A financial company which creates the technology that runs banks across the world provides the highest starting salary of any company in the UK, it has been revealed.
Thought Machine, based in London, offers new employees an average salary of £60,000, according to new research by the recruitment website Glassdoor.
Meta – the parent company of Facebook – takes second place offering £57,000 to those at the start of their career, while financial services company Macquarie Group came third with an offering of £55,000.
Finance companies dominated the list – including payment processors, banks or investment banks – taking eight of the places in the top nine list.
The rest of the top 25 was made up with legal, tech and consulting companies – including law firm Clifford Chance and the Boston Consulting Company who both offer £50,000 to new starters.
Revealed: The top 50 starting salaries in the UK
1. Thought Machine – £60,000
2. Goal – £57,000
3. Macquarie Group – £55,000
4. Goldman Sachs – £50,000
5. Bank of America – £50,000
6. Deutsche Bank – £50,000
7. Black Rock – £50,000
8. BNP Paribas – £50,000
9. Credit Suisse – £50,000
10. Clifford Chance – £50,000
11. Boston Consulting Group – £50,000
12. Nomura Holdings – £50,000
13. TPP – £50,000
14. Bloomberg LP – £49,000
15. LEK Consulting – £49,000
16. Linklaters – £48,500
17. Morgan Stanley – £47,500
18. Oliver Wyman – £47,000
19. Allen & Overy – £46,500
20. Herbert Smith Freehills – £46,000
21. EY-Parthenon – £46,000
22. McKinsey & Company – £45,000
24. Freshfields Bruckhaus Deringer – £45,000
25. FactSet – £45,000
26. Expedia Group – £44,250
27. JPMorgan Chase & Co – £43,500
28. Microsoft – £42,000
29. Strategy& – £42,000
30. Salesforce – £40,000
31. London Stock Exchange Group -£40,000
33. Schroeder – £40,000
34. Checkout.com – £40,000
35. Newton Europe – £38,500
36. Cisco Systems – £38,009
37. Multiverse -£38,000
38. OneTrust – £38,000
39. FTI Consulting – £37,000
40. Gartner – £37,000
41. Ocado Technology – £37,000
42. Barclays – £36,500
43. Arm – £36,000
44. Lane Clark & Peacock – £36,000
45. Baringa Partners – £36,000
46. Financial Conduct Authority – £35,700
47. Google – £35,000
48. AlphaSights – £35,000
49. Capital One – £35,000
50.BP – £35,000
Thought Machine, based in London, offers new employees an average salary of £60,000, according to new research by recruitment website Glassdoor (pictured)
Meta – the parent company of Facebook – takes second place offering £57,000 to those at the start of their career (left) In third place was the global financial services group the Macquire group, who offer entry-level employees £55,000 (right)
All salaries listed are for entry-level jobs, which are classed as jobs that require less than two years of relevant experience and are non-senior positions.
When there is the same compensation, the ranking is decided by the number of salary reports. So the highest ranking company offering £50,000 will have used more salary reports for the median base than the lower ranking one.
The median base salary is compiled from over 100,000 anonymous UK salary reports between April 2021 and March 2022.
Thought Machine, who have an HQ based in London, said their mission is to ‘create technology that can run the world’s banks according to the best designs and software practices of the modern age’.
Goldman Sachs was the fourth highest paying, offering a salary of £50,000 to new staff. (Their London HQ is pictured)
Bank of America and Deutsche Bank came in fifth and sixth place, both offering to pay a salary of £50,000 to new starters (left and right)
The company state this will enable them to ‘properly and permanently rid the world’s banks of the problems generated by poor technology running on legacy infrastructure’.
The company hires more than 500 people across Europe, Asia, North America, Australasia, and the Middle East and describes themselves as ‘world class’.
Thought Machine describes itself as a ‘super friendly company’ and there are social activities organized for those who enjoy free food and drink in offices.
The company also hosts a cheese and wine club and sponsors fitness activities including football, basketball, and running, climbing and squash.
Employee also benefit from weekly town halls.
Commenting on the research, Lauren Thomas, Glassdoor’s EMEA Economist told FEMAIL: ‘Our research shows that finance and tech companies are offering big money to attract those at the start of their careers.
‘But while the majority of young people say salary is their primary consideration when job hunting, pay shouldn’t be the only consideration when determining where to work.
‘Once in a job, it’s a company’s culture and values, senior leadership team and the career opportunities available that drive employee satisfaction.
‘To enhance Gen Z employees, companies should focus on mentorship, learning and development.
‘Investment of this sort has proven difficult for employers in the post-pandemic, remote-first environment but it is exceptionally important to young workers.’
Gen Z insist finding a job is harder for them ‘because of the pandemic’ – as they insist the competition for roles is ‘fiercer’ than ever
More than half of young adults aged 18-25 think that there are fewer entry level job opportunities now than there were before the pandemic, Glassdoor research shows.
Gen Z also think the competition is more fierce (65 per cent) and that it was easier for previous generations to secure an entry-level job (64 per cent).
With the cost of living currently soaring, the new research also shows that salary is the most important factor to young adults when considering where to work (53 per cent).
But for companies who are struggling to fill record numbers of job vacancies, Glassdoor research shows that eleven employees get into a job it isn’t pay that sustains long-term employee satisfaction but a company’s culture and values, the decisions made by senior leadership, and the career opportunities available.