Best Places to Work: Surprising Survey Results and Analysis

The Best Places to Work survey from BusinessWeek is in.  Given the time of year when many new college graduates are still looking to land their first job and college freshmen and sophomores are looking to select the best major (see this list of the Best College Majors by highest starting salary), it’s timely to consider just what is a great place to work versus a sub-par corporation that will leave new entrants to the workforce unchallenged, unrecognized and generally apathetic about their professional career. The survey BusinessWeek published is actually the culmination of three different surveys – 1) Career Services Directors from US colleges 2) Universum, a research company and 3) Employer surveys.  While the survey listed out the Top 50 places to start a career, I wanted to delve into some trends and comments they listed as the “selling point” for just what made the company such a great place to work.  The source article can be referenced here . Best Places to Work – Trends The top 4 spots on the list of 50 are all Accounting companies – yes, 4 out of the top 4 .  I find this to be odd, not only due to the abnormal clustering demonstrating that anyone that’s anyone should be working for an Accounting firm, but also because these companies are still in the midst of layoffs and the Financial/Accounting industries may emerge from this financial crisis looking much differently than they used to.  I had commented following the 2008 survey that the preponderance of Financial/Accounting companies topping the list seemed odd given the start of a financial meltdown at that time – and the layoffs ensued.  Who are the first to go?  Often times, the recently hired due to their lack of experience and immediate value they can bring to the company (and in the US, you’ll find the severance package is severely deficient compared to other countries) – and the very senior, given their proximity to retirement and high salary in comparison to mid-tenured employees. Goldman Sachs is the top Financial Firm (Investment Bank) on the list at #6 – this seems reasonable given that they seem to be the only large firm in the group that weathered the storm relatively unscathed (well, especially since the government bailed out AIG who in turn, payed up on some pretty large IOUs to Goldman).  Anyway, if you’re going to work on Wall Street, Goldman seems like the place to go.  Share prices, bonuses and well, jealousy from main street and the requisite ire of politicians toward their unseemly bonuses this year seem to point toward this conclusion. I found it interesting that Technology companies didn’t comprise a heavy weighting at the top of the list.  IBM is up there at #10, but they’re more of a consulting firm now than a pure-play computer company like in decades past.  Next is Microsoft at #18.  And, where’s Google???  Not only did Microsoft outrank Google, but Google did not even make the list! If you go back even as far

as pre-IPO, Google has perennially been the absolute best place to work for techies and administrative folks alike – the neat workplace perks, the stock options , the name.  The only thing I can surmise is that perhaps they didn’t participate in the employer survey, but leaving Google off the list seems to be a major omission to me. Interesting Selling Points and Comments from the Survey Ernst&Young #2 “…most diverse: 36% of new entry-levels are minorities” If this is an objective for you, E&Y certainly seems to be aggressively recruiting minority employees.  Given US demographics, these numbers seem above and beyond what even other progressive companies are achieving.  Disney achieved 37% as well. IBM #10 “…the most generous 401(k) match in its industry: 6%” This is a high match.  Consider that over a long career (if anyone makes it 30 years at the same company anymore), this difference between say 6% at IBM and 4% elsewhere is enormous. Philip Morris #17 “2 out of 3 entry level hires receive a performance bonus in their first year, which averages $4,900″ This is a pretty nice starting bonus.  If you’re average or better, starting off with a virtually assured 5K per year right off the bat is nice; this probably indicates a high overall bonus structure for more tenured employees.  This, of course, assumes that you don’t have an ethical/perception issue with working for the world’s largest tobacco company. Northwestern Mutual #29 “3 out of 4 hired are gone after three years…” I found this to be an odd selling point that placed the company on the Top 50.  Hey, come work here, you’ll be gone in no time! J&J #41 “Set aside $1 in your 401(k) and J&J will pitch in $2…” I had to do a double take on this perk.  A 200% 401(k) match?!  It didn’t state what the limit is, but a 200% return on your retirement account is nothing to sneeze at. Aramark #42 “Decent pay, but retirement benefits are another story.  The initial 401(k) match is 1.5% of pay” Did they just run out of stuff to write at the end of the list?  I mean, how does this translate into placement in the top 50 best places to work list? So, definitely some surprises on the list this year, but the survey’s data and comments should certainly shed some light on where the best places to work are for both new grads and prospective job hunters out there. Do you work for any companies on the list?  Did BusinessWeek get it right? Related posts: How Much is that Puppy? The Most Detailed Dog Cost Analysis You’ve Ever Seen Oil Gas Price Correlation: How to Estimate the Impact of Oil Prices on Your Wallet How do Stock Options Work? Trade Calls and Puts – Part 1 Are you Efficient? Save Time by Applying Lean Thinking to Everyday Life Top 10 College Degrees in 2009 with Massive Demand

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Best Places to Work: Surprising Survey Results and Analysis