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 year
In February, Amazon more than doubled its maximum base salary to $350,000 in response to employees who said they were receiving ‘comparatively low pay’
I had read in another article that the doubling was not to salaries, but rather to the budget for pay raises. In other words, raises would be double normal. Not sure which to believe, but a doubling of salary seems very high and not required in this environment. I’ve known people getting big pay raises for jumping ship, but not 2X!
I had read in another article that the doubling was not to salaries, but rather to the budget for pay raises. In other words, raises would be double normal. Not sure which to believe, but a doubling of salary seems very high and not required in this environment. I’ve known people getting big pay raises for jumping ship, but not 2X!
Don’t believe what you read in the Daily Mail. Your common sense is correct, the boost is for raises and bonuses. There is no way Microsoft is paying 50% below market rates.
The issue is that MSFT stock has been pretty meh for the last couple years, so what seemed like lucrative stock grants didn’t turn out to be and MSFT has had to kick in more cash money to retain employees. Similarly, Amazon recently raised its maximum salary from $186K to 350K. Previously, Amazon had made up the difference with stock grants but employees have seen their total comp decreasing so Amazon started kicking in more cash.
I had a cousin and two godchildren working away at MSFT, and they both left for greener pastures and better work environment. MSFT has more waking back up to do.
The issue is that MSFT stock has been pretty meh for the last couple years,
It looks to me like MSFT has about doubled in the past two years (Jan-to-Jan), and even with the bear market of late, has gained about 40% over the past 24 months. You can’t get that in an i-Bond.