Years of Experience
Those who have five to nine years of work experience see average salaries of around $86K annually. Broken down by tenure, the largest share of Medtronic, Inc. employees (33 percent) have one to four years of experience and earn $69K per year on average.
When it comes to location, the highest average paycheck ($118K annually) can be spotted in Santa Rosa, Calif.; Minneapolis, Minn. (about $93K), Irvine, Calif. ($85K), and Los Angeles, Calif. (approximately $84K) are the next top-paying cities. Those interested in increasing earning potential should avoid the city of Memphis, Tenn. — at around $71K, salaries are some of the lowest in the country. By state, the highest compensation levels appear in California, where the average salary is about $89K per year.
Senior Research & Development (R&D) Engineers rake in the most money, with average earnings of $100K annually; Senior Systems Engineers come in second with average earnings amounting to $99K, while Medical Devices Quality Engineers and Biomedical Engineers rank near the top as well (approximately $81K and $80K, respectively). Medical Device Sales Representatives make an average $57K, close to the bottom of the company pay scale.
Certifications and Degrees
Certified Six Sigma Black Belts are compensated at a much higher rate than non-authorized workers, bringing in close to about $117K per year. Earning a Project Management Professional certification garners significant financial rewards of approximately $115K annually on average. At Medtronic, Inc., employees who hold a Master of Business Administration (MBA), Marketing receive the highest salaries at around $112K.
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 per year. Project Management is a popular skill among Medtronic, Inc. workers, with one in five of those surveyed reporting using it on the job. Other skills in demand are Engineering Design, Microsoft Excel, and Data Analysis.
Benefits and Perks
Only 28 percent at Medtronic, Inc. enjoy paid vacation time, and just one-seventh of survey participants can take sick leave. To plan for old age, most survey participants maintain savings accounts through the company's 401(k) plan. Medtronic, Inc. provides health insurance to nearly all employees, and most respondents do receive dental coverage. Medtronic, Inc. also dishes out privileges such as a stock purchase plan, life insurance, tuition reimbursement, and a casual working environment.