The appraisal season is almost here, and if you work for one of the big tech companies like Amazon, Google, or Microsoft, you are certain to notice or have already received a significant increase in your compensation.
Amazon, Google, top tech increases their staff compensation
Amazon, Google, Microsoft, Infosys, and other companies have reportedly increased their staff compensation.
Meanwhile, salary increases have been postponed in a number of companies during the last two years due to the epidemic and the economic crisis.
However, when people grew accustomed to the new normal, commerce picked up in the second year of the epidemic. Companies are now compensating employees in order to retain top personnel and recruit talented candidates.
Moreover, top MNCs such as Accenture, Infosys, TCS, Wipro, and others raised employee salaries and even promoted them earlier in 2021.
Amazon, Google, and Microsoft are among the corporations that have followed suit this year.
Amazon started in February 2022 that the maximum base wage will be increased from $160,000 to $350,000.
According to a memo acquired by Geekwire, “Amazon will increase its maximum base pay for corporate and tech staff to $350,000 from $160,000 before, as part of an overall rise in total compensation intended to assist recruit top talent and keep existing employees.”
In January, it was revealed that Google has increased the pay of its top executives but not of its employees.
According to sources, Google increased the base compensation of at least four of its senior employees from $650,000 to $1 million.
Furthermore, Microsoft CEO Satya Nadella informed his employees in an email that Microsoft “nearly doubled the global merit budget” and is allocating more money to people who are in the middle of their careers.
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