With an increasingly competitive job market in the US these days, it’s high time for individuals to pick a workplace that caters to their needs and offers comprehensive benefits. Lockheed Martin is one of them with its flexible schedules, competitive pay, and an encouraging workplace. Let us know more detail about ‘Lockheed Martin Salary Levels’.
Lockheed Martin Salary Levels
It may be pretty challenging to get a job at Lockheed Martin, but the pay ranges are wonderful once you get in. The average estimated salary for a Lockheed Martin employee, including base and bonus, is around $135,597 or $65 per hour. However, this number doesn’t portray the salary structure present at Lockheed Martin with many employees earning much more than the average and some positions with lower salary offerings. We have cumulated a comprehensive list of salaries provided for different positions in Lockheed Martin which is given below.
What Are The Different Salary Levels At Lockheed Martin In Popular Fields?
Most jobs at Lockheed Martin can be categorized into three sections, namely:
- Industrial Engineering
- Installation and Maintenance
- Information Design and Documentation
Being an aerospace defense company, Lockheed Martin focuses on its Industrial engineering positions and has several jobs with competitive salary offerings.
According to multiple reports, the highest salary package for an Industrial Engineering position is that of the Platform Manager at a little over $185000 per year. The lowest salary offered is for the position of Quality Engineer at $177000 per year. Most of the salaries offered for positions in Industrial Engineering positions are above $100k per year. Taking into account the industry average of $76785 according to estimates from Indeed, Lockheed Martin is offering salaries much higher than most firms in this industry.
For jobs in Installation and Maintenance, there are a lot of options for applicants considering the massive scope of operations in Lockheed Martin. While the salaries may not look impressive at first glance, they are quite above the industry average with the highest salary offered for the position of Field Services Engineer at $101,416 per year. The average salary across positions in this category is $64,347 per year according to multiple salary estimates. For the field of Maintenance, this salary average is quite on par with salaries offered by similar firms in the industry.
In Information Design & Documentation, Lockheed Martin offers quite attractive salaries with the highest salary offered for the post of Business Development Analyst at $127,703 per year. Lockheed Martin offers one of the highest average salaries for this field and will be a great choice for anyone thinking of making a career in this field.
Average Lockheed Martin Salaries
The average salary for a Lockheed Martin employee depends a lot on their choice of the field as well as the position they are in. Across all fields and positions, the average salary for a Lockheed Martin employee ranges from $47280 per year for an entry-level administrator to $156231 for F&I Manager. Average hourly pay ranges from $12.52 per hour for a Floor Technician to $65.00 per hour for an Engineering Designer.
Benefits For The Employees Of Lockheed Martin
Being a Government contract company, Lockheed Martin emphasizes giving its Employees a wonderful experience working there and thus has offered many benefits in addition to the base salary. Like most companies, its benefits are quite comprehensive and include specific health, home, financial, and retirement benefits.
For health and wellness, Lockheed Martin employees are given Accidental Death& Dismemberment Insurance, Disability Insurance, Health Insurance, Life Insurance, On-site clinic(with free on-site flu shots, biometric health screenings), Vision Insurance, Paternity Leave as well as Wellness/Gym Reimbursement. Thus employees at Lockheed Martin are given quite a several health-related perks which are attractive to any potential applicant.
Lockheed Martin, being a primary defense contracts company, provides its employees with Military Leave, Relocation Bonus, Paid time off for jury duty as well as an option for Remote Work. Employees will also get company phones for better work-life balance.
In today’s testing times, every employee should look for a good retirement and financial support from their companies. Well, Lockheed Martin provides its employees with multiple financial perks related to the performance of each employee. Employees get regular bonuses for their work ,and there is also a retention bonus for employees offering their services to Lockheed Martin for a consistent period. Employees also get paid holidays on an accrual basis and employee discounts on several products and services. Some employees also get stock options and performance-related bonuses.
For retirement Lockheed Martin has a great 401k match according to reviews from its existing employees. There is also a unique concept of a 9/80 schedule which allows the employees to work 80 hours over 9 days with every other Friday off. It allows staff to choose a work schedule of their comfort and leads to better work-life balance specific for each employee.
Are Employees Of Lockheed Martin Paid Fairly?
According to employee reviews presented on Indeed and levels.fyi, most of the existing workforce of Lockheed Martin feel that they are paid fairly for their work. For overtime, 65% of employees have confirmed that they are paid 1.5 times the regular wage rate for overtime per hour. Considering their salary rates, Lockheed Martin offers wages that are above the industry average accompanied by several perks.
Conclusion
Lockheed Martin provides an impressive salary package to its employees and a great place to work if you are looking to maintain a great work-life balance and get impressive perks (both financial and non-financial). Most of its employees enjoy higher than average salaries and depending on their posts, also get employee stock options. If you searching for a company that takes good care of its employees, Lockheed Martin can be a great choice.
Frequently Asked Questions
- How often does one get raises at Lockheed Martin?
Most employees have confirmed that they get pay raises annually while working at Lockheed Martin.
- Is there paid time off at Lockheed Martin?
Yes, Lockheed Martin does provide vacation days and it is easy to request paid time off.
- Does Lockheed Martin offer any kind of flexibility benefits?
Most Lockheed Martin employees have confirmed that they are offered time flexibility, and some even get to work at remote locations.
