South Africa tour of India 2019
CEO Of Microsoft Says The Company Is Almost Doubling Salaries!
Good news for Microsoft employees as they will get a salary hike soon. The big tech companies across the globe have been hiking their employees' salaries to retain top talents. The company CEO, Satya Nadella, confirmed the news. He told employees in an email that Microsoft “nearly doubled the global merit budget” and is allocating more money to people in the middle of their careers.
Microsoft isn't the only company to have announced a massive pay hike. Amazon, in February, doubled the maximum base pay to $350,000 for corporate and tech employees, from $160,000 previously. The compensation was higher to recruit top talent and to retain existing employees.
Moreover, Nadella informed the employees that the company is investing "significantly more" in its compensation programs than usual.
“We are also increasing the annual stock ranges by at least 25% for all levels 67 and below,” he stated. So the hike would mainly impact the employees who have joined the firm recently and the employees who are in the middle of their careers.
The employees who have reached Microsoft’s “partner level,” such as general managers, vice presidents, and other top executives, may not get as much higher as the other employees.
Back in January, Google had hiked the salaries of 4 of its top executives.
Comments