Medtronic Employee Benefits and Perks | Glassdoor

Medtronic Benefits

395 Ratings

Employee Benefit Reviews

Showing 1–10 of 395 comments

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  • Health Insurance  (121 comments)

    “Used to be the best, but once Omar showed up they went downhill. Obamacare did some damage too. ALL High Deductible plans. You need to have serious...”

  • 401K Plan  (74 comments)

    “LOL, they royally screwed us on this this year by leaving Vanguard funds to create their own crap funds. We do get a company wide performance based...”

  • Vacation & Paid Time Off  (60 comments)

    “20 days for a new hire entering at an associate level? Unheard of!”

  • Nov 06, 2018
    StarStarStarStarStar Current Employee in Minneapolis, Minnesota

    As a Co-op we don't get any benefits.

  • Nov 02, 2018
    StarStarStarStarStar Current Employee in North Haven, Connecticut

    Best: The minimum number of days off (when entering the company full-time) is 20 days! Worst: There is only one basic vision plan.

  • Oct 26, 2018
    StarStarStarStarStar Current Employee in Irvine, California

    Solid benefits. The ESPP program and 401k is fairly standard. Good healthcare coverage, but can be expensive. Good selection of healthcare plans to suit the needs of different people/families.

  • Sep 26, 2018
    StarStarStarStarStar Current Employee in San Jose, California

    Benefits for new hires: -20 days PTO. Given 5 days in January and accrue 15 throughout the year. After 4 years you get 25 days, after 14 years you get 30 days. Every 5th anniversary, you're given a bonus week. Mandatory shut down between Christmas and New years (3-4 days PTO if you want to be paid). PTO includes vacation, sick time, personal days, etc. -10 paid holidays -delta dental - 2 plans. I think $5-$10/paycheck -in California there's 3 health plans. The lowest is the HDHP which is (for a single person) $30ish/paycheck and the highest is the PPO plan at $60ish/paychecks. There's also a Kaiser HMO in the middle. If you have the HDHP Medtronic will contribute to your HSA (I think $500). -there's optional life and disability insurance in addition to what they already provide -decent short term disability And maternity leave from what I understand -tuition reimbursement program up to federal allowable levels (and not be taxed) -a lot of these comments don't seem to know how the 401k works currently so here: Medtronic matches $.50 for every $1 the employee contributes up to 6% of the employees salary. If you contribute 6%, Medtronic contributes 3%. Medtronic adjusts the matching up based on company performance. At bthe end of the fiscal year they might say ok, everyone gets an additional $.10 on the dollar, making the match $.60 for every dollar contributed. However, regardless of employee contribution, Medtronic contributes 3% of the employees salary. Essentially, if the employee contributes the 6%, then there is *at least* a 6% match. -employee stock purchase program with 15% discount. Mandatory holding of 1 year I believe. -there is a bonus plan, payout is in July (fiscal year is june-may). Not really sure if it's competitive or not. -I got relocation in excess of $7500

  • Oct 17, 2018
    StarStarStarStarStar Current Senior Product Engineer in Tempe, Arizona

    We do have a decent package BUT they get worse overall every single year. They will improve is one less impactful area while using the other hand to raise costs in all other areas. Sad they go out of their way to hire the brightest people they can find and yet they think we are stupid.

  • Oct 17, 2018
    StarStarStarStarStar Current Employee in North Haven, Connecticut

    Health Benefits, Employee stock purchase program, Dental, vision, Bonus, Paid holidays, 401 K match by the company, good work environment. Young professional groups etc

  • Oct 05, 2018
    StarStarStarStarStar Current Employee in Cleveland, Ohio

    GREAT maternity and paternity leave; 12 weeks+

  • Sep 24, 2018
    StarStarStarStarStar Current Quality Engineer in Chicopee, Massachusetts

    I was out on short term disablity but thankfully they pay out full one hundred percent of salary

  • Sep 24, 2018
    StarStarStarStarStar Former Employee in San Antonio, Texas

    health insurance is top notch, 401K is matched up to a certain amount & you start with 1 week of PTO and can earn up to 3 weeks by years end

  • Oct 26, 2018
    StarStarStarStarStar Current Employee in Boulder, Colorado

    Terrible benefits for a large company. Before Covidien was bought out by Medtronic, we had terrific benefits. Good 401k match, excellent Medical and great vacation and sick leave. It all changed when Medtronic bought the company out. The progressive unlimited sick leave was eliminated to a PTO, now instead of staying home when you’re sick, people come in and spread disease. I don’t hang in the office cubes at all during the winter any longer. The sound of blowing noses and bringing up phelmn makes me gag. The health insurance not only went up in cost but gets progressively worse every year. Blue Cross/Blue Shield is run out of Minnesota and if you need a local specialist, you can forget it. Once I had to pay 100% out-of-pocket for a local specialist because BC/BS wanted me to drive to Cheyenne Wyoming for an in-network Doctor (when there were 14 local specialists within 15 miles of my house). What really prompted me to let perspective employees know, is that along with high deductible and crap BC/BS now they are pushing Trumps junk medical policies for 2019-buy insurance as you need,. This company is really getting worse and worse every year. Many, many employees I know are covered through their spouses who work other places. Let that sink in. Employees of a large multi-national medical device company have to buy insurance through their spouse because it sucks where they work. It is actually ironic, because if you want to add your spouse to your policy at Medtronic and he/she can get insurance at their job-they charge you MORE (not that you would want to add them to BC/BS, but if you’re desperate). Along with the yearly layoffs (every June for those keeping track), turnover is high. I don’t think they care. The Boulder site is small compared to the site in Minneapolis and, frankly, I wonder how much more time it has. We spend most of the year in hiring freezes and they block our ability to buy the most basic supplies. Medtronic also eliminated local Human Resources representatives. If you have a question, you get to call an international number where you can speak to someone who, most of the time, will tell you to speak to your supervisor (who told you to call them in the first place). You are told you have a tuition benefit but only if your direct supervisor approves. There is no appeal. Forget about travel to meetings. Most don’t get approved, and the ones that do can get cancelled at the last minute due to spreading freezes. I have seen trips cancelled on a Friday before they were suppose to leave on Monday-once the person had already paid to fly in a friend to take care of a sick pet while they were at the meeting that got cancelled last minute. We were excited to get bought out by Medtronic, thinking we would have even better benefits and stability. We were wrong and now miss what we had at Covidien.

Benefits Summary

List based on reports from current and former employees. It may not be complete.

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