When it comes to location, the highest average paycheck (approximately $117K per year) can be spotted in Novi, Mich.; Toledo, Ohio ($86K), Troy, Mich. (around $85K), and Auburn Hills, Mich. ($84K) are the next top-paying cities. Expected earnings are below average ($63K) in Holland, Mich., one of the lowest-paid cities. By state, Magna International employees make the most in Michigan, earning about $81K annually on average.
Manufacturing Production Managers are awarded the highest paychecks, with compensation nearing $93K per year on average; Software Engineers are next on the list, bringing in close to around $92K, followed by Process Engineers earning approximately $65K and Packaging Engineers making about $64K. Production Supervisors at Magna International do not see much in the way of financial compensation and represent one of the lower-paid positions ($59K on average) at the company.
Years of Experience
For those who claim five to nine years of work experience, pay on average amounts to $82K annually. For those with one to four years of experience, median paychecks reach about $60K per year. The greater proportion of employees (30 percent) report 10-19 years of experience and bring home median pay of approximately $81K annually.
Certifications and Degrees
Being an Engineer in Training certainly has its perks — salaries approach $80K per year and far exceed the paychecks of those without certification. Acquiring certification to be a OSHA Forklift Operator Certification is rewarded with median pay of $78K annually. Employees who have a Bachelor of Science in Bachelor of Science (BS / BSc) make the most here, hauling in around $87K per year.
When it comes to skills, Leadership seems to bolster pay the most; employees who claim proficiency also enjoy a median income of $95K annually. A skill that is commonly seen around here is Microsoft Office; one in five deem it necessary for work. Other top skills include Project Management, Quality Assurance / Quality Control, and Engineering Design.
Benefits and Perks
Magna International lets only 42 percent take paid vacation and only one in eight respondents take sick leave. A large number of respondents report contributing to a 401(k). Health insurance comes as part of the deal for most workers, and a large number of survey participants report receiving dental coverage as well. Employees can also look forward to a company cell phone, life insurance, tuition reimbursement, and a casual working environment.