comscore Microsoft to give a massive salary bump and boost stock compensation for employees
News

Microsoft CEO Satya Nadella to 'nearly double' the budget for its employee salaries to retain them

Microsoft will "nearly double" the employee salary budget and increase the stock compensation up to 25 percent.

Satya Nadella

Microsoft CEO Satya Nadella has announced that the company will increase the pay of its employees to stop bulk resignations. It has also announced to boost the range of stock compensation it gives some workers by at least 25 percent to retain them and help them battle inflation, reported Bloomberg. Also Read - Microsoft kills Internet Explorer: Take a look at its brief history

Microsoft CEO Satya Nadella announces salary bump for employees

As per the memo shared by Nadella with his employees, Microsoft will “nearly double” its budget for employee salary increases. These employees will mainly affect “early to mid-career employees.” The company reveals that the salary budget increases will vary by country, and “the most meaningful increases will be focused where the market demands.” The increase in stocks, on the other hand, will be applicable to employees at “Level 67” in the company’s pay scale and below. Also Read - Microsoft is killing Internet Explorer after 27 years of service

As per the official statement in the company memo obtained by Bloomberg, “Time and time again, we see that our talent is in high demand because of the amazing work that 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”. Also Read - Xbox and Bethesda Games Showcase 2022: Minecraft Legends, Forza Motorsports, Persona series and more

The company did not disclose the pay figures that could reveal the new compensation levels in dollars. According to Glassdoor, a new graduate working as a software engineer will fetch around $163,000 (approx Rs 1,26,55,200).

Microsoft further added, “While we have factored in the impact of inflation and the rising cost of living, these changes also recognize our appreciation to our world-class talent who support our mission, culture and customers, and partners.”

Not just Microsoft, Amazon also announced to give a pay hike to its employees back in February this year. Amazon “doubled the maximum base pay to $350,000 for corporate and tech employees, up from $160,000.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: May 17, 2022 1:35 PM IST
  • Updated Date: May 17, 2022 1:36 PM IST



new arrivals in india