Microsoft announced it will nearly double its budget for merit-based employee pay increases, while also increasing its annual stock options by 25%. The plans were detailed in an internal email from CEO Satya Nadella, and outline a range of measures to retain staff in a volatile labor market.
According to a report, “Level 67” refers specifically to senior managers and everyone below. General managers, execs, VPs, and CVPs won’t be included in the budget. Amazon and other tech companies have made similar moves in recent months, as the demand for engineers, developers, and other tech positions becomes more competitive.
Microsoft is hiring hundreds of staff practically around the clock, as it seeks to grow Azure, Xbox, and its other platforms.
