Does anyone else feel like the salary here is kind of a joke? They have done little to nothing to keep up with inflation. I don't see a path to achieve my financial goals at Medtronic.
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What do you expect when your mandated to keep spend literally flat YoY. Merit must be offset by savings.... What are we, dollar general?
@1dhe+1okBKCHT, It depends on your role, experience, and local job market.
It's not that bad, it's just inflation is ki-ling everyone
For benchmarking, was part of RIF in April. Got a job, more autonomy and 24% total comp increase (8% increase on base). Definitely better than the 2% MDT gave out.
Lets just say I moved to government for better benefits, better pay, and less responsibilities than MDT and I used to have rosy glasses that MDT was my "forever" company. It wasn't until I left that I realized how abusive the relationship was.
Yea MDT might be a bit low on salaries but other companies are even bad ( at least in this market). Yea a few companies do exist who pay higher but all I am saying is that's not the majority.
I agree with everyone here,l. I would just recommend moving on to another company
Promotions are your best chance to increase your pay, but they are very difficult to get here. Plus, Medtronic's performance has been bad for the last couple of years, so the budget might not be available.
I thought MDT was my forever company until I found out about my pay band. I was in my role for two years and bugged my manager for months about my compensation range. When I finally got it, I was only being paid 6% more than a person with zero experience/lowest pay. I’d recommend either searching for a new job with better or to leave then come back at a higher pay/title. I got a 15% raise when I switched companies at the time for a similar position but that might not be possible in today’s market.
Best chance at getting good pay is during a promotion or when you first start at medtronic - it’s the only time you can really negotiate. Pay bands are available for any posted jobs on the internal portal and minimum is 80% of the pay band, maximum is 120%. The minimum of a pay band is usually 100% of the pay band for the level below it.
You can ask your manager for it. They have to discuss it with you if you ask.
OP here - Does anyone know where to retrieve information about roles and there salary bands?