American wages vary widely, from the minimum wage to six-figure salaries, and more. Often, it is the industry, in addition to the job, that determines the level of pay.
The highest-paying jobs tend to be found in tech firms, consulting groups, medical facilities, and financial institutions. In certain companies in these industries, it is not just the top tier of earners that are paid well. At some companies, the typical employee earns six figures.
Based on figures provided by employee review website Glassdoor in a report titled “Glassdoor’s Highest Paying Companies in America for 2017,” 24/7 Wall St. reviewed the highest paying companies in America. Consulting firm A.T. Kearney leads U.S. companies with workers reporting a median total annual compensation of $175,000. Technology company Akamai rounds out the top 25 with a median compensation of $140,000 a year.
While jobs that require hard work do not necessarily pay more, occupations that require advanced skill and education levels tend to pay much more than most. An education increases workers’ skill sets, making them more valuable to employers. The additional cost of education also means employers in a field must sometimes offer greater compensation as an incentive to invest in higher education.
In the United States, the typical worker with just a high school diploma earns about $29,000 a year. The median annual earnings for an American worker with a bachelor’s degree is nearly $51,000, and the typical holder of a professional degree earns about $67,000 a year.
The companies that pay their employees the most operate primarily in two industries: consulting and tech. Only one of the top 25 paying companies, Visa, does not fall into one of these two categories. These 25 companies offer high salaries to attract some of the nation’s most highly-skilled workers. The typical job at these companies likely requires at least a bachelor’s degree, and many workers at consulting firms also have MBAs.
“This report reinforces that high pay continues to be tied to in-demand skills and higher education, which in part is why we see several companies on this list among the consulting and technology industries,” said Dr. Andrew Chamberlain, chief economist at Glassdoor.
Chamberlain went on to add that there are other barriers to entry driving up salaries at these companies. Those applying for jobs at consulting firms are often hired in part based on their reputations and personal contacts in the industry. All of these demands minimize the talent pool of workers and drive up wages at these companies.
To identify the 25 highest paying jobs in America, 24/7 Wall St. reviewed 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 U.S.-based employees on Glassdoor over the past year (3/2/16 – 3/1/17) published in Glassdoor’s 25 Highest Paying Companies in America for 2017. Companies considered for this report must have received at least 50 salary reports in U.S. currency by U.S-based employees during the timeframe. Only companies for which all forms of compensation were reported were considered.
These are America’s highest paying companies.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.