Amazon, Google and other tech companies gave massive hike to their employees
The appraisal season is here and if you are working for one of the big tech companies such as Amazon, Google or Microsoft, chances are that you will or have already seen a huge jump in your salary. Companies including Amazon, Google, Microsoft, Infosys and others have reportedly hiked the salaries of all their employees.
In the past two years, salary increments in various companies were deferred on the account of the pandemic and the economic downturn. However, business picked up during the second year of the pandemic, as people got accustomed to the new normal. Now to retain its top talents and attract talented candidates, companies are rewarding the employees. Earlier in 2021, top MNCs like Accenture, Infosys, TCS, Wipro and others hiked the pay of their employees and even promoted them.
This year, companies like Amazon, Google, and Microsoft have followed suit.
Amazon increased the salary cap from $160,000 to $350,000.
In February 2022, Amazon announced that it will double the maximum base salary of $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,” as per a memo to employees obtained by Geekwire read.
Amazon said that it increased overall compensation ranges for most jobs globally.
Google did not hike workers’ pay but increased salary of “top brass”
In January, it was reported that Google had hiked the salary of its top brass, but not the workers. As per reports, Google had hiked the base salary of at least four of its senior executives, hiking base salaries from $650,000 to $1 million.
The top executives, whose salaries were hiked, include Chief Financial Officer Ruth Porat; senior vice president Prabhakar Raghavan (in charge of Google search); senior vice president and chief business officer Philipp Schindler; and Kent Walker, president of global affairs and chief legal officer, according to the latest company 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 “nearly doubled the global merit budget” and it is allocating more money to people who are in the middle of their career.
“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 both 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 was obtained by Geekwire, read.
Nadella also told his employees that the company is making “a significant additional investment in our compensation programs”, which is way beyond its normal budget.