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Amazon, Google, Microsoft and others have increased employees' salaries
Amazon, Google, Microsoft and others have increased employees' salaries
Companies such as Amazon, Google, Microsoft, Infosys and others have reportedly increased the salaries of all their employees.
Appraisal season is here, and if you're working for one of the big tech companies like Amazon, Google, or Microsoft, chances are you're seeing or have already seen a significant rise in your salary. Companies such as Amazon, Google, Microsoft, Infosys and others have reportedly increased the salaries of all their employees.
In the last two years, salary increases in several companies were deferred due to the pandemic and the economic recession. However, business picked up during the second year of the pandemic, as people got used to the new normal. Now, companies are rewarding employees to retain their top talent and attract talented candidates. At the beginning of 2021, major multinational companies such as Accenture, Infosys, TCS, Wipro and others increased the salary of their employees and even promoted them. This year, companies like Amazon, Google and Microsoft have followed suit.
Amazon raised the salary cap from $160,000 to $350,000
In February 2022, Amazon announced that it would double the maximum base salary from $160,000 to $350,000. "Amazon will boost its maximum base pay to $350,000 for corporate and tech employees, from $160,000 previously, as part of an overall increase in total compensation intended to help recruit top talent and retain existing employees," according to a memo to employees obtained by Geekwire read. Amazon said it increased the general compensation ranges for most jobs globally.
Google did not hike workers' pay but increased senior managers' salary
In January, it was reported that Google had increased the salary of its top managers, but not that of the workers. Google had reportedly increased the base pay of at least four of its top executives, raising base salaries from $650,000 to $1 million.
Top executives whose salaries have increased include CFO Ruth Porat; Senior Vice President Prabhakar Raghavan (in charge of Google search); Senior Vice President and Chief Commercial Officer Philipp Schindler; and Kent Walker, president of global affairs and chief legal officer, according to the company's latest filing with the US Securities and Exchange Commission.
Microsoft doubled its global merit budget
Microsoft CEO Satya Nadella informed his employees in an email that Microsoft has "nearly doubled the global merit budget" and is allocating more money to mid-career people.
"Time and time again, we see that our talent is in high demand because of the amazing work you do to empower our customers and partners. Among the leadership team, your impact is recognized and deeply appreciated — and for that, I want to say a big thank you. That's why we're making long-term investments in each of you," Nadella's email to his employees, which Geekwire obtained, read.
Nadella also told his employees that the company is making "significant additional investment in our compensation programs," well beyond its normal budget.
