Penco Tool Inc Salary

Penco Tool Inc Salary

How much does the Penco Tool Inc Pay for employees?

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As of July 2026, the average annual salary for employees at Penco Tool Inc in the United States is $81,852. This translates to an approximate hourly wage of $39. Salaries at Penco Tool Inc typically range from $72,099 to $92,369 annually, reflecting the diverse roles and experience levels within the company. Penco Tool Inc’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 Penco Tool Inc Pay for Different Roles?

Explore detailed salary information for specific jobs at Penco Tool Inc. 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.
How accurate does the salary look to you?

Current Job Openings at Penco Tool Inc

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

Is Penco Tool Inc’s Pay Competitive? Salary Benchmarking Analysis

How does Penco Tool Inc’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)
Penco Tool Inc
MFG Durable
Industrial Specialties Mfg
SMT Research Inc
Industry Comparison
Our data shows that, on average, compensation at Penco Tool Inc is below the average for the U.S. MFG Durable industry by approximately 33%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared Penco Tool Inc average annual salary with several similar companies. Penco Tool Inc average salary of $81,852 is lower than Industrial Specialties Mfg, which has an average salary of $90,449. It is lower than SMT Research Inc, with their average salary at $87,200. This places Penco Tool Inc in a developing 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 Penco Tool Inc's Salaries Compare to Similar Companies?

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

Employee Reviews: Working at Penco Tool Inc

Considering a career at Penco Tool Inc? 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.
Management listens, and the work feels meaningful. The team I work with is professional and dedicated. It’s a genuinely supportive environment. Management provides regular updates, though feedback is usually surface-level.
Commented in February 26, 2025
11
3
The company's stability in the manufacturing sector provides job security that's rare today. Equipment is well-maintained, and expectations are clear. I’ve found this manufacturing company to be a fantastic place to work. The culture promotes accountability and efficiency, and it's great knowing your contributions matter. Shift schedules are predictable, though sometimes repetitive. Equipment upda...
Commented in July 13, 2024
18
2
Expectations are clear, and there’s an emphasis on doing things right the first time. Working at this manufacturer has been a career highlight. Management is transparent and approachable, offering ongoing training and professional growth opportunities. Coworkers were helpful, and managers checked in regularly. Workloads can fluctuate significantly during busy periods.
Commented in March 11, 2024
37
1

Penco Tool Inc Overview

Website
www.pencotool.com
Founded In
1962
Employees
<25 employees
Industry
MFG Durable
Headquarter Address
2621 West Ave Ashtabula Ohio OH 44004
Revenue
$5 Million - $10 Million
Phone Number
+1 4409981116
Social Media
About Penco Tool Inc
Penco Tool specializes in the design and manufacture of large aluminum and steel prototype molds, industrial compression molds, injection-compression molds and injection molds up to 20 tons in size. The company provides compression molds for contract molders and OEM's that mold glass reinforced products utilizing mat, preform and sheet molding compound (SMC). Customers use the company's injection

What Benefits Does Penco Tool Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. Penco Tool Inc 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 Cleveland?

Understanding the cost of living near Cleveland is key to truly evaluating a salary offer or your current compensation at Penco Tool Inc.
Cleveland's Cost of Living Index is approximately 77.5 (22.5% less expensive than US average; 14.6% less than OH average). Major city on Lake Erie, medical hub, very affordable housing. RTA bus/rail. When planning your budget based on a salary from Penco Tool Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $850 - $1,300+ A significant portion of Penco Tool Inc salary. Location choices impact this heavily.
Utilities (Basic) $150 - $240 Electricity, Heating, Cooling, Water etc.
Public Transportation $95 (RTA monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $370 - $550 Can be higher with more dining out or specialty stores.
Personal & Leisure $330 - $630+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $360 - $660+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,155 - $3,385+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Penco Tool Inc

1. What is the average salary for employees at Penco Tool Inc?

The average annual total compensation for employees at Penco Tool Inc is approximately $81,852. However, this is an aggregate figure, actual salaries can range significantly, typically from $72,099 to $92,369, depending on factors like job role, experience, and location.

2. How much does Penco Tool Inc pay compared to Industrial Specialties Mfg?

The average annual salary at Penco Tool Inc is $81,852, or an hourly wage of $39, in comparison to Industrial Specialties Mfg which pays $90,449 per year or $43 per hour.

3. What is the lowest salary at Penco Tool Inc?

The lowest-paying job at Penco Tool Inc is an Administrative Assistant with a salary of $39,980 per year. The lowest- paying job depends heavily on the specific role, location, whether it's an hourly or salaried position, and if it's full-time, part-time, or an internship. Generally, entry-level positions might represent the lower end of the pay scale.

4. How does having a professional certification impact salary for relevant roles at Penco Tool Inc?

Professional certifications like PMP (for Project Managers), CPA (for Accountants), or another relevant certification for the industry can often lead to higher salaries and better job prospects at Penco Tool Inc for applicable roles. Certifications demonstrate a verified level of expertise and commitment to a profession, making candidates more competitive.

5. Does Penco Tool Inc offer cost-of-living adjustments (COLA) for employees in high-cost areas like Cleveland?

While some companies offer formal COLA, many, including potentially Penco Tool Inc, incorporate cost of living considerations into their overall salary structure for different locations rather than as a separate, itemized adjustment. This means their base pay bands for roles in high-cost cities like New York City are generally set higher to account for these local market factors.

6. What's the typical process for salary reviews and raises at Penco Tool Inc?

Most companies, likely including Penco Tool Inc, conduct formal salary reviews annually, often tied to performance evaluations. During these reviews, factors like individual performance, meeting goals, company performance, and market adjustments are typically considered for potential salary increases.

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