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The thorny issue of remuneration

Why do we go to work? For company, comradeship? Yes. A sense of purpose? Of course. Just to get out of the house? Sometimes. But the bottom line is that we go to work to be paid.  

So, occasionally it is worth looking at what you get paid for your 40 hours’- plus weekly labour and compare it to others in similar jobs.

Helpfully, Glassdoor Staff, regularly put together lists which offer a snapshot of who is earning what. They looked at 221,00 salaries and employer reviews and have just released the 10 top-paying companies in the UK for 2016. Glassdoor looked at data voluntarily submitted by UK employees over the last year. Companies were only considered after Glassdoor had received at least 30 salary reports.

Technology has overtaken banking in their ranking, accounting for half of the 10 highest paying companies in the UK, followed by banking and consulting.

Staff at the highest paying companies receive total pay packages up to £90,000 – more than three times the median annual salary of £27,600 across the UK.

It also says that UK standards of living lag behind the European average.

Software firm SAP, with an average total package of £90,000, topped the list. It was followed by cloud computing company EMC, management consultant McKinsey and Boston Consulting Group. Each of these firms offered median salaries above £80,000 a year.

Facebook ranked fifth with employees looking to earn a total pay package of £79,500. This is more than Google staff that nearly made the ranking with a median total compensation of £73,300.

Of the top companies, only one, Nomura International is headquartered in London.

Dr Andrew Chamberlain, Glassdoor’s chief economist said a shortage of special skills makes tech employees more valuable. “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,” Chamberlain said.

“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,” he added.

Although the report concentrated on remuneration, employees claimed to be more concerned about their career path, working with a competent team and a positive work environment in the long term.

These are the 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






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