Amazon, Google and other Tech Giants nearly Double Salaries of their Employees

While major companies and startups are indulging in layoffs and underpaying their employees, Tech Giants Amazon. Google and Microsoft have taken it upon themselves to value their talents by re-evaluating and increasing the compensation of their employees.

Because of Covid, the business had suffered and hikes were not a very dominant trend in the corporate world. However, now that things are back to normal, and companies' profits have started gaining momentum, these organizations have decided to retain their talent by paying them the compensation their top talent deserves. Owing to inflation, and rival companies offering competitive compensations, it has become crucial for the organizations to pay competitively if they want to retain their top talent.

Tech and E-Commerce Giant Amazon have increased the salary cap from $160,000 to $350,000. The maximum base salary has been simply doubled for all the corporate and tech employees. This has been done to help recruit top talent and retain top employees within the organization.

Microsoft CEO Satya Nadella informed his employees in an email that Microsoft “nearly doubled the global merit budget” and it is allocating more money to people who are in the middle of their careers.

“Time and time again, we see that our talent is in high demand, because of the amazing work you do to empower our customers and partners. Among the leadership team, your impact is both recognized and deeply appreciated — and for that, I want to say a big thank you. That’s why we’re making long-term investments in each of you,” Nadella’s email to his employees read.