4 MN Cos. Among “Best Employers In America”
In a report released Tuesday, four Minnesota companies were ranked among the top 50 “Best Employers in America” based mainly on salary and job satisfaction.
Business Insider used data gathered by salary information company PayScale to evaluate Fortune 500 companies’ performance on six criteria: high job satisfaction, low job stress, high work schedule flexibility, high job meaning (whether employees believe their job is making the world a better place), experienced median pay (which only includes employees who have at least five years of experience at the company), and salary delta (how the median pay compares to other companies in the same industry).
Each criterion was weighted equally except for the experienced median pay, which was weighted twice as heavily to place extra emphasis on companies that pay their employees well.
The highest-ranking Minnesota company was Minneapolis-based Xcel Energy, Inc., which was 30th on the list by providing a median salary of $80,600, a job satisfaction rating of 78.8 percent, and a job flexibility rating of 84.8 percent.
Little Canada-based St. Jude Medical, Inc., followed directly behind Xcel at 31st, with a median salary of $84,300, job satisfaction rating of 75.3 percent, and job flexibility rating of 74.1 percent.
Plymouth-based Mosaic, a potash and phosphate fertilizer provider, ranked 41st on the list, with a median salary of $72,100, job satisfaction rating of 82.4 percent, and job flexibility rating of 76.5 percent.
Fridley-based Medtronic, Inc., ranked 48th, with a median salary of $88,500, job satisfaction rating of 74.9 percent, and job flexibility rating of 80.6 percent.
First on the list for the second year in a row was New Jersey-based biotech company Celgene Corporation, with a median salary of $116,000, job satisfaction rating of 90.9 percent, and job flexibility rating of 96.8 percent.
Celgene was followed, respectively, by Massachusetts-based biotech firm Biogen Idec, Texas-based engineering chemicals firm Celanese Corporation, New York-based consumer products company Colgate-Palmolive, and Texas-based oil and gas company Anadarko Petroleum Corporation.
Although Google dropped from 2nd on the list last year to 8th this year, it was still the highest-paying company to make the top 50 with a median salary of $127,000. Click here to see the full list.