Challenge Tool & Manufacturing Salary

Challenge Tool & Manufacturing Salary

How much does the Challenge Tool & Manufacturing Pay for employees?

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As of July 2026, the average annual salary for employees at Challenge Tool & Manufacturing in the United States is $86,620. This translates to an approximate hourly wage of $42. Salaries at Challenge Tool & Manufacturing typically range from $76,268 to $97,795 annually, reflecting the diverse roles and experience levels within the company. Challenge Tool & Manufacturing’s salaries are influenced by a wide range of factors including job role, department, years of experience, and location.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.

How Much Does Challenge Tool & Manufacturing Pay for Different Roles?

Explore detailed salary information for specific jobs at Challenge Tool & Manufacturing. The table below outlines the annual salary ranges for popular roles within the company, helping you benchmark potential earnings. Use 'View by Card/Table' option to find the data most relevant to your career path.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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Current Job Openings at Challenge Tool & Manufacturing

Ready for your next career move? Explore current job openings at Challenge Tool & Manufacturing. Use the search tool below to find available positions by title and location and apply directly to start your career.

Is Challenge Tool & Manufacturing’s Pay Competitive? Salary Benchmarking Analysis

How does Challenge Tool & Manufacturing’s compensation stack up against the market? This analysis visualizes their annual average salary compared to its industry benchmark and key peer companies.
Peer Company & Industry Benchmarking
180k
150k
120k
90k
60k
30k
0
Average Salary ($/year)
Challenge Tool & Manufacturing
MFG Durable
Blaze Grills
Gozney Ltd
Industry Comparison
Our data shows that, on average, compensation at Challenge Tool & Manufacturing is below the average for the U.S. MFG Durable industry by approximately 29%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared Challenge Tool & Manufacturing average annual salary with several similar companies. Challenge Tool & Manufacturing average salary of $86,620 is higher than Blaze Grills, which has an average salary of $86,040. It is lower than Gozney Ltd, with their average salary at $97,453. This places Challenge Tool & Manufacturing in a mid-range position among its peers.
See Your True Competitors
The companies behind the question marks could be hiring your best people. Don't operate with incomplete data. Unlock your full competitive view with Salary.com for Business to precisely benchmark salaries, benefits, and more against your true competitors.

How Challenge Tool & Manufacturing's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Challenge Tool & Manufacturing. Click a company name to learn more.

Employee Reviews: Working at Challenge Tool & Manufacturing

Considering a career at Challenge Tool & Manufacturing? 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.
Workflow processes work but sometimes lack flexibility. The focus on lean manufacturing principles eliminates wasteful practices while improving working conditions. Excellent quality standards across production. What makes this manufacturing company special is its employee-first approach.
Commented in March 24, 2025
24
1
A well-run company where professionalism and teamwork drive performance every day. Benefits are decent. This company stands out for its commitment to quality and continuous improvement, not just in its products but also in its employee welfare. Tasks are assigned clearly, and performance expectations are measurable. Communication from leadership is polite but often limited to essential updates. Th...
Commented in October 07, 2024
18
2
Proactive maintenance prevents costly disruptions. This company is dedicated to fostering a culture of collaboration and continuous learning. I'm proud to be part of a manufacturing company that not only excels in its industry but also takes great care of its employees.
Commented in March 08, 2024
20
3

Challenge Tool & Manufacturing Overview

Website
www.ctm-inc.com
Founded In
1969
Employees
25 - 50 employees
Industry
MFG Durable
Headquarter Address
11725 Lincoln Hwy E New Haven Indiana IN 46774
Revenue
$10 Million - $50 Million
Phone Number
+1 2607499558
Social Media
About Challenge Tool & Manufacturing
Challenge Tool & Manufacturing is committed to total quality assurance in all aspects of our operations. Our goal is to continue providing our customers with products and services that meet or exceed mutually agreed upon specifications and timetables. Challenge is known for it's exceptional quality at competitive prices and on-time delivery performance.

What Benefits Does Challenge Tool & Manufacturing Offer Beyond Salary?

A competitive compensation package is more than just a salary. Challenge Tool & Manufacturing 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 Indianapolis?

Understanding the cost of living near Indianapolis is key to truly evaluating a salary offer or your current compensation at Challenge Tool & Manufacturing.
Indianapolis' Cost of Living Index is approximately 83.5 (16.5% less expensive than US average; 7.8% less than IN average). State capital, affordable housing, growing downtown. IndyGo bus. When planning your budget based on a salary from Challenge Tool & Manufacturing, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $950 - $1,400+ A significant portion of Challenge Tool & Manufacturing salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $60 (IndyGo monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $380 - $560 Can be higher with more dining out or specialty stores.
Personal & Leisure $350 - $650+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $360 - $670+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,240 - $3,510+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Challenge Tool & Manufacturing

1. How much does a Challenge Tool & Manufacturing employee make?

Challenge Tool & Manufacturing pays its employees an average of $86,620 per year. The average salary at Challenge Tool & Manufacturing range from $76,268 to $97,795 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. Which similar company tend to pay more or less than Challenge Tool & Manufacturing?

The salary at Challenge Tool & Manufacturing is higher than the similar company. The average annual salary at Challenge Tool & Manufacturing is $86,620, or an hourly wage of $42, in comparison to Blaze Grills which pays $86,040 per year or $41 per hour.

3. How much does a Chief Financial Officer typically earn at Challenge Tool & Manufacturing?

A Chief Financial Officer at Challenge Tool & Manufacturing typically earns an average annual base salary of around $349,578, with a general range of $268,423 to $437,981.

4. Do employees with advanced degrees (Master's, PhD) earn more at Challenge Tool & Manufacturing?

In many roles at Challenge Tool & Manufacturing, particularly those requiring specialized knowledge or research capabilities (e.g., certain engineering, scientific, or financial roles), an advanced degree like a Master's or PhD can lead to a higher starting salary and faster career progression, thus higher earnings. However, for some roles, direct experience and skills might be valued as much or more than an advanced degree. The impact varies by field and specific job requirements.

5. How does the cost of living near Indianapolis affect the perceived value of a Challenge Tool & Manufacturing salary?

Indianapolis' Cost of Living Index is approximately 83.5 (16.5% less expensive than US average; 7.8% less than IN average). This significantly impacts the purchasing power of a salary from Challenge Tool & Manufacturing based there. Our "Cost of Living Insights for Indianapolis" module details this impact, helping you assess the 'real feel' value of your compensation.

6. What kind of benefits does Challenge Tool & Manufacturing typically offer employees?

Challenge Tool & Manufacturing generally offers a range of employee benefits designed to support their workforce's health, financial well-being, and work-life balance. Comprehensive health insurance (medical, dental, vision), a 401(k) retirement savings plan (often with a company match), paid time off (PTO), and potentially disability and life insurance are included. For a more detailed list of benefits, please see our "Employee Benefits at Challenge Tool & Manufacturing" section on this page.

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