More than a third of Schwab study respondents say that equity compensation was the reason or one of the main reasons they accepted their current job. (Photo: Shutterstock)

Company stock is back as a big contributor to employees' net worth, according to a new study from Charles Schwab, and it's even more important to millennials than to other age groups.

In fact, more than a third of study respondents—39 percent—say that equity compensation was the reason or one of the main reasons they accepted their current job, and 75 percent overall say that equity compensation is an important benefit.

That's also even more the case for millennials, with 60 percent of millennials citing it as why they took the job.

Why is it so important?

Well, 45 percent of workers who say it's important believe it allows them to participate in the growth of the company, while 44 percent say it will help them significantly build or increase their wealth.

On average, says the study, nearly 30 percent of employee net worth is made up of equity compensation, and among millennials, the mean is 41.5 percent.

The next closest are GenXers, with a mean of 23.9 percent, and boomers trail at a mean of 19.3 percent.

In addition, nearly three quarters of employees own company stock outside of equity compensation or an ESPP, usually in their retirement account—again, with millennials in the lead, with 61 percent reporting a retirement account that has company stock in it.

As for the other workforce generations, 41 percent of GenXers and 30 percent of boomers have company stock in their own retirement accounts.

Sixteen percent of workers report having company stock in a brokerage account, while 13 percent say they own some in another retirement account, such as an IRA.

And while 81 percent of employees report rebalancing their investment accounts in the last year, just 65 percent say they take that equity compensation into account when doing their rebalancing.

Most employees' advice on how to manage equity compensation comes from their own research (37 percent).

Among those who use a financial advisor (24 percent), 76 percent say they're extremely or very confident making decisions about equity compensation with that help.

When it comes to financial wellness programs, not everyone's employer offers them—but among those who have access to a program, 61 percent use them—and 84 percent find them very or somewhat helpful in managing equity compensation.

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