Microsoft Is Almost ‘doubling’ Salaries To Retain Employees
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The increment month is here and there is some good news for Microsoft employees as they will get a salary hike soon. In an effort to retain staff and help people cope with inflation, Microsoft Corp. plans to “nearly double” its budget for employee salary increases and boost the range of stock compensation it gives some workers by at least 25%, Bloomberg reported.
The software giant said in a statement that the move will mainly affect “early to mid-career employees.”
“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 that was obtained by Bloomberg.
Microsoft salary package
Microsoft’s salary package is composed of base salary, bonus and stock.
Who all will benefit?
The changes will apply to a substantial part of the company’s workforce, which stood at 181,000 as of June 30, 2021.
Who all will be applicable for stock increase?
The stock increase will apply to employees at Level 67 in the company’s internal scale, or below, Nadella said, Bloomberg reported.
Level 67 is the last tier before an employee is made a company partner, putting them in a higher pay scale.
Salary of fresher at Microsoft
The Glassdoor website estimates that a new graduate working as a software engineer at Microsoft makes about $163,000.
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