Dive Brief:
- Among the top 25 paying companies this year, only one – Visa, the credit card company – is not in the tech or consulting sectors, according to Glassdoor’s 25 Highest Paying Companies in America for 2016 report. Taking the #1 ranking is consulting firm AT Kearney, with its $167,534 median total compensation package.
- Glassdoor's report is based on each company’s median total compensation, created by looking at salary reports for employers in which employees have anonymously and/or voluntarily shared both their base pay and other forms of compensation (i.e. commissions, tips, bonuses, etc.) over the past year, Glassdoor explains.
- After AT Kearney, the remaining nine in the top 10 are a mix of tech and consulting employers. The names likely wouldn't shock you (Google, McKinsey & Co., Juniper Networks, etc.).
Dive Insight:
Consulting and tech companies dominate the list because Glassdoor's report "reinforces that high pay continues to be tied to in-demand skills and higher education,” according to Dr. Andrew Chamberlain, Glassdoor's chief economist.
He explains that salaries are so high at consulting firms because "barriers of entry" are also high, as they might include personal contacts, reputations and specialized skills and knowledge – traits in demand for those employers. In tech, Chamberlain says the ongoing war for talent is driving unprecedented salaries, with demand outstripping supply for highly skilled workers.
Despite the gaudy compensation numbers among these employers, Glassdoor research has also found that money is not one of the leading factors in generating long-term employee satisfaction. Rather, culture and values, career opportunities, and trust in senior leadership often are cited as the most important drivers of long-term employee satisfaction and engagement.
