Tuesday 17 May 2022 01:37 AM Microsoft will DOUBLE its budget for workers' salaries and boost stock ... trends now
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Microsoft is planning to 'nearly double' what it pays its workers as it scrambles to prevent staff from leaving the company for arch rivals, like Amazon.
Microsoft's salary package is comprised of a base salary, bonus and stock but a company survey recent suggested that those working for the tech giant are far from happy.
In February, Amazon more than doubled its maximum base salary from $160,000 to $350,000 in response to employees who said they were earning 'comparatively low pay' compared to workers at their closest competitors.
Although specific figures were not mentioned, Microsoft has stated that it could result in a bump of at least 25% for some staff with 'early to mid-career employees,' being those in line for the pay increase.
Microsoft is considering significant pay raises in an effort to address growing dissatisfaction and stop employees from leaving for competitors like Amazon. Pictured, the regional headquarters of the computing company in the Silicon Valley, Mountain View, California
Glassdoor estimates new graduates working as software engineers at Microsoft make about $163,000.
The bump in pay comes after an internal company poll suggested only 66% of employees agreed that they get a 'good deal at Microsoft', when it comes to pay and their own self-worth.
Responses to the question are down from 73% from last year's survey.
'As we approach our
