| Entry Hardware Engineer | 0-2 years | $84,360 |
| Hardware Design Engineer II | 2-4 years | $100,854 |
| Hardware R&D Engineer III | 4-7 years | $116,943 |
| Hardware Design Engineer - Specialist | 7+ years | $142,031 |
| Hardware Design Engineer V | 7-10 years | $167,661 |
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 R&D Engineer IIIs. 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 R&D Engineer III salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $130,933. While startup companies pay approximate $110,767.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $110,767 |
| Growth Stage | 51~500 | $117,149 |
| Established | 501~5000 | $126,439 |
| Enterprise | 5000+ | $130,933 |
For Hardware R&D Engineer III roles, the industry you choose can affect earning potential by as much as 55% (the gap between the highest and lowest paying industries). Data shows that the Internet and Energy & Utilities sectors offer the strongest compensation, at 25% above the average. In contrast, Hardware R&D Engineer positions in Retail & Wholesale or Transportation typically offer lower base pay, as these industries often view Hardware R&D Engineer III as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Internet | $146,204 | $70.0 | 25% |
| Energy & Utilities | $140,356 | $67.0 | 20% |
| Edu., Gov't. & Nonprofit | $134,507 | $65.0 | 15% |
| Biotechnology | $128,659 | $62.0 | 10% |
| Healthcare | $128,659 | $62.0 | 10% |
Understanding how a Hardware R&D Engineer III'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 | $127,363 | $10,614 | $2,449 | $61 |
| Average | $116,963 | $9,747 | $2,249 | $56 |
| 25th Percentile | $108,483 | $9,040 | $2,086 | $52 |
For a Hardware R&D Engineer III, the most direct path to higher earnings is advancing to the Hardware Design Engineer - Specialist role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $142,100 - a projected growth of 21% over your current level.
Ready to take the next step in your career? Browse thousands of current Hardware R&D Engineer III job openings on our job board. Use the search bar below to find your perfect match.
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