Salary-benchmarking site Emolument.com has analysed its pay data in relation to over 250 companies in order to name winners for the three categories of the Emolument Employer Awards: “Students’ Favourite”, “Gender Equality Champion”, and “Fairest Company”. Based on over 17,000 entries, the top three companies for each category are listed below.
The Gender Equality Award rewards companies with the smallest gender pay gap amongst its employees. Below are the top three companies most committed to gender equality in pay.
Note on methodology: Emolument calculated the average gender pay gap across all experience brackets (1-5 years, 5-10 years, etc.).
- Accenture on the lead : Accenture set ambitious targets for gender equality, committing to having women representing at least 40% of new hires by 2017 (which it claims to have already achieved). Winning our award shows Accenture’s pay policy is consistent with its advertised desire to tackle gender inequality, as the gender pay gap at Accenture is the lowest among all the surveyed companies.
- Is banking getting better? With two banks in this year’s top 3, it appears that policies to tackle the issue in the financial sector is starting to pay off (Financial Services is one of the sector in which the gender gap is the highest).
Where are employees most satisfied with their pay? Our Fairest Company award ranks companies by looking at the proportion of employees who were satisfied with their bonuses versus those who are either unsure or dissatisfied:
- A great year for Royal Dutch Shell : Royal Dutch Shell shares’ value went up by 50% since last year, and it appears rewards trickled down to its employees, as 61% of them are happy with their 2016 pay.
- It’s tough to stay on top: none of last year’s winners made it into this year’s shortlist. Employees’ satisfaction regarding their bonus is volatile: those who were happy with their 2015 bonus were probably unhappy if they received the same bonus in 2016. as being up or down from the previous year is a stronger indicator than bonus’ absolute values.
- No bank in sight. As in 2015, no bank made the top 10, even though the bonuses they offer are bigger than in any other industry. Bankers tend to take high bonuses for granted and the fact that bonuses are much lower than before the 2008 crisis still causes frustration, despite high absolute amounts compared to other industries.
For which employer do students most aspire to work? In order to list runner-ups and winners of the Students’ Favourite Award, we have asked over 600 students for which company they would most wish to work upon graduation.
- Different class, same aspirations: this year’s podium is almost identical to the previous one, as Google and Goldman Sachs were already on the podium in 2015. This year however, Deloitte has replaced McKinsey.
- Heart vs. reason? Among our 10 finalists, Google is the only company which is neither a consultancy firm nor a bank; Google dropped from first to second place this year, behind Goldman Sachs. Despite the attractive work environment and perks offered by top technology firms, blue chip banks with their high salaries and established career paths, still appeal to many students.
Alice Leguay, Co-Founder & COO at Emolument.com said: ‘While Goldman Sachs has overtaken Google in student’s hearts this year, the question remains: for how long fresh graduates expect to stay in banking? With the financial industry bleeding talent away to technology firms, especially once young bankers have coined their initial experience at a blue chip bank, often perceived as perfecting their education and allowing them to pay off their student loans, before using it as a stepping stone towards a more fulfilling, less regulated industry such as venture capital, private equity or the technology sector.’