From Canton, MA — 02/26/2007
Many of these posts represent the voice of what MEDITECH would call the brand new employee, anyone that has worked there for less than ten years. In the world of MEDITECH, youíre a complete nobody who hasnít paid your dues. They could care less about what you think because they know best. They arenít going to change their company that is being led by a group of people who have already been down the road your on and are getting closer to what they hope and pray will be their big pay off in retirement. At the very, very top are the people whose entire existence has benefited from the model they put in place. A model that is designed to rake in millions in profits which are then paid out in millions in stock dividends and very meagerly in salaries.
Money is made there by buying their stock. The fools that work there that donít buy any simply donít get it. Take a look at the salaries and stock holdings of the executives there. The salaries are low to average, the stock holdings are high. If you choose to stay you need to know that you will need to work for your entire career to really reap the financial rewards and you need to buy as much stock as you possibly can along the way. Plan on contributing at least 200,000 of your own money to get anywhere near the amount of stock youíll need to retire. Also, they put money in a trust for you. With a lifetime under your belt you can expect to retire there with a million dollars in that trust. Rumor has it that once it hits a million they stop contributing and pay the percentage to you directly, so thatíll be nice. It can go right to whatever assisted living youíve got lined up.
It will take you 10 to 15 years to get your salary and bonus to 100,000, and expect it to hover there for the bulk of your career. The quicker you get into management, the quicker you can get to that number. Management is really your only career path there. Sure, there are a handful of people that carve out some needed niche, but the majority are climbing the management ladder along with you. You can hang out between 50,000 and 80,000 for a lifetime if you plan on just phoning it in or if way back in your 20s when you were young and clueless you did something that has created a negative impression of you at a higher level. Maybe you got an OUI when you were traveling for them, or you drank too many free sodas, sent inappropriate email, got wasted at a work party, had sex in an office with a co-worker, whatever the case may be, itíll be a long road for you to turn that around and you probably wonít get to any pinnacle higher than manager. If that does happen to you, consider leaving because itís virtually impossible to climb out of that hole.
Itís truly a middle class existence, but hey, did you really think you were going to be rich? Isnít it almost too late for you anyway? You didnít graduate from a great school, you had average grades, youíre not really all that interested in putting the time in, and you donít really have any great ideas or really the motivation or desire to do more than the bare minimum to get buy, so, welcome, youíve found a family, settle in, have a soda, their free you know.