When it comes to location, the highest average paycheck ($125K annually) can be spotted in Minneapolis, Minn.; Boston, Mass. ($107K), Boulder, Colo. ($97K), and New Haven, Conn. (around $85K) are the next top-paying cities. Expected earnings are below average (about $65K) in North Haven, Conn., one of the lowest-paid cities. The highest pay by state can be found in Minnesota, where salaries average out at approximately $113K per year.
Years of Experience
Survey participants who have worked at Covidien for between five and 10 years earn $75K annually on average. The greater proportion of employees (30 percent) report one to four years of experience and bring home median pay of $62K per year.
Nearing the top of the pay scale are Senior Product Development Engineers, Senior Mechanical Engineers, Engineering Project Managers, and Project Coordinators; while the first receives the highest median pay at around $98K annually, the other salaries come in at $97K, approximately $86K, and about $69K, respectively. On the lower end are Medical Devices Quality Engineers at approximately $59K on average.
Certifications and Degrees
Monetary compensation comes to about $114K per year for ASQ Certified Quality Auditors, far surpassing the earnings of non-credentialed workers. Becoming a Certified Six Sigma Black Belt can certainly pay off here; those folks make $110K on average. Employees who have a Master of Business Administration (MBA), Finance make the most here, hauling in $130K annually.
The highest-paying skill in this position seems to be Product Development; individuals who report it as part of the repertoire have a median income of around $99K per year. A relatively widespread skill at Covidien is Project Management; somewhere between a fifth and a fourth of employees use it for work. Key skills also include Microsoft Office, Microsoft Excel, and Engineering Design.
Benefits and Perks
Paid time off is scarce, with only about 37 percent receiving paid vacation and just under one-fifth of workers receiving sick leave. The vast majority of workers contribute to 401(k) savings accounts sponsored by the firm. A large number of workers can count on health insurance, and a large number of respondents have dental coverage as a benefit. Covidien employees also enjoy perks such as a stock purchase plan, life insurance, a subsidized cell phone, and tuition reimbursement.