When it comes to location, the highest average paycheck (around $104K per year) can be spotted in Boulder, Colo.; Minneapolis, Minn. (about $100K), New Haven, Conn. ($80K), and Irvine, Calif. ($70K) are the next top-paying cities. Greenwood, S.C. ranks low on the pay scale — at $42K, it is one of the lowest-paid cities. The highest pay by state can be found in Colorado, where salaries average out at approximately $98K annually.
Years of Experience
Survey participants who have worked at Covidien for between five and 10 years earn around $73K per year on average. Workers who have been with the company for more than one year but less than five can make approximately $61K annually on average. The largest slice of the Covidien workforce (33 percent) has been working for 10-19 years and earns, on average, $94K per year.
The highest average salaries go to Senior Software Engineers, who bring in close to $108K annually, though Senior Product Development Engineers are not far behind at about $98K along with Senior Mechanical Engineers ($95K) and Medical Device Sales Representatives ($75K). Covidien hands out some of the smallest paychecks to Product Development Engineers (around $61K on average).
Certifications and Degrees
ASQ Certified Quality Auditors earn about $120K per year, far more than their non-accredited counterparts. Earning a Certified Six Sigma Black Belt certification garners significant financial rewards of approximately $110K annually on average. Those with a Master of Business Administration (MBA), Business Administration at Covidien come out on top, and their salaries approach $105K 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 $95K annually. Microsoft Office is a popular skill among Covidien workers, with close to a fifth of those surveyed reporting using it on the job. Project Management, Data Analysis, and Microsoft Excel are also desirable skills.
Benefits and Perks
Nearly all workers allocate some part of their earnings to the company-sponsored 401(k) savings plan. A large number of respondents can count on health insurance, and a strong majority of respondents have dental coverage as a benefit. Other privileges include a stock purchase plan, life insurance, a company cell phone, a casual working environment, and tuition reimbursement.