The ex-GE boy genius received a 28% increase in compensation last year. I’m so glad I was able to help contribute by taking only a 2% raise, like everybody else.
I’m sure his compensation package increases more after he lays off everyone.
11 replies (most recent on top)
Geoff sure did change the Medtronic culture and destroyed the Mission along the way. Attention Walmart shoppers, cleanup in level 4.
You gotta give Martha a break. His MIP rate is 100% so he's out way more than any other employee if you disregard the rest of the +$20 million he gets in base salary and a half dozen other incentive programs.
Shame on the Board of Directors for allowing this!
20 year field veteran. Base was cut in the 2008 recession, and haven't received a raise since. Compensation continues to transition to over-plan dollars with totally unrealistic goals. I work harder than I ever have and my annual comp continues to fall.
Not to mention that the MIP is far too complicated.
The 2% raise has been in place since the Great Recession in 2008! Before that, the budget was 6-8%.
Medtronic stopped caring about employees in 2006.
Since then, there hasn’t been a year without layoffs.
If you can leave- I recommend you leave as soon as you can.
Thank you for your contributions to Geoff’s corporate jet gas fund. That clown who probably hasn’t taken a science class in his life was telling everyone in the town hall that he is not like a professor with an edu email address who is paid to do nothing
Geoff, Sally, that attention seeking 12 year old lookin' GI CMO id--t,, Que, Noel "the boss baby" Colon....all these useless toolbags need to get kicked out if this company is gonna have any future
It's all about sharehol-er...uh, patient care!
Maybe we should break it down.
Geoffrey's compensation grew from $4M in 2020 to $16.5M in 2022.
What about OUR pay? Well, they ki-led the 2% bump in 2020 supposedly due to the pandemic (despite INCREASING dividends for shareholders, so that really shows where the execs and boards hearts lie), and then we got basic 2% bumps in 2021 and 2022. Not even an extra point or two to make up for inflation that has knocked about 10-15% off our purchasing power. Don't talk about 3% bumps because it's incredibly rare for someone to get "Exceed" enough to warrant that. Exceeding Expectations is simply the meeting expectations.
So Geoffy got a 413% pay bump while the rest of us normies got...4%.
Well, if your performance is rated as achieve, they have policies where you can’t get more than 2%. No matter how challenging the goal you set for yourself might have been. First, rate yourself as exceed.
Managers get in trouble if they rate too many people exceed.
Guys let's not pretend like 2% was a raise lol. Everyone took a 7% pay reduction so this a--hole Martha could get his 20%. Inflation was 9% last year.
I've been here under two years, and I was shocked when I got two percent. Never in my career have I received an increase that small. Do they really think that's market competitive?!?! NO WAY!