I personally use /home/jenkins, with workspaces on non-root block device
(either whole /home is on sdb or there is bind mount for
/home/jenkins/whatever).
But does it really matter? :) It doesn't affect performance in any way,
it's only cosmetics, so really, do it as you please. Just document it so
that your colleges can administer it once you're gone.
More interesting question would be what kind of block storage and what
filesystems are best for jenkins slaves - assuming large git
repositories operations (bunch of small files and random io)... Do you
guys use ext3, ext4, xfs? Or maybe FreeBSD slaves with ZFS?