Amazon is more than doubling its maximum base salary for corporate workers, according to an internal memo.Amazon cited the competitive labor market as one of the factors behind the change.is boosting its maximum base salary for corporate workers, citing the competitive labor market as one of several factors behind the change.
The company said Monday in an internal memo to employees that it will now cap base pay for all white-collar workers at $350,000, a significant jump from its previous max of $160,000. Base pay is only a portion of employees' total compensation. This figure does not include restricted stock units, which typically vest in increments over several years, as well as other cash, such as sign-on bonuses. The company's compensation has historically been weighted heavily to stock.
"This past year has seen a particularly competitive labor market, and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive for attracting and retaining top talent, we decided to make meaningfully bigger increases to our compensation levels than we do in a typical year," according to the memo, which was first reported byIn addition to increasing base pay, Amazon said it's also increasing overall compensation...
They also boosted their subscription fee. so yeah this makes sense