Which industry beats tech in work benefits?

By now the tech industry’s perks are legendary — c’mon, sales of ping-pong tables are seen as a tech economic indicator — but a new survey shows that the finance industry has it beat.

Glassdoor, the Bay Area-based jobs site, looked at worker-submitted reviews of benefits in eight industries, and ranked finance No. 1 and tech No. 2. The finance industry bested tech in the overall ranking, as well as in parental leave and 401(k) benefits. But if you guessed that tech beat finance when it comes to free food, you’re right.

Considering the competition for talent and the improvements in perks such as parental leave that tech companies have been rolling out, it makes sense that the tech industry’s perks weren’t ranked too far behind finance, though.

On a scale of 1 to 5 (low satisfaction to high satisfaction), finance scored 3.72 for overall benefits, information technology 3.68 and manufacturing 3.64. The bottom two industries were retail and food services.

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For maternity and paternity leave, the top three industries were finance (3.77), tech (3.71) and education (3.60).

For 401(k) benefits, finance was No. 1 with a 3.83 rating, while tech was No. 5 with a 3.36 rating. The education, manufacturing and health care industries beat tech in this category.

“This comes as little surprise: Education and manufacturing are highly unionized industries with famously high-quality retirement benefit packages and the finance industry has significant expertise on 401(k) plan provisions,” according to Glassdoor. Tech, on the other hand, isn’t unionized and is commonly associated with stock options.

Glassdoor’s ratings are based on a look at more than 470,000 benefits reviews submitted anonymously to its site from June 14, 2015 to Sept. 20, 2015. It chose the eight industries that had the most active job openings. Glassdoor looked at the full distribution, not the average, of the ratings. For its full analysis, see its website.

 

Photo: Google software engineer Jiang Chen sits in a massage chair at Google’s headquarters in Mountain View, Calif., Friday, March 15, 2013. (AP/Jeff Chiu)

 

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