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Injection molding industry salary survey 20026

January 9, 2003

9 Min Read
Injection molding industry salary survey

2002salary300.gifThis is the second salary survey IMM has conducted, making it an annual event. In September and October we sent out 1300 surveys and received 507 usable responses, for a response rate of 39 percent. The results presented here are based on the 440 responses received from those who indicated they work full time at a molding facility, for a design firm, for a mold designer, or for a moldmaker. The margin of error for percentages is ±4.6 percent at a 95 percent confidence level.

Last year we reported that the mean salary in the injection molding industry was $70,600. The 2002 mean salary grew 4 percent to $73,600. Based on this data, a typical respondent is a 45-year-old male college graduate who’s been in the industry 18 years and with his current employer at least 10 years. If he got a raise in 2002 it was 5.9 percent, and he has a 401(k) retirement plan. His employer is a custom or captive molder, has 155 employees, and reported sales last year of $20 million.

To help put these numbers in perspective, IMM’s Clare Goldsberry spoke with three members of the molding community—a president, a project engineer, and a QA manager—for their views on job satisfaction, compensation, and important trends for the coming year.

 

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salProf200.gif‘The auto industry is very economy dependent. I have seen my pay cut 30 percent in the last two years and am required to work overtime with absolutely no compensation or comp time. I expect it to continue or get worse. If you can find me another job, let me know!’
—Anonymous survey respondent

What industry trends do you believe will affect your compensation during the next year?

  • 29 percent: The economy (up or down)   

  • 27 percent: Jobs going offshore   

  • 9 percent: Changes in the auto industry   

  • To calculate your own salary, visit the salary survey calculator.

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