Mayo Clinic employees to receive a one-time bonus of $500

It is not too early to get into the holiday spirit if you are an employee at Mayo Clinic. That is because this week the organization announced most employees will be receiving a special end-of-the-year bonus.

“With thanks for your extraordinary commitment to our success in 2019, we are pleased to announce a one-time, year-end contribution of $500 to all full- and part-time staff in the allied health compensation program, Mayo Clinic Health System consulting staff and Mayo Clinic residents and fellows,” Dr. Gianrico Farrugia, president and CEO, and Jeff Bolton, chief administrative officer, said in a joint email to staff.

The contribution, which will show up in employees’ Dec. 17 paychecks, marks the first time in decades that Mayo has offered a system-wide bonus. The value of the one-time expenditure is valued at between $20-30 million.

“Use it as you see fit, such as investing in you and your family’s well-being and long-term financial security,” Farrugia and Bolton wrote.

(Select employees not receiving bonuses will be offered an additional day off, depending on their role and site, according to Mayo.)

The two executives say the organization is “on track to have a remarkable year in 2019.” Already, the system is exceeding expectations in just about every measure, including clinical care, research discoveries, and financial performance, according to the internal email, dated for Nov. 12.

As a result, Mayo is also offering raises to all allied health staff. As the email states: “Pay ranges will increase by 2 percent with a 2.75 percent multiplier based on the new range maximum for eligible staff.”

Those raises will take effect Feb. 19, 2020.

While most staff will see an increase, the pay bumps do not apply to union-represented staff, or staff of Charter House of other independent entities.

Though 2019 numbers will not be available until next year, if 2018 is any indicator, we can expect another strong performance from Mayo. Last year, the organization’s revenue climbed 5 percent to $12.6 billion. The Rochester hospital was also named the best in the U.S. for the fourth straight year.

Sean Baker is a Rochester journalist and the founder of Med City Beat.

Cover photo by William Forsman