Prem Magnetics Inc Salary

Prem Magnetics Inc Salary

How much does the Prem Magnetics Inc Pay for employees?

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As of August 2026, the average annual salary for employees at Prem Magnetics Inc in the United States is $88,044. This translates to an approximate hourly wage of $42. Salaries at Prem Magnetics Inc typically range from $77,551 to $99,344 annually, reflecting the diverse roles and experience levels within the company. Prem Magnetics 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 Prem Magnetics Inc Pay for Different Roles?

Explore detailed salary information for specific jobs at Prem Magnetics 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.
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Current Job Openings at Prem Magnetics Inc

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

Is Prem Magnetics Inc’s Pay Competitive? Salary Benchmarking Analysis

How does Prem Magnetics 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
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Average Salary ($/year)
Prem Magnetics Inc
MFG Durable
Lone Star Stone Inc
Concreteworks East
Industry Comparison
Our data shows that, on average, compensation at Prem Magnetics Inc is below the average for the U.S. MFG Durable industry by approximately 28%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared Prem Magnetics Inc average annual salary with several similar companies. Prem Magnetics Inc average salary of $88,044 is higher than Lone Star Stone Inc, which has an average salary of $79,237. It is lower than Concreteworks East, with their average salary at $103,423. This places Prem Magnetics Inc 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 Prem Magnetics Inc's Salaries Compare to Similar Companies?

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

Employee Reviews: Working at Prem Magnetics Inc

Considering a career at Prem Magnetics 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.
Work can be repetitive depending on department. Safety culture is exceptional - incidents are rare and always used as learning opportunities. The competitive wages and comprehensive benefits package show how much the company values its workforce. Shift work takes adjustment. A great example of how manufacturing should be managed at this scale. Shift schedules vary, sometimes impacting work-life ba...
Commented in February 15, 2025
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3
Management genuinely cares about its employees, fostering a supportive and respectful environment. Clear communication from leadership fosters trust and transparency. This company has cultivated an excellent work culture where employees feel genuinely supported and appreciated. The experienced workforce maintains time-tested quality standards while adopting the latest smart manufacturing technolog...
Commented in February 01, 2025
47
0
It’s a decent place for steady but unremarkable work. The workplace fosters respect, inclusion, and teamwork. Benefits are decent, including health insurance and retirement plans.
Commented in February 29, 2024
38
1

Prem Magnetics Inc Overview

Website
www.premmagnetics.com
Founded In
1972
Employees
<25 employees
Industry
MFG Durable
Headquarter Address
3521 Chapel Hill Rd Johnsburg Illinois IL 60050
Revenue
$5 Million - $10 Million
Phone Number
+1 8153852700
Social Media
About Prem Magnetics Inc
At Prem Magnetics, we manufacture only the highest quality standard and custom transformers and inductors, just as we have done for over 35 years. We 100% Test each part we manufacture, which means we guarantee you will receive Zero Defects. If you have any questions or comments regarding our quality procedures, please contact our Quality Control Manager here.

What Benefits Does Prem Magnetics Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. Prem Magnetics 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 Chicago?

Understanding the cost of living near Chicago is key to truly evaluating a salary offer or your current compensation at Prem Magnetics Inc.
Chicago's Cost of Living Index is approximately 106.9 (6.9% more expensive than US average; 14.0% more than IL average). Major US city, housing varies greatly by neighborhood but can be high, extensive CTA transit. When planning your budget based on a salary from Prem Magnetics Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,700 - $2,600+ A significant portion of Prem Magnetics Inc salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $105 (CTA 30-day pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $430 - $640 Can be higher with more dining out or specialty stores.
Personal & Leisure $450 - $800+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $400 - $750+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $3,225 - $5,025+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Prem Magnetics Inc

1. What is the typical salary range (low to high) for most roles at Prem Magnetics Inc?

The typical annual salary range for most roles at Prem Magnetics Inc is approximately from $77,551 to $99,344. 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. How much does Prem Magnetics Inc pay compared to Lone Star Stone Inc?

The average annual salary at Prem Magnetics Inc is $88,044, or an hourly wage of $42, in comparison to Lone Star Stone Inc which pays $79,237 per year or $38 per hour.

3. Do salaries differ significantly between departments at Prem Magnetics Inc?

Yes, salaries often differ between departments at Prem Magnetics Inc due to varying market demand for specific skill sets and the nature of the roles. For example, technical roles in Engineering or IT may command different salary ranges compared to roles in Marketing or Human Resources.

4. How does experience level affect salary at Prem Magnetics Inc?

Experience level is a significant factor in determining salary at Prem Magnetics Inc, as it is with most employers. Generally, employees with more years of relevant experience and a proven track record can command higher salaries. For example, a senior-level role will typically have a higher pay band than an entry-level or mid-career position within the same job family.

5. How can I determine if a salary offer from Prem Magnetics Inc in Chicago is fair given the local cost of living?

To determine if a salary offer from Prem Magnetics Inc in Chicago is fair, first compare the gross salary to our data for similar roles at Prem Magnetics Inc and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Chicago" to understand its purchasing power.

6. Why might an individual's actual salary at Prem Magnetics Inc differ from the ranges shown here?

An individual's actual salary at Prem Magnetics Inc can differ from our estimated ranges due to various factors. These include their specific years of experience in the role, unique skills or certifications, educational background, performance record, the specific team or department they join, negotiation outcomes, and even the precise timing of when they were hired relative to market fluctuations. Our ranges represent typical compensation.

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