MAY 31, 2022
New Delhi: With the overall COVID-19 situation stabilising across the country, several companies including Amazon, Google, Microsoft and others have reportedly announced a massive salary hike for their employees. Since 2020, many firms had stalled appraisals on the account of the pandemic and the economic downturn. However, following the revival of economic activity to pre-pandemic levels, the business has started picking up and in a bid to reinstate top talents, companies have gone out of their way and rewarded them.
Amazon Employees’ Salary Cap Increased to USD 350,000 From USD 160,000
Amazon, an American tech giant has reportedly raised its base pay cap by more than double to $350,000, from its previous maximum salary of $160,000 for US staff. “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,” Geekwire reported quoting the company’s memo.
Google Increases Salary Of ‘Top Brass’
Earlier this year in January, Google hiked the salary of its top brass from $650,000 to $1 million. If reports are to be believed, at least four of its senior executives, including 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 received the salary hike.
Microsoft Doubled Its Global Merit Budget
In an email, Microsoft CEO Satya Nadella had informed his employees that the company “nearly doubled the global merit budget” and it is allocating more money to people who are in the middle of their career.
“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,” Geekwire reported quoting Nadella’s email to his employees.
Bumper Salary Hike, Bonuses For Infosys Employees
Similarly, tech giant Infosys Ltd has also announces bumper raises, promotions and bonuses to its employees to reverse record turnover levels as the company complete limited pool of workers in digital, cloud computing, artificial intelligence and data science. According to a report in the Mint, the company has decided to offer an average rise of 12-13 per cent to its employees in India. It will also give high-potential employees a hike up to 20-25 per cent including retention bonus.