As of April 01, 2026, the average hourly rate for a Tool Design Engineer V in the United States is $71, which translates to an annual salary of about $147,658.
However, the hourly wage can vary significantly based on several factors. Here’s a detailed look at the typical pay range per hour:
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A Tool Design 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, education and company size can directly affect your earning potential.
Experience is a primary driver of a Tool Design 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 |
|---|---|---|
| Tool Design Engineer II | 2-4 years | $90,694 |
| Tool Design Engineer III | 4-7 years | $103,281 |
| Tool Design Engineer IV | 7+ years | $125,214 |
| Tool Design Engineer V | 7-10 years | $147,658 |
| Tool Design Engineering Manager | 10+ years | $152,948 |
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 Design Engineer Vs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Planning | 7.69% |
| Open Access | 3.85% |
| Feasibility Studies | 1.92% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Verbal Communication
|
$165,377 |
12%
|
|
New Product Introduction
|
$163,900 |
11%
|
|
Root Cause Analysis
|
$163,900 |
11%
|
|
OEM
|
$156,517 |
6%
|
|
Innovation
|
$155,041 |
5%
|
|
Attention to Detail
|
$153,564 |
4%
|
Your level of education can impact your salary potential. While many Tool Design Engineer Vs enter the field with a Associate's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Tool Design Engineer V with a Associate's Degree is between $144,485 and $155,884).
Tool Design Engineer V Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 23.1% |
| High School | 23.1% |
| Associates | 34.6% |
| Bachelors | 38.5% |
| Masters | 0.0% |
| Doctorate | 3.8% |
Understanding how a Tool Design 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.
Last Updated on April 01, 2026Salaries for a Tool Design Engineer V can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $146,627 in 2023 to around $144,393 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Tool Design Engineer V salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $146,627 |
| 2024 | $146,003 |
| 2025 | $144,393 |
| 2026 |
View More
|
| 2027 |
View More
|
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Designs and develops tools and machinery used to facilitate and optimize manufacturing processes. Reviews product design and build requirements to determine tooling concepts, design options, testing plans, and specifications. Develops designs for fixtures, jigs, gauges, cutting and forming tools, carts, racks, and other items to support production. Utilizes Computer-Aided Design (CAD) to create accurate, complete, and concise design models and documentation to fabricate tools. Estimates costs, resource requirements, and materials required for tools. May manage the sourcing, quoting, or procurement of purchased tools. Typically requires a bachelor's degree or equivalent. Typically reports to a supervisor or manager. Works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. Typically requires 10+ years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Planning: An act or process of making or carrying out plans. Establishment of goals, policies, and procedures for a social or economic unit city planning business planning.
Open Access: Open Access (OA) refers to all electronic resources that are made widely available on the internet without licensing and copyright restrictions. Open Access resources can include articles, journals, books, conference proceedings, theses, music, etc.
Feasibility Studies: A feasibility study is the initial design stage to any project or plan. As the name implies, a feasibility study is an analysis into the viability of an idea.
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
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