Marketing Directors represent the higher end of the earnings spectrum — in fact, median pay for this job is the highest at $150K — though Senior Mechanical Engineers, Medical Devices Quality Engineers, and Product Development Engineers also do fairly well at approximately $93K, $74K, and $66K, respectively. On the lower end are Sales Operations Analysts at around $50K.
Years of Experience
Those who have five to nine years of work experience see an average salaries of about $71K. The largest slice of the Covidien workforce (30 percent) has been working for one to four years and earns $59K per year.
Median pay is highest in Boulder (around $92K annually), followed by Boston ($87K), Irvine (approximately $77K), and New Haven ($75K). North Haven ranks low on the pay scale — at about $63K, it is one of the lowest-paid cities. Across its U.S. offices, the state of Minnesota pays Covidien the most — $100K per year on average.
Certifications and Degrees
Project Management Professionals are compensated at a much higher rate than non-authorized workers, bringing in close to $116K. ASQ Certified Quality Auditors with credentials can live quite comfortably; salaries come in at around $96K annually. Regarding salaries and education, Covidien pays those with a Doctorate (PhD) the most — approximately $118K.
The highest-paying skill to have in this role seems to be Product Development; employees claiming this as part of the toolbox earn a median of about $91K. Project Management also popped up often in the survey as an important skill; between a fifth and a fourth of employees surveyed report using it at work. Microsoft Excel, Microsoft Office, and Engineering Design round out the set of key employee skills.
Benefits and Perks
Only 45 percent at Covidien enjoy paid vacation time, and just a quarter of workers can take sick leave. To plan for old age, the vast majority of workers maintain savings accounts through the company's 401(k) plan. At Covidien, a solid majority of workers have health insurance, and a strong majority of workers have dental coverage. The list of perks also includes a stock purchase plan, life insurance, tuition reimbursement, and a company cell phone.