Years of Experience
Respondents who have been working for five to nine years make around $78K per year on average. Broken down by tenure, the largest share of Covidien employees (33 percent) have one to four years of experience and earn $63K annually on average.
When it comes to location, the highest average paycheck (about $97K per year) can be spotted in Boulder, Colo.; Boston, Mass. (approximately $89K), New Haven, Conn. ($80K), and Irvine, Calif. ($80K) are the next top-paying cities. Approaching the lower end of the pay scale (at about $61K) is Atlanta, Ga. By state, Covidien pays its Minnesota employees the most; the pay rate there is $110K annually.
Senior Product Development Engineers earn the highest median pay at around $98K per year, followed by Senior Mechanical Engineers ($96K), Senior Process Engineers ($90K), and Engineering Project Managers (approximately $86K). Financial compensation for Product Development Engineers is rather low — on average only $63K — relative to the rest of the company.
Certifications and Degrees
Certified SolidWorks Professionals earn about $111K annually, far more than their non-accredited counterparts. On average, salaries rise to approximately $106K per year for accredited ASQ Certified Quality Auditors. The highest-paying degree here is a Master of Business Administration (MBA), Business Administration; Covidien awards $119K to these degree-holders.
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 $98K annually. Project Management is a popular skill in the Covidien workforce; about one in five of those surveyed report putting it to use in their jobs. Other top skills include Engineering Design, Data Analysis, and Microsoft Office.
Benefits and Perks
The benefits packages at Covidien can sometimes lack paid time off; 45 percent get paid vacation days, and one in four workers receive paid sick leave. For employees looking to save up for their golden years, Covidien provides an optional 401(k) plan, and almost all survey participants participate. Health insurance is part of the package for most workers, and for a large number of survey participants, dental coverage is too. Privileges also include a stock purchase plan, life insurance, tuition reimbursement, and a company cell phone.