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In order to retain talents, Amazon will raise the basic salary ceiling for employees.

In order to retain talents, Amazon will raise the basic salary ceiling for employees.

In order to retain talents, Amazon will raise the basic salary ceiling for employees. The increasingly severe labor market competition in the United States has aggravated the shortage of talents in large enterprises. Amazon, the e-commerce giant, has substantially raised the maximum basic annual salary of some employees, and Amazon will also raise the basic salary ceiling for employees in order to retain talents.

In order to retain talents, Amazon will raise the basic salary ceiling for employees. On the morning of February 8, Beijing time, Amazon will raise the basic salary ceiling for employees, saying that fierce competition in the labor market is one of the factors that prompted the company to make this change.

In an internal memo sent to employees on Monday, Amazon said that it would raise the basic salary ceiling of all white-collar employees to $350,000, which is a great progress compared with the previous ceiling of $65,438+$6,000.

The basic salary is only a part of the total salary of Amazon employees, excluding restricted stock units (usually awarded incrementally in a few years) and other cash rewards such as signing bonuses. Historically, a large part of Amazon employees' wages came from stocks.

Amazon wrote in the memo: "In the past year, the competition in the labor market was particularly fierce. After thoroughly analyzing various options and weighing the economy of the company's business and the necessity of attracting and retaining top talents to maintain competitiveness, we decided to substantially increase the salary level. "

An Amazon spokesperson confirmed the authenticity of the memo but declined to comment further.

According to this memorandum, in addition to raising the basic salary, Amazon also said that it will increase the overall salary range of most jobs around the world, "the increase is much larger than what we have done in the past."

The background of Amazon's change is that the company is increasingly criticized by employees because employees think that Amazon's salary is lower than the market level. Last month, it was reported that Amazon's internal investigation report said that basic salary was recently listed as one of the top reasons why employees want to leave the company.

Compared with the past, the competition in the US labor market has become more intense, especially because the COVID-19 epidemic has given workers more chips to demand higher benefits and wages. In this case, more and more companies offer flexible working arrangements, such as telecommuting or mixed employment mode. This situation has prompted Amazon and other technology companies to admit that failing to provide these benefits may damage their ability to attract or retain talents.

Amazon was not among the top seven employers in terms of engineers' salaries last year, according to data provided by Levels.fyi, an American data collection website that tracks salaries in the technology industry. In contrast, the top engineers of the game company Roblox can earn more than $654.38+0 million a year, while the top engineers of Facebook can reach $900,000, but these figures include all forms of wages, not just the basic salary.

In order to retain talents, Amazon will raise the upper limit of employees' basic salary. The increasingly severe labor market competition in the United States has aggravated the shortage of talents in large enterprises. Amazon, an e-commerce giant, has more than doubled the maximum basic annual salary of some employees to $350,000 to help recruit top talents and retain existing employees.

Source: Yahoo News Network

On Monday morning, Amazon announced the plan to employees on its internal company website.

"In the past year, the competition in the labor market was extremely fierce. After a thorough analysis of various options, weighing the economy of our business and the need to remain competitive to attract and retain top talents, we decided to substantially increase our salary. " The company said in an internal post.

Based on this, Amazon will raise the basic annual salary ceiling of all white-collar employees to $350,000, which is significantly higher than the previous $654.38+$0.6 million.

The basic salary only accounts for a part of the total salary of Amazon employees. Other salaries include employees' restricted stock and cash rewards, such as signing bonuses.

It is expected that this move will make Amazon's basic salary more consistent with other large technology companies, including Google, Facebook, Apple and Microsoft. Historically, Amazon's basic salary has been lower than many of its peers.

Amazon has long rewarded employees with shares, betting that even if the basic salary is low, stock rewards can help the company recruit talents. However, as Amazon's share price was flat at 202 1, it only rose by 2.4%, far less than the 27% increase of the Standard & Poor's 500 Index, and this strategy began to lose its appeal. It is reported that the turnover rate within Amazon has reached a crisis level, with a record 50 vice presidents leaving last year.

In order to retain talents, Amazon will raise the basic salary ceiling for employees. On March 8, with the increasingly fierce competition in the labor market, Amazon, an American e-commerce company, announced that it would raise the annual basic salary ceiling of white-collar workers to $350,000.

In an internal memo sent to employees on Monday local time, Amazon said that the basic salary ceiling for all white-collar employees was $350,000, which was significantly higher than the previous ceiling of $65,438+$6,000.

The basic salary is only a part of the total salary of Amazon employees. This figure does not include other cash rewards such as restricted stocks and signing bonuses. Amazon employee compensation is usually linked to restricted stock granted to employees and will be paid every year during the employee's work.

Illustration: Amazon Seattle headquarters

Amazon said, "In the past year, the competition in the labor market was extremely fierce. After a thorough analysis of various schemes and repeated weighing of the economic situation, competitiveness and the need to retain top talents in our business, we decided to substantially increase the salary level of employees on the basis of previous years. "

An Amazon spokesperson confirmed the authenticity of the memo but declined to comment further.

In addition to raising the basic salary, Amazon also said that it will raise the overall salary level of most positions around the world. According to the memorandum, "the salary increase is much larger than what we have done in the past."

Amazon's move comes at a time when employees are increasingly criticizing Amazon because they think wages are far below the market average. Last month, an internal survey reported that basic salary was recently listed as one of the top reasons why employees want to leave Amazon.

At present, the competition in the labor market is more intense than before. More and more companies are also beginning to provide flexible working methods such as telecommuting or mixed office. This makes Amazon and other technology companies admit that if these benefits are not provided, it may affect the ability of enterprises to attract or retain talents.

Levels.fyi has been tracking the salary level of the technology industry, and the relevant data released by it shows that Amazon did not enter the top seven employers with the highest salary for engineers last year. Roblox top engineers earned more than $6.5438 million last year, while Facebook engineers earned more than $900,000. What needs to be clear is that it includes all forms of wages, not just basic wages.