Under tremendous pressure to attract and retain talent, Microsoft is boosting worldwide compensation for employees to remain competitive with some of its Big-tech rivals, including Amazon and Meta.
The Redmond, WA company plans to nearly double its global budget for merit-based salary increases, and increase its range for annual stock-based compensation by at least 25% for employees at the senior director level and below, according to a GeekWire report.
“Specifically, we are nearly doubling the global merit budget,” Microsoft CEO Satya Nadella told employees in an email Monday morning. “Merit budgets will vary by country, based on local market data, and the most meaningful increases will be focused where the market demands and on early to mid-career levels. We are also increasing Annual Stock ranges by at least 25% for all levels 67 and below.”