Dive Brief:
- Consulting and tech companies dominate the list of the highest-paying companies in the U.S., with leaders A.T. Kearney, Strategy& and VMware paying a median total compensation of $175,000, $172,000 and $167,050, respectively, according to Glassdoor. For the report, Glassdoor looked at the median base compensation packages — which include base salary and other forms of compensation such as commission and bonuses — reported by U.S. based employees on the site.
- Not only are the top 25 companies paying employees six-figures on average, they also increased hiring, according to Glassdoor. The high base compensation packages in tech stem from the active talent wars, which has created a shortage of skilled workers. In consulting, high salaries emerge because of what Dr. Andrew Chamberlain, chief economist at Glassdoor, calls "barriers of entry" in the field. Companies look for consultants with specialized knowledge and personal contacts in the industry.
- Tech companies hold 20 of the 25 spots on the list for highest-paying companies, with four consulting firms and one finance company (Visa Inc.) also making an appearance. Tech giants like Google (#6), Facebook (#7) and Microsoft (#19) appear alongside organizations like Synopsys (#15) and Wal-Mart eCommerce (#20).
Dive Insight:
No surprises here. Tech pays and companies across sectors need subject matter experts, often in the form of consultants, to come into their organization and help create a strategy. That's not to say the consulting companies on Glassdoor's list focus solely on tech implementation strategies, but that is an aspect of their areas of expertise.
Recognizing some companies have a confidence gap in terms of their technology strategy, consulting firms are stepping up to help, particularly in areas of digital transformation. But to enter the space and remain dominant, consulting firms require talent that knows industry-leading technologies and cost-saving measures.
Tech often achieves high rankings on highest-paying or best jobs list. Companies often vye for talent by promising other perks, such as ample vacation time and benefits. With the talent wars raging, tech companies are practically required to promise high salaries to prevent other companies from poaching employees.
