We've probably all wondered if the tech, banking and consulting sectors were really as lucrative as they seem to be.
Now, a new report from recruiter Glassdoor has confirmed all our suspicions: they really, really are that well paid.
In its inaugural pay report, Glassdoor has identified the 10 highest paying companies in the UK, which all fall within the banking, consulting and tech sectors and are leaps and bounds ahead of the average median gross salary countrywide, at £27,600.
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Some familiar tech names make the top 10, with both Facebook and Google putting in an appearance, although software business applications provider SAP leaves its competition far behind in the race to be the highest paid employer in the UK.
The UK's highest paid companies
|Median total salary||Industry|
|McKinsey & Company||£85,499||Consulting|
|Boston Consulting Group||£83,311||Consulting|
The best paying companies in the UK are willing to offer their staff a median salary of between £73,000 and £90,000, although only one of these companies, Nomura International, is actually headquartered in London.
More than six in 10 (62 per cent) of people in the UK say that salary and compensation are among their top considerations before accepting, according to Glassdoor.
The company's previous research has found that higher pay did result in somewhat happier employees, but in the long-term the less materialistic factors of putting into place a "prosperous career path", "hiring a competent team" and "maintaining a positive culture", were valued more highly than salary.
Glassdoor compiled its results through company-specific salary reporting it had collected over the past year, in which employees anonymously and voluntarily shared both their base pay and other forms of compensation.
Why these sectors?
When asked why the tech, banking and consulting sectors are so lucrative – even their baseline salaries outweigh many mid-career and final salaries throughout the UK (see below) – Glassdoor's chief economist Dr Andrew Chamberlain has pinned it down to their high skill levels.
"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'," Glassdoor’s chief economist, Dr Andrew Chamberlain said.
"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."