Amazon will raise its maximum base pay for corporate and tech workers to $350,000 from $160,000, Geekwire reports.
Why it matters: The move is intended to bring Amazon in line with competitors like Google, Facebook, Apple and Microsoft, and to help ensure the company retains employees and recruits top talent.
- The war for tech talent has seen average tech salaries exceeding six figures for the first time last year, according to a recent study by jobs platform Dice.
What they're saying: “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,” Amazon wrote in an internal memo to employees obtained by Geekwire.
- The company said it plans to increase "overall compensation ranges for most jobs globally, and the increases are much more considerable than we’ve done in the past.”
- The company said changes to base pay caps and compensation ranges will "affect every employee differently."
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