Evaluation season has arrived and if you’re working for one of the big tech companies like Amazon, Google or Microsoft, chances are you’ve seen or already seen a huge jump in your salary. Companies including Amazon, Google, Microsoft, Infosys and others have reportedly increased the salaries of all their employees.
In the last two years, salary hikes in various companies were postponed due to the pandemic and the economic slowdown. However, business boomed during the second year of the pandemic, as people became accustomed to the new normal. Now companies are rewarding employees to retain their top talent and attract talented candidates. Earlier in 2021, top MNCs like Accenture, Infosys, TCS, Wipro and others increased the salaries of their employees and 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 pay from $160,000 to $350,000. According to a memo to employees obtained by GeekWire, “Amazon will increase its maximum base pay for corporate and tech employees from $160,000 to $350,000 as part of an overall increase in total compensation to recruit and support top talent.” Helps retain existing employees.” Reading.
Amazon said it has raised the overall compensation limit for most jobs globally.
Google did not increase the salaries of employees, but increased the salaries of “top executives”
In January, it was reported that Google had increased the salaries of its top executives, but not employees. According to reports, Google had increased the base pay of at least four of its senior executives, raising the base salary from $650,000 to $1 million.
The top executives whose salaries were hiked included Chief Financial Officer Ruth Porat; Senior Vice President Prabhakar Raghavan (in charge of Google Search); Philip Schindler, Senior Vice President and Chief Business Officer; and Kent Walker, president of global affairs and chief legal officer, according to the latest company filings with the US Securities and Exchange Commission.
Microsoft doubles its global qualification budget
Microsoft CEO Satya Nadella informed his employees in an email that Microsoft “nearly doubled the global qualification budget” and that it is allocating more money to those who are in the middle of their careers.
“Time and time again, we see that our talents are in high demand, as you do amazing work empowering our customers and partners. Among the leadership team, your impact has been recognized and deeply appreciated. – and for that I want to say a big thank you. That’s why we’re making a long-term investment in each of you,” Nadella’s email to his employees, obtained by GeekWire, read.
Nadella also told his employees that the company was making “a significant additional investment in our compensation programs” that far exceeded its normal budget.