Microsoft Considers Pay Raises To Stay Competitive (protocol.com) 29
Microsoft is reportedly thinking about bumping many employees' pay, following similar moves from other tech giants, in a bid to stay competitive with its rivals. From a report: Citing two unnamed sources, Insider reported Wednesday that Microsoft may announce a change "as soon as Monday." Microsoft has reason to worry about retention, Insider reports. In Microsoft's most recent "Employee Signals" poll, which employees reportedly answered in March, only two-thirds of respondents said they're getting "a good deal" in terms of what they're giving the company and receiving in return. Microsoft is reportedly concerned about employees leaving for (or being poached by) Amazon specifically. The company more than doubled its base compensation cap from $160,000 to $350,000 earlier this year, and has reportedly been handing at a record amount of stock grants -- $6 billion, to be exact.
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if people have more money to spend then something something inflation.
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well it's less money but the numbers are bigger.
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Ok..who is in a hurry to leave THAT kind of money?!?!
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Someone offering a base pay of 400k
Or someone offering 350k plus better benefits
Or someone offering 350k plus more autonomy
Or someone offering 350k plus your direct choice of what you work on.
All are viable reasons to walk away from 350k.
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You skipped over the word "cap".
If you signed onto MSFT as a system software engineer, they'd offer you at most $160k base plus stock to make up the difference. Now they can offer you less or no stock but set you base to something normal like $220k.
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stealing seems like a faster way to spur spending while also impacting the amount of wages the average joe can completely waste on savings or on paying off debt.
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You missed the "something something" part in my post. that was meant as a tongue in cheek on how increasing wages are getting disingenuously blamed for inflation.
Sadly your link to the Guardian has it wrong. While some businesses do benefit from inflation, most do not. Cherry picking the data doesn't identify a cause, it only identifies where suspicious profits seem to be made during this economic transition. Overall, padding their bottom line does not appear to be the cause of the current round of inflatio
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Tell my why this is a bad thing.
Well, you could look at the effect that huge trillion dollar companies can have on the marketplace when they can offer much larger salaries than other companies because of how big society let these companies get.
But that is a completely separate problem, and overall I feel it is a good thing when salaries rise closer to employees' worth.
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Tell my why this is a bad thing.
Gentrification: There are knock-on effects of creating a large disparity in incomes. Haves vs have-nots.
Inflation: If everyone has more money, costs of everyday things go up to match.
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Pay raises and other shenanighans (Score:1)
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Microsoft stopped that crap back in 2013 [shrm.org].
Archive (Score:3)
https://archive.ph/GYRSI [archive.ph]
No way! (Score:2)
So... like every other company then?!
Does this mean (Score:2, Troll)
we'll see a consequent uptick in productivity and better software coming out of Redmond, or are the people going to continue to push out the same crap they have been all this time?
Yay free market! (Score:2)
Yay competition among buyers (employers) to offer the best price to sellers (employees)! Yay capitalism at work!
(Boo inflation and a flooded money supply for contributing to this situation!)
I'm waiting for Senators Warren and Sanders to post about how wage inflation is caused by greedy employees. We need price caps on wages! Employees cannot demand higher starting salaries unless they can document uncontrollable increases in costs!
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Will these pay "raises"... (Score:2)
...help combat "raising" prices and the "raising" cost of living?
When you get a raise, it's called a pay RISE.
Screws over small companies (Score:1)
Well thanks big evil companies.
In the real world, in a small company, we can afford 100k for a programmer.
$350 k is more than what a CEO in a small to mid size company is paid, at least in Australia.
If Microsoft has to pay $360K to keep talent (Score:2)
It must be a hellhole of a place to work!
In other words: (Score:1)