Fastenal is a reputable American company that specializes in the distribution of industrial and construction-related supplies, including fasteners, safety equipment, tools, and more. As a significant player in the industry, it has over 2,500 stores globally and employs thousands of people. If you are curious about Fastenal salaries and what employees make, this article has got you covered.
Understanding the Company and Its Operations
Before delving into the specifics of what Fastenal employees earn, it's essential to understand the company's operations. Fastenal operates in the wholesale distribution segment of the industry, focusing on selling products to end markets, including manufacturers, construction, and mining companies.
The company operates through a network of branches that allow customers to purchase products in-person, by phone, or online. As a result, Fastenal has a mix of employees working across different levels, including corporate personnel, sales representatives, warehouse staff, and more.
What Do Fastenal Employees Do?
The roles and responsibilities of Fastenal employees vary depending on the position held. Some of the common job titles in the company include:
- Sales Associate: This is the entry-level position where employees deal with customers, answer queries, process orders, and promote the company's products.
- Store Manager: The store manager oversees the operations of a particular store, ensuring that it meets its financial targets, maintains optimal inventory levels, and coaches and develops the staff.
- Regional Manager: As the name suggests, a regional manager oversees multiple stores in their geographic location, sets sales targets, monitors product mix and pricing, and handles staffing and financial matters.
- Support Center Staff: This group includes staff working in functional areas such as accounting, human resources, marketing, sales leadership, and more.
How Much Do Fastenal Sales Associates Make?
As an entry-level position, the salary range for Fastenal Sales Associates is generally on the lower side. According to data from Glassdoor, the average hourly pay for a Fastenal Sales Associate is approximately $13.14, with a range between $10-$17.
This pay range is at par with what industry peers pay for similar positions. However, Fastenal provides eligible employees with a benefits package that includes health insurance, 401(K) plan, flexible spending account, and paid time off.
What is the Average Salary for Fastenal Store Managers?
Fastenal store managers are responsible for overseeing the operations of a single store, carrying out tasks such as monitoring inventory levels, setting sales targets, coaching and developing the staff, and ensuring that the store achieves its financial targets. Fastenal values its store managers' input, investing in their development and offering them an attractive compensation package.
According to data from PayScale, the average salary for a Fastenal Store Manager is approximately $45,000 per year, with a range between $31k-$73k. The salary is commensurate with the experience, qualifications, and location of the store.
Fastenal Store Managers also enjoy benefits such as health insurance, paid time off, flexible spending accounts, and a 401(K) plan.
What is the Salary Range for Fastenal Regional Managers?
Regional Managers are responsible for overseeing several Fastenal stores within a defined geographic area, leading a team of store managers to achieve sales goals, provide excellent customer service, and establish profitable relationships with customers.
According to Glassdoor, the average salary for a Fastenal Regional Manager is $70,225 per year, ranging between $48,000-$107,000. The pay range is commensurate with experience, location, and qualifications.
Fastenal provides Regional Managers with a comprehensive benefits package, including health insurance, a 401(K) plan, paid time off, and flexible spending accounts, among others.
Compensation for Fastenal Support Center Staff
Fastenal support staff includes employees working in functional areas such as accounting, human resources, marketing, and customer service. As with other positions, the salary range varies depending on experience, qualifications, and location.
According to data from PayScale, the average salary for a Fastenal Customer Services Representative (CSR) is approximately $39,000 annually, ranging between $28k-$54k. The average salary for marketing staff is $60,000, while human resource professionals receive an average pay of $54,000.
Fastenal support staff also receive benefits such as health insurance, a 401(K) plan, paid time off, and flexible spending accounts, among other perks.
In conclusion, Fastenal offers its employees an attractive compensation package comprising a fair salary, benefits, and opportunities for growth and development. While salaries vary depending on experience, qualifications, position, and location, Fastenal values its employees and strives to create a healthy work environment that makes them feel appreciated and motivated to excel..