100% Salary Hike For All Amazon Employees! Google, Microsoft Announces Massive Perks, Bonuses To Retain Employees
For the private job employees, here comes the best time of the year as the appraisal season is knocking on the door.
Salary Hike For Tech Giants
The salary increments in various companies were deferred in the last two years.
Basically, it was affected by the pandemic and the economic downturn.
But it seems that the business picked up during the second year of the pandemic, as people got accustomed to the new normal.
So now, many employers are in a race to retain their top talents and attract talented candidates.
And what could be the best way other than rewarding the employees.
Prior to this, top MNCs including Accenture, Infosys, TCS, Wipro and others hiked the pay of their employees and even promoted them in 2021.
But, this year major companies like Amazon, Google, and Microsoft have followed suit.
Increase In salary Cap
Recently, the e-commerce giant, Amazon announced that it will double the maximum base salary of $160,000 to $350,000 In February 2022.
As per a memo sent to its employees, “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,”.
Beside this, the online ecommerce platform said that it increased overall compensation ranges for most jobs globally.
Salary Hike For Top Brass
In the case of Google, it had hiked the salary of its top brass, but not the workers.
It seems that Google had hiked the base salary of at least four of its senior executives, hiking base salaries from $650,000 to $1 million, according to the sources.
This list of individuals 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 whose salaries were hiked.
The news was revealed in the latest company filing with the US Securities and Exchange Commission.