As of August 01, 2026, the average salary for a Tool Maker III in Rhode Island is $73,190 per year, which breaks down to an hourly rate of $35.
However, a Tool Maker III's salary can vary significantly. Here’s a look at the typical salary range:
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A Tool Maker 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 Tool Maker 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 |
|---|---|---|
| Machine Shop Tool & Die Maker I | 0-1 years | $50,406 |
| Machine Shop Tool & Die Maker II | 1-3 years | $65,245 |
| Tool Maker III | 3-5 years | $73,143 |
| Machine Shop Tool & Die Maker IV | 5-7 years | $81,681 |
| Tool and Die Supervisor I | 7+ years | $86,197 |
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 Tool Maker IIIs. For example, consider the average annual salaries in these key locations:
Tool Maker III salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $82,329. While startup companies pay approximate $69,604.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $69,604 |
| Growth Stage | 51~500 | $73,626 |
| Established | 501~5000 | $79,492 |
| Enterprise | 5000+ | $82,329 |
For Tool Maker III roles, the industry you choose can affect earning potential by as much as 50% (the gap between the highest and lowest paying industries). Data shows that the Pharmaceuticals and Energy & Utilities sectors offer the strongest compensation, at 30% above the average. In contrast, Tool Maker positions in Retail & Wholesale or Transportation typically offer lower base pay, as these industries often view Tool Maker III as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Pharmaceuticals | $95,147 | $46.0 | 30% |
| Energy & Utilities | $87,828 | $42.0 | 20% |
| Financial Services | $84,168 | $40.0 | 15% |
| Biotechnology | $80,509 | $39.0 | 10% |
| Aerospace & Defense | $76,850 | $37.0 | 5% |
Understanding how a Tool Maker 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.
Last Updated on August 01, 2026For a Tool Maker III, the most direct path to higher earnings is advancing to the Machine Shop Tool & Die Maker IV role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $81,700 - a projected growth of 12% over your current level.
Ready to take the next step in your career? Browse thousands of current Tool Maker III job openings on our job board. Use the search bar below to find your perfect match.
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