Amazon raises roof on salaries
Amazon, in a bid to draw even with Big Tech competitors, is more than doubling its maximum base salary for white-collar workers to $350,000. The e-commerce giant — also the country’s second-largest private employer — said compensation ranges for most corporate jobs globally would rise as a result of the move. Citing tightness in the labor market, the company said it would continue to award sign-on bonuses and restricted stock units.
In an example of employee turnover at “crisis” proportions, more than 50 vice presidents left Amazon last year, says Bloomberg, citing media reports.
The latest U.S. jobs report showed wages continuing to rise nationally, in response to faster inflation but also potentially fueling it.
Huge Amazon Base Pay increase is very interesting 🤔
I am curious to see how the other Giant Tech and #fortune500companies react to this news. Is this Amazon’s response to the wave of the #GreatResignation
Some areas to watch out for in the coming weeks:
1️⃣ Will this be the differentiator that lets #Amazon stand apart from most other companies or did we just raise the new normal salary for all of the Large Tech Sector across the US.
2️⃣ What does this mean for current Amazon employees? Do they get a #salary adjustment?
3️⃣ Is Amazon doing anything to bring their #workculture one notch up and make that also a differentiator or do they plan to play this one using just the financial advantage they are able to provide considering the every increasing revenue they have generated for themselves?
What do you think? Leave a comment below