When it comes to location, the highest average paycheck ($120K annually) can be spotted in Minneapolis, Minn.; Boulder, Colo. (around $97K), Boston, Mass. ($92K), and New Haven, Conn. (about $80K) are the next top-paying cities. Approaching the lower end of the pay scale (at $64K) is North Haven, Conn. Pay rates in the United States are highest in the state of Minnesota, where they average to approximately $113K per year.
Years of Experience
Survey participants who have worked at Covidien for between five and 10 years earn $76K annually on average. The greater proportion of employees (31 percent) report one to four years of experience and bring home median pay of about $62K per year.
Earning around $98K annually on average, Senior Product Development Engineers receive the most money, followed by Senior Mechanical Engineers ($96K), Engineering Project Managers ($86K), and Medical Devices Quality Engineers (approximately $74K). Earning only $66K on average, Product Development Engineers make less than most people in the company.
Certifications and Degrees
Monetary compensation comes to about $111K per year for Certified SolidWorks Professionals, far surpassing the earnings of non-credentialed workers. Earning a Certified Six Sigma Black Belt certification garners significant financial rewards of approximately $102K annually on average. Employees who have a Doctorate (PhD) make the most here, hauling in $118K per year.
In this role, the best-paying skill appears to be Product Development; individuals who claim it among their capabilities enjoy a higher median salary of around $96K annually. A relatively widespread skill at Covidien is Project Management; slightly less than a fourth of employees use it for work. Other skills in demand are Microsoft Excel, Microsoft Office, and Data Analysis.
Benefits and Perks
Paid time off is hard to come by at Covidien; the company rewards only half of workers with paid vacation time and only 22 percent with sick leave. The vast majority of workers report contributing to a 401(k). For a large number of employees, benefits include health insurance, and most survey participants get dental coverage, too. A few more workplace perks are a stock purchase plan, life insurance, tuition reimbursement, and a subsidized cell phone.