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Microsoft suddenly increased the salary and bonus for employees

On May 16, CEO Satya Nadella announced that the company will decide to increase employee compensation in the context of an increasingly competitive job market and rising inflation.

“Employees stick with Microsoft because of its mission and culture, they find meaning in their work, their relationships with colleagues, and how they are rewarded. This global salary increase demonstrates our commitment to providing a competitive employee experience,” a Microsoft spokesperson said.

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Microsoft increases employee compensation

Mr. Nadella said the company is doubling its payroll globally and paying more for early- and mid-career employees and those in specific geographies. Additionally, the company is increasing its annual stock level by at least 25% for employees age 67 and younger.

In the first quarter, Microsoft increased research and development costs, including payroll and stock-based bonuses, by 21%. The company also stepped up investment in cloud computing to compete with rival Amazon.

Inflation rose 8.3% in April, remaining near a 40-year high. Meanwhile, the US economy continues to add jobs and the unemployment rate continues to fall. Many tech companies have fixed this problem with pay hikes. Alphabet (Google’s parent company) is tweaking its performance system to deliver higher wages for workers. Amazon also pledged to more than double the maximum base salary for its employees.

While major tech companies are raising wages to try and retain talent, some smaller companies like Carvana and Robinhood have been laying off staff amid the tensions of the Russia-Ukraine war and supply shortages slow down business.

Huong Dung (According to CNBC)

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