As of May 18, 2021, the average salary for a Tool Design Engineer V in the United States is $147,684 per year, which breaks down to an hourly rate of $71.
However, a Tool Design Engineer V's salary can vary significantly. Here’s a look at the typical salary range:
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A Tool Design Engineer V's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.
Experience is a primary driver of a Tool Design Engineer V's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Tool Design Engineer II | 2-4 years | $90,699 |
| Tool Design Engineer III | 4-7 years | $103,290 |
| Tool Design Engineer IV | 7+ years | $125,205 |
| Tool Design Engineer V | 7-10 years | $147,684 |
| Tool Design Engineering Manager | 10+ years | $152,980 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Tool Design Engineer Vs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Planning | 7.69% |
| Open Access | 3.85% |
| Feasibility Studies | 1.92% |
Your level of education can impact your salary potential. While many Tool Design Engineer Vs enter the field with a Associate's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Tool Design Engineer V with a Associate's Degree is between $144,485 and $155,884).
Tool Design Engineer V Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 23.1% |
| High School | 23.1% |
| Associates | 34.6% |
| Bachelors | 38.5% |
| Masters | 0.0% |
| Doctorate | 3.8% |
Understanding how a Tool Design Engineer V's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on May 18, 2021For a Tool Design Engineer V, the most direct path to higher earnings is advancing to the Tool Design Engineering Manager role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $152,980 - a projected growth of 4% over your current level.
Salaries for a Tool Design Engineer V can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $146,627 in 2023 to around $144,393 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Tool Design Engineer V salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
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| 2023 | $146,627 |
| 2024 | $146,003 |
| 2025 | $144,393 |
| 2026 |
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| 2027 |
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Compensation PlanningHere are companies hiring for Tool Design Engineer V and their salaries, click below for more details.
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A Tool Design Engineer V's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Tool Design Engineer V earns the most in San Jose, CA, where the annual salary of a Tool Design Engineer V is $186,274.
The highest pay for Tool Design Engineer V is $157,838.
The lowest pay for Tool Design Engineer V is $136,605.
Designs and develops tools and machinery used to facilitate and optimize manufacturing processes. Reviews product design and build requirements to determine tooling concepts, design options, testing plans, and specifications. Develops designs for fixtures, jigs, gauges, cutting and forming tools, carts, racks, and other items to support production. Utilizes Computer-Aided Design (CAD) to create accurate, complete, and concise design models and documentation to fabricate tools. Estimates costs, resource requirements, and materials required for tools. May manage the sourcing, quoting, or procurement of purchased tools. Typically requires a bachelor's degree or equivalent. Typically reports to a supervisor or manager. Works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. Typically requires 10+ years of related experience.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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