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Glassdoor reveals the 10 Highest Paying Companies in the UK for 2016

Glassdoor has announced the results of its inaugural pay report identifying the 10 Highest Paying Companies in the UK.

 

According to a recent Glassdoor survey, more than six in ten (62%) people in the UK say that salary and compensation are among their top considerations before accepting a job. With pay top of mind when it comes to determining where to work, Glassdoor says this report helps people get a better sense of which companies pay the biggest salaries.

 

The report reveals that the UK’s best paying companies are offering UK staff a median total compensation package between £73,000 (#10) and £90,000 (#1). Currently, the UK median gross annual salary sits at £27,6002.  Of the top ten employers, only one company is headquartered in London (Nomura International), with a total of just three industries represented: Tech (5), Banking (3) and Consulting (2).

 

This report is based on company-specific salary reports that have been shared over the past year on Glassdoor by UK-based employees. For the purposes of this report, Glassdoor looked at salary reports in which employees anonymously and voluntarily shared both their base pay and other forms of compensation (i.e. commissions, tips, bonuses, etc.) at these companies. This report includes each company’s median base salary, median total compensation and industry.

 

 

10 Highest Paying Companies in the UK for 2016:

 

1. SAP

•   Median Total Compensation: £90,000

•   Median Base Salary: £75,000

•   Industry: Tech

2. EMC

•   Median Total Compensation: £86,500

•   Median Base Salary: £70,000

•   Industry: Tech

3. McKinsey & Company

•   Median Total Compensation: £85,499

•   Median Base Salary: £78,000

•   Industry: Consulting

4. Boston Consulting Group

•   Median Total Compensation: £83,311

•   Median Base Salary: £80,000

•   Industry: Consulting

5. Facebook

•   Median Total Compensation: £79,500

•   Median Base Salary: £68,420

•   Industry: Tech

6. Deutsche Bank

•   Median Total Compensation: £75,000

•   Median Base Salary: £65,000

•   Industry: Banking

7. Nomura International

•   Median Total Compensation: £74,990

•   Median Base Salary: £65,000

•   Industry: Banking

8. Cisco Systems

•   Median Total Compensation: £74,000

•   Median Base Salary: £58,952.5

•   Industry: Tech

9. Google

•   Median Total Compensation: £73,300

•   Median Base Salary: £60,225

•   Industry: Tech

10. BNP Paribas

•   Median Total Compensation: £73,000

•   Median Base Salary: £62,000

•   Industry: Banking

 

Glassdoor’s chief economist, Dr. Andrew Chamberlain, added, “A huge contributing factor to high salaries is the development of technology tied to in-demand global skills. Economists often refer to this as the ‘superstar effect’. Today, with expanding broadband and the spread of mobile devices, it’s possible for skilled workers to impact millions, rather than thousands. These skilled workers are hugely valuable for companies looking to grow their global profile - but demand is clearly outstripping supply.

 

“Tech salaries in particular tend to be high because of a shortage in specialist skills such as software development and programming, with a bidding war for these workers now underway. Barriers to entry at consulting firms mean that many loyal clients stay with specialists for a number of years because of their extensive contacts base, and bankers are of course still receiving hefty bonuses as successful traders bring huge company returns.”

 

Last year, Glassdoor Economic Research published a study suggesting that although the relationship between remuneration and employee satisfaction is a real one, it’s not the superseding factor to producing happy employees. When analysing 221,000 salary and employer reviews, it was proven that higher pay did result in somewhat happier employees, but that in the long-term putting into place a ‘prosperous career path’, ‘hiring a competent team’ and ‘maintaining a positive culture’ was far more important.

 

This pay report comes on the heels of Glassdoor’s Pay Equality Roundtable Discussion, which featured Hillary Clinton and other leaders, last month in New York City.

 

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