When it comes to location, the highest average paycheck ($129K annually) can be spotted in Novi, Mich.; Troy, Mich. (about $73K), Carrollton, Ga. ($70K), and Louisville, Ky. (around $69K) are the next top-paying cities. High paychecks are not found in Howell, Mich.; in fact, at $50K it is one of the worst-paid cities. Across its U.S. offices, the state of Alabama pays Magna International the most — approximately $93K per year on average.
Years of Experience
Five to nine years of work experience seem to result in median wages of about $75K annually. When we consider tenure, a substantial portion of employees (27 percent) have been working for one to four years and make $62K per year on average.
Nearing the top of the pay scale are Human Resources Managers, Product Engineers, Process Engineers, and Packaging Engineers; while the first receives the highest median pay at $88K annually, the other salaries come in at $70K, approximately $66K, and around $63K, respectively. Financial compensation for Executive Assistants is rather low — on average only $56K — relative to the rest of the company.
Certifications and Degrees
Being a Professional Engineer License Holder certainly has its perks — salaries approach approximately $82K per year and far exceed the paychecks of those without certification. Engineer in Trainings also rank high on the pay scale, with expected average earnings of $80K annually. Magna International provides the highest financial reward to those with a Bachelor of Science in Human Resources Management (HRM) — these employees rake in $83K per year.
In this position, it pays to have Program Management in your toolkit; employees who claim proficiency enjoy a higher median salary of around $108K annually. It's pretty common to find people here who know Microsoft Office; nearly one in four consider it a key competency. Engineering Design, Microsoft Excel, and Project Management are also desirable skills.
Benefits and Perks
As part of compensation, Magna International gives paid vacation to one in three workers and paid sick leave to one in eight employees. Most workers save for retirement through Magna International's 401(k) plan. Magna International provides health insurance to almost all employees, and a large number of workers do receive dental coverage. Other privileges include a subsidized cell phone, life insurance, a casual working environment, and tuition reimbursement.