When it comes to location, the highest average paycheck ($125K annually) can be spotted in Minneapolis, Minn.; Boulder, Colo. ($97K), Boston, Mass. (approximately $89K), and Irvine, Calif. (around $83K) are the next top-paying cities. High paychecks are not found in Mansfield, Mass.; in fact, at about $62K it is one of the worst-paid cities. U.S. pay levels are highest in the state of Minnesota; salaries there average to $110K per year.
Years of Experience
Respondents who have been working for five to nine years make $78K annually on average. The largest fraction of Covidien people (33 percent) have been working for one to four years and earn $62K per year on average.
Senior Product Development Engineers are the best paid with the average salary hovering at around $98K annually; Senior Mechanical Engineers, Senior Process Engineers, and Quality Assurance Analysts also rank near the top of the list, pulling in $96K, about $90K, and approximately $68K, respectively. On the lower end are Product Development Engineers at $63K on average.
Certifications and Degrees
Certified SolidWorks Professionals earn around $111K per year, far more than their non-accredited counterparts. Certified Six Sigma Black Belts also rank high on the pay scale, with expected average earnings of about $102K annually. Covidien workers who hold a Doctorate (PhD) are also well compensated, earning $118K on average.
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 approximately $98K per year. Folks here also tend to know Project Management; on the survey, about one in five of workers named it in their skills portfolios. Many workers are also familiar with Data Analysis, Engineering Design, and Microsoft Excel.
Benefits and Perks
Paid time off is scarce, with only about 45 percent receiving paid vacation and just over one in five workers receiving sick leave. A 401(k) program is available, and the vast majority of respondents use it to save for retirement. At Covidien, most respondents have health insurance, and most survey participants have dental coverage. Privileges also include a stock purchase plan, life insurance, tuition reimbursement, and a subsidized cell phone.