10 Top-Paying Companies
Friday, January 22, 2010provided by
Senior account execs at Salesforce.com take home an average $249,607 total compensation annually. See which other Best Companies to Work For offer big paychecks.
1. Baker Donelson
 Courtesy of Baker Donelson |
Average total pay: $319,779
For: Shareholder*
Best companies rank: 77
This Memphis-based law firm is making quite a debut this year as a Best Company to Work For: It's already leaped to the top of our highest-paid list.
The firm's 279 "shareholder" attorneys -- equivalent to partners elsewhere -- earn salaries averaging more than $300,000 a year, and that's before a nearly 20 grand bonus.
More from CNNMoney.com: |
But it's not just the legal eagles who are well-compensated. Legal secretaries average a little under $50,000 a year, $1,400 higher than local market average, according to Baker Donelson; paralegals earn $2,600 more than the average of $56,760. And all staffers on board at least a year are eligible for a bonus of 2% of salary.
The firm also likes to bring staff together. Day begins with The Daily Docket, a 10- to 15-minute huddle of lawyers and staff in 10-person teams to update everyone on what's going on. There are three ground rules: 1) Start on time. 2) Finish on time. 3) Don't try to solve problems.
2. Salesforce.com
Courtesy of Salesforce.com |
Average total pay: $249,607
For: Senior Account Executive*
Best companies rank: 43
Salesforce.com's focus on cloud computing -- its software helps companies manage sales and customer relationships online -- has helped it keep revenue growth sky-high. Sales, which have been increasing about 20% a year, topped $1 billion last year.
| Popular Stories on Yahoo!: • Companies Flashing Financial Danger Signs • How to Cash in on Your Unused Stuff • Complaints of 'Racist' Cameras Explained More From Yahoo! Finance |
That leads to lofty pay for employees as well. The San Francisco-based company sets pay levels above market, and every employee is bonus-eligible under a "mahalo plan" (mahalo is Hawaiian for thank you). The more you make, the higher the bonus target: For senior managers, it's 15% of pay, for directors it's 20%.
"We have to save the customer from Microsoft, Oracle and SAP," rails CEO Marc Benioff in his 2009 book, "Behind the Cloud." To keep employees motivated for the crusade, the Salesforce gives stock options and restricted stock awards to a wide range of staff, and regularly enhances perks. One recent addition: $5,000 for adoption aid.
3. Orrick Herrington & Sutcliffe
Courtesy of Orrick |
Average total pay: $245,206
For: Associate*
Best companies rank: 95
The recession hit this corporate law firm hard: For the first time in its 147-year history, Orrick had to resort to layoffs last year. The firm ended up cutting 130 attorneys and 235 staffers (though all got severance and outplacement help). And Orrick's overall Best Companies rank slipped to 95, down from 87 last year.
But its status among the top-paying Best Companies stayed firmly at third place again this year. And no wonder: Non-partner lawyers average a hefty $201,000 annually, plus a $44,000 bonus.
The firm even rewards attorneys who don't want to pursue the traditional partner track. This year they are installing a new three-track model that includes long-term opportunities for lawyers who don't want to become partners at all. For some, flexibility is the best compensation of all.
4. Bingham McCutchen
Courtesy of Bingham McCutchen |
Average total pay: $233,800
For: Associate*
Best companies rank: 12
Despite the recession, this merger-happy corporate law firm brought Washington, D.C.-based McKee Nelson into its fold last summer, adding 120 lawyers to its U.S. roster.
They join a team of associates that enjoys some of the highest paychecks for law firms on this list. They earn, on average, a base salary of $211,900 plus bonus of $21,900. The perks aren't bad, either: Employees at its Boston, New York and Washington, D.C., offices can lunch at subsidized cafes. Associates can take 14 weeks off at full pay for maternity or paternity leave, and get emergency backup care for their kids or elderly parents.
Like many law firms, Bingham was hit hard by the recession as client work started to dry up. But bankruptcy work increased, so the firm transferred some lawyers to those projects. It wasn't enough: In early 2009, Bingham froze salaries and laid off 16 attorneys and 23 staffers. In an e-mail to employees, the firm's chairman said he "deeply regretted that anyone within our tightly knit community had to lose a job."
5. Devon Energy
Courtesy of Devon Engery Corp. |
Average total pay: $187,819
For: Engineer*
Best companies rank: 20
More than 50,000 people apply for jobs at this Oklahama City-based oil and gas producer every year, attracted by a rich package of pay and benefits that includes one of the strongest retirement plans in American business: Devon funds 401(k) plans with anywhere from 8% to 22% of pay, depending on employee match and how long they've worked there. Performance bonuses average more than 15% of pay.
Another attraction: the company's unrelenting emphasis on doing the right thing, expressed in a mission statement called "The Devon Way." The company promises employees: "We will not have hidden agendas and we will not manipulate people." Says one employee: "I feel it is an honor to work for a company with such a high standard of ethics and values."
6. Alston & Bird
 Courtesy of Alston + Bird |
Average total pay: $185,938
For: Associate*
Best companies rank: 30
2009 wasn't Alston & Bird's best year: The Atlanta law firm laid off 14 attorneys and 38 staffers. Associates saw their average annual pay drop by about $17,000.
Still, merit bonuses have increased the past two years: Hourly workers can receive up to 9% of pay, supervisors up to 20%, and senior managers a whopping 35% of pay.
Plus, the 117-year-old firm maintained a family-friendly benefit package that includes 90 days of paid leave for new mothers and adoptive parents, 15 days' paid paternity leave, $7,000 adoption aid and on-site child care.
7. Perkins Coie
Courtesy of Perkins Coie |
Average total pay: $183,376
For: Associate*
Best companies rank: 75
Lawyers at this Seattle-based firm work with big-name clients like Boeing, Microsoft, Amazon.com and Starbucks.
But as corporate work started to dry up with the worsening recession, the firm made cutbacks to try to avoid layoffs. It froze associate and staffer pay and trimmed partner salaries 10%. In the end, though, it cut 12 attorneys and 26 staff members.
Still, the firm's policy is to pay at market levels in all locations. Full-time employees get 100% coverage for medical and dental insurance premiums. Everyone gets an end-of-year bonus: 5% of pay. Employees who bike to work get a new benefit: $20 a month reimbursement. And animal lovers can get discounted pet insurance.
8. EOG Resources
Courtesy of EOG Resources |
Average total pay: $170,175
For: Software Engineer*
Best companies rank: 61
Civic-minded employees can pay it forward at this Silicon Valley high-tech outfit: They can take up to five paid days off a year to work at a nonprofit (until last year, the maximum was one day off a year). Those who prefer to donate money can get their charitable contributions matched dollar for dollar up to $20,000.
The company -- it makes devices that connect servers with storage centers --- sets base pay at or above the industry median, and then piles on generous bonuses linked to performance. When they're hired, employees receive restricted stock units. Then they're awarded more units each year -- the better Brocade's doing, the more it gives out. Employees can also buy Brocade stock at a 15% discount.
9. Arnold & Porter
Courtesy of Arnold & Porter |
Average total pay: $171,074
For: Associate*
Best companies rank: 65
Employees looking to escape the typical law-firm pressure cooker might find Arnold & Porter's generous leave policies appealing: Staffers can take up to 18 weeks' paid maternity or adoption leave, and new dads or anyone who needs to take care of a seriously ill family member can take six weeks off with full pay.
Meanwhile, attorneys who just want to take a break for any reason can take an unpaid three-year leave of absence as long as they're in good standing; the Washington, D.C.-based firm will even pay their bar dues while they're away.
Arnold & Porter keeps an eye on industry surveys to make sure attorney salaries compare favorably to rival local firms. After two years on board, employees can enroll in a 401(k) plan; the firm contributes 7.5% of pay. Seniority is rewarded with every five-year anniversary: Employees are recognized at an awards ceremony and get bonuses ranging from $300 to $3,000.
10. Brocade Communications Systems
Courtesy of Brocade Communications |
Average total pay: $187,819
For: Engineer*
Best companies rank: 20
More than 50,000 people apply for jobs at this Oklahama City-based oil and gas producer every year, attracted by a rich package of pay and benefits that includes one of the strongest retirement plans in American business: Devon funds 401(k) plans with anywhere from 8% to 22% of pay, depending on employee match and how long they've worked there. Performance bonuses average more than 15% of pay.
Another attraction: the company's unrelenting emphasis on doing the right thing, expressed in a mission statement called "The Devon Way." The company promises employees: "We will not have hidden agendas and we will not manipulate people." Says one employee: "I feel it is an honor to work for a company with such a high standard of ethics and values."
*Most common salaried job
No comments:
Post a Comment