Business

Tech, consultancies again emerge as America's top paying companies

15 Apr 2017 | By Abheet Sethi
America's highest paying companies

Tech companies and consultancies have once again emerged as employers offering highest median salaries in the US.

Consulting firms AT Kearney and Strategy& were ranked first and second by offering median total compensation of $175,000 and $172,000, respectively, according to Glassdoor's annual survey.

Tech companies VMware ($167,050), Splunk ($161,010) and Cadence Design Systems ($156,702) are ranked third, fourth and fifth, respectively.

In context: America's highest paying companies

15 Apr 2017Tech, consultancies again emerge as America's top paying companies

Top rankedGoogle ranked 6th, Facebook - 7th

Google and Facebook were at the sixth and seventh place offering median total salaries of $155,250 and $155,000 respectively.

Consulting firm McKinsey & Company and tech companies NVIDIA, Amazon Labs126, Juniper Networks, LinkedIn, Salesforce and Dimension Data are other companies offering compensation ranging from $150,000 onwards.

Microsoft ($144,000) is ranked 19th while Twitter ($142,000) is at 22nd position.

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Why consulting, tech companies are America's top salary payers

Glassdoor explainsWhy consulting, tech companies are America's top salary payers

Finance companies pay well. Yet, Visa Inc ($142,000) is the only finance company among America's 25 highest salary payers.

While finance firms require highly qualified workers with niche skill-sets, consulting firms require much more, i.e. "personal contacts, reputations and specialized skills and knowledge."

The tech industry is facing an "ongoing shortage of highly skilled workers" causing a "war for talent," justifying higher salaries.

Work-life balanceDo high salaries translate to overall job satisfaction?

Just because a company pays high-salary, doesn't mean you'll like your job.

Employees of Strategy& (ranked second in terms of highest salaries) have given the firm average reviews on Glassdoor.

A common complaint by employees of high paying firms is companies must do more to ensure work-life balance.

Yet, there are companies like Facebook, McKinsey and LinkedIn which are highly rated for employee satisfaction.