I received a Pr. Engineer offer from Medtronic but am hesitant after reading this board. Im a S. Engineer currently with 7yrs experience. The salary offered is a small increase, but it sounds like my 401k match and paid holidays will decrease. My current company matches 8% into 401k. We have two company shutdowns - the week of July 4th and the other the week of Christmas. We don’t use our own PTO for the shutdowns. HR at Medtronic made it sound like we use our PTO for shutdowns. Is that true?
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Run for the hills.
Don't let these people scare you. Take the job, work your bu-t off, make that Principal money, pad your resume, and leave for a better opportunity.
You can expect 2% annual raises going forward unless you accomplish something spectacular, which is very rare for most people. As a principal there’s not much room for advancement if you continue with engineering track. Will take a long time to get to the next level like senior principal and you will need to be exceptional to get it. Mandatory time off for Christmas, and you have till mid April to use or lose all your vacation time from the previous year. There is a trend to send programming, IT, and other work to India or other cheap locations as much as possible.
boy do not accept. layoff is a cyclical thing here like 4 seasons and it will repeat next quarter or definite by next year.
You should try to push your offer to the higher end of the salary band and then make the final decision. I think it’s max ~$180k for principal. Could be worth it. Then again you may find that the money is not as green as you thought it was. Be prepared to work hard.
If it is isn't a sure step up, I wouldn't even consider it. But knowing what I know from being on the inside, it would have to be a HUGE step up from my current situation and then it would be a coin flip.
Retired HR Here- Don’t make the move to medtronic- especially not into manufacturing. Manufacturing has so much turnover and a shortage of workers- you will be run ragged.
As all have posted- PTO at the shutdown is mandatory m, many engineers are too busy to take PTO-and end up losing it.
If you have always wanted to work for GE
Or Target -medtronic has the similar cultures. All the HR people are either from Target or GE. There is no CHRO- HR is les by communications. Excom does not care about employees- only their bonuses.
Sadly - the Medtronic that Earl Bakken built is long gone.
Mandatory PTO at the end of the year comes out of your own PTO.
And like the others have posted, you should not expect any big raises. If you can't negotiate for a larger salary you might be able to negotiate for more vacation time, but then again, you might get too busy to take that vacation.
If you're working on a project, you may see your budget cut or frozen as you get closer to the end of every quarter. Then there are the regular travel freezes every quarter. You want or need training? Take it as soon as can or it will be cut.
If you have to partner with IT on a project that involves any level of complexity or attention to detail you can expect mistakes, misunderstandings, and long delays.
If you are coming from an environment like that, then you'll do well. If you're used to things running smoothly, then maybe a lateral move to MDT might not be the way to go.
Medtronic wants to be a top talent destination with a 2% merit increase.
Ask for more money. 20% more.
Definitely agree with a lot of the folks here. However, don't expect an unbiased opinion here. That's like asking reddit if they plan to vote republican in the next election.
I would recommend trying to negotiate to around mid-point of the band. It's unlikely you will ever get more than a 2-3% increase. The base pay band is available on Medtronic's website. You can also cross check with the h1b1 salary database.
Wait until the leadership clown show is over unless you’re getting a 30% increase in salary. It’s a hot mess.
I would negotiate for more money if you want to jump over here. Yes, 2% -3% yearly pay raise is small, but a higher salary will negate that.
Benefits keep getting cut and raises are far behind inflation.
Effectively you’re losing days off, a much lower 401k match and an effective salary decrease every year.
But commute and other factors may balance these out
Sr. Software Engineer here, I joined 3 years ago and looking to leave. The pto is 20 days with 11 paid holidays. You will be required to take three days of pto for the company shutdown. There is a annual bonus and 3% additional 401k match that is based on company performance. This year the company missed the eps target so no bonus or additional 401k match, so the 401k match will be 3% this year. The 401k vesting period is also 3 years. There's also a huge push to get teams in the office more despite there being not enough space or equipment available. The stock price is significantly low too.
Don't do it. Been here 18 months and regret it. To make them squirm.... Ask what annual merit amount is as well as incentive payout rates the last two years lol
You will likely end up with less 401(k) match. The math is somewhat fuzzy, but it’s basically 3% all year long, plus 3% lump sum each June, and potentially some discretionary on top of it.
MDT shutdown is only the week between Christmas and New Year. You will need to use 3-4 days of PTO to cover, it’s not paid.
Everyone’s situation is different, but I wouldn’t advise making any jump for a small salary increase, let alone a jump to
Medtronic. Once you’re in, you’re stuck at 2% increase a year unless you’re promoted, which is harder and harder to come by.
You’re better off waiting to make a move for a bigger increase to a company in better shape than Medtronic is in these days.
Depends from where are you moving from?
401k match was 6% of the contributions this year, although it was more than that the last few years. You are expected to use PTO for the year end break
I would say stay away atleast until the current executive committee along with Geoff is kicked out. Things are not going well over the last 2-3 years.