Consulting and Technology firms head the list of 25 highest-paying companies in the United States, according to online career site Glassdoor Inc. that takes into consideration salary reports carrying the median total compensation and median salary figures. The employees “have anonymously and voluntarily shared both their base pay and other forms of compensation” including commissions, tips and bonuses over the past year.
Consulting major A.T. Kearney tops the list with a median total compensation of $167,534 and median base salary of $143,620. Strategy& is in the second spot with a median total compensation of $160,000 but a higher base salary than Kearney at $147,000. Network solutions technology firm Juniper Networks is third with a median total compensation of $157,000 offering a median total compensation of $157,000 and median base salary of $135,000.
Interestingly, the first ten spots are shared by five Technology firms and four Consulting companies. The tech firms include Google on the fifth spot and Amazon subsidiary, Lab 126 ranked sixth. McKinsey & Company (4th rank) along with Boston Consulting Group (8th rank) are the other two Consulting companies. Visa is the only Finance sector company to figure in the list at 11th rank.
As to the overwhelming presence of technology and consultancy firms in the list, Glassdoor Chief Economist Dr Andrew Chamberlain attributes it to “in-demand skills and higher education.” He also says salaries are sky-high at consulting companies due to several factors like employers demand for top consultants with “personal contacts, reputations, specialized skills and knowledge”. Similarly, in technology, the ongoing shortage of highly skilled workers was driving up salaries.
The survey also found that salary was not among the most important factors of employee satisfaction in the long run. Culture and values, career opportunities and trust in senior leadership played a much more important role.
With regard to methodology, Glassdoor said it collected the data as reported by US-based employees over the past year, that is from March 30, 2015 to March 30, 2016. Companies considered for this report must have received at least 50 salary reports in U.S. dollars by U.S-based employees during the time frame.
While ‘other forms of compensation’ is an optional field on Glassdoor, salary reports considered for this report should be from employees who shared both their base pay and other forms of compensation. In cases where companies have the same median total compensation, the company with the higher number of salary reports received the higher rank. Subsidiaries of companies were considered for this report if they met the methodology, have their own distinct job listings and profile on Glassdoor.
Compared to the previous year’s report for the 15-highest paying companies in the US, salaries in tech firms have increased. Median total compensation at data-center software company VMware Inc. rose to $152,133 this year, from $145,000 in 2015.
While lesser-known tech firms like Juniper Networks, Guidewire Software Inc. and Cadence Design Systems Inc. found place among the top 10, Apple Inc.and Amazon.com Inc. did not make it to the list despite being known to be good paymasters. considered top destinations for well-paid tech talent, but their employee bases also include retail and warehouse employees whose salaries bring down the companies’ median pay, Glassdoor community expert Scott Dobroski said.
Yahoo Inc. with a median compensation of $129,940 and IntelCorp with a median total compensation of $118,800, both facing troubled times, also did not figure in the list. Neither did Uber Technologies Inc. as Glassdoor included the salaries of the company’s on-demand drivers, in addition to the company’s staff employees.