Microsoft will DOUBLE its budget for workers’ salaries and boost stock compensation by at least 25%
Microsoft plans to fight inflation and retain workers by DOUBLING its budget for staff salaries and boosting stock rewards by at least 25%
Microsoft is considering significant pay raises in an effort to address growing dissatisfaction and stop employees from leaving for competitors like Amazon In an internal company poll only 66% of employees answered favorably to a question about whether they get a ‘good deal at Microsoft’ Responses to such the question are down from 73% last yearIn February, Amazon more than doubled its maximum base salary to $350,000 in response to employees who said they were receiving ‘comparatively low pay’
<!–
<!–
<!–<!–
<!–
(function (src, d, tag){
var s = d.createElement(tag), prev = d.getElementsByTagName(tag)[0];
s.src = src;
prev.parentNode.insertBefore(s, prev);
}(“https://www.dailymail.co.uk/static/gunther/1.17.0/async_bundle–.js”, document, “script”));
<!–
DM.loadCSS(“https://www.dailymail.co.uk/static/gunther/gunther-2159/video_bundle–.css”);
<!–
Microsoft is planning to ‘nearly double’ what it pays its workers as it scrambles to prevent staff from leaving the company for arch rivals such as Amazon.
The firm’s salary package is comprised of a base salary, bonus and stock but a survey recent suggested those working for the tech giant are far from happy.
In February, Amazon more than doubled its maximum base salary from $160,000 to $350,000 in response to employees who said they were earning ‘comparatively low pay’ compared to workers at their closest competitors.
Although specific figures were not mentioned, Microsoft stated it could result in a bump of at least 25% for some staff with ‘early to mid-career employees,’ being those in line for the pay increase.
Microsoft is considering significant pay raises in an effort to address growing dissatisfaction and stop employees from leaving for competitors like Amazon. Pictured, the regional headquarters of the computing company in the Silicon Valley, Mountain View, California
‘Time and time again, we see that our talent is in high demand because of the amazing work that you do,’ Chief Executive Officer Satya Nadella said in a memo seen by Bloomberg
Glassdoor estimates new graduates working as software engineers at Microsoft make about $163,000.
The bump in pay comes after an internal company poll suggested only 66% of employees agreed that they get a ‘good deal at Microsoft’, when it comes to pay and their own self-worth.
Responses to the question are down from 73% from last year’s survey.
‘As we approach our annual total rewards process, we are making a significant additional investment this year to compensate our employees globally,’ the company said in statement on Monday.
In an internal company poll only 66% of employees answered favorably to a question about whether they get a ‘good deal at Microsoft’. The Paris HQ is pictured, above
‘While we have factored in the impact of inflation and rising cost of living, these changes also recognize our appreciation to our world-class talent who support our mission, culture and customers, and partners.’
‘Time and time again, we see that our talent is in high demand because of the amazing work that you do,’ Chief Executive Officer Satya Nadella said in a memo seen by Bloomberg.
The increase in stock will be applied to employees who are at ‘Level 67’ in the company’s pay scale company’s internal scale, or below.
The tier is the final level before an employee is then eligible to be made a company partner which automatically bumps them up to a higher pay scale.
The salary increases also vary depending on the country with ‘the most meaningful increases focused where the market demands.’
Microsoft is having to compete with all manner of tech giants including Google and Facebook together with Silicon Valley startups.
Microsoft is having to compete with all manner of tech giants including Google and Facebook together with Silicon Valley startups.
Computing fields have also widened and become increasingly competitive in the worlds of cybersecurity, artificial intelligence, metaverse and cloud computing.
In addition, the pandemic has seen many workers relocate and reconsider their employment options.
Microsoft’s announcement comes as the end of its fiscal year approaches on June 30.
Nadella explained how the company already boosted budgets for promotions together with stock in the current fiscal year to ‘recognize exceptional impact and support retention of our most competitive talent pools.’
