Glassdoor®, the world’s most transparent jobs and recruiting marketplace, today 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 percent) people in the UK1 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, 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 companies3. 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.”
Is there a relationship between money and job satisfaction?
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.
Glassdoor currently holds approximately 12 million workplace reviews, ratings and insights shared by employees, including millions of salary reports, on more than 540,000 companies4 around the world. Glassdoor has also recently conducted several research reports and surveys diving deep into the topic of pay and salaries.
ADDITIONAL GLASSDOOR SALARY RESEARCH, REPORTS & REFERENCES:
- FACT SHEET: Gender Pay Gap & Salary Transparency
- Demystifying the Gender Pay Gap: Revealing The Gender Pay Gap
- Do you Need To Jump Ship For A Pay Rise? Glassdoor’s Global Survey Reveals Salary Transparency Perceptions
- The Gender Pay Gap – Is it Real? New Survey Uncovers Employee Sentiments and Perceptions Across the Globe
- Top 5 Takeaways from Glassdoor’s Pay Equality Roundtable Discussion Featuring Hillary Clinton & Other Leaders
- VIDEO: 3 Minute Recap From Glassdoor’s Pay Equality Roundtable Discussion
1 This survey was conducted online within United Kingdom by Harris Poll on behalf of Glassdoor from December 21-23, 2015 among 1,043 adults ages 18 and older
2 Median gross annual earnings for full-time employees via the Office For National Statistics - year ending 5 April 2015
3Methodology: Glassdoor’s 10 Highest Paying Companies in the UK report identifies companies with the highest median total compensation package (including base salary and other forms of compensation, such as commissions, tips, bonuses, etc.), as reported by UK-based employees on Glassdoor over the past year (30/3/15-29/3/16). Companies considered for this report must have received at least 30 salary reports in pound sterling by UK-based employees during the timeframe. While ‘other forms of compensation’ is an optional field on Glassdoor, salary reports considered for this report must have been 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 receives 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.
4 Glassdoor Data Labs, April 2016
