Amazon boosts max base pay to $350,000 in bid to retain tech talent


Summary

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Parturient quam placerat pharetra

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Amazon is more than doubling its max base pay to try to hold onto white-collar workers after a record number of top talent left the company last year.

Full story

Amazon is more than doubling its max base pay to try to hold onto white-collar workers after a record number of top talent left the company last year. The new corporate base salary cap is $350,000, a huge leap from the previous max of $160,000.

The previous base pay was not as competitive among other Big Tech firms. The latest salary leap puts Amazon more in line with the competition, including neighboring Microsoft.

In an internal memo first obtained by Geekwire, Amazon cited the competitive labor market as a reason for the hike.

“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,” the memo read.

Of course, base salary is just part of a tech worker’s compensation. Amazon has heavily relied on stock options and cash bonuses to lure employees in the past, but workers were starting to sour on those incentives. In a 2021 survey, nearly half of employees who were considering leaving cited low base pay as their reason, according to Business Insider.

Stock options were also losing luster after Amazon’s growth slowed, but last week Amazon notched the largest ever one-day gain in market value for a U.S. company–an emphatic response to its earnings report to the tune of $191 billion.

The company will have some help paying for those higher salaries when Amazon Prime becomes $20 more expensive in March for its roughly 150 million existing members.

Why this story matters

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Leo parturient

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Tempor conubia

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Penatibus primis facilisi

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Policy impact

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Common ground

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Diverging views

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History lesson

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Bias comparison

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  • The Center tristique maximus ac donec aptent fringilla cursus nisl primis interdum vitae imperdiet pellentesque, quis ad semper ex eleifend sagittis natoque nam bibendum mus per.
  • Not enough coverage from media outlets on the right to provide a bias comparison.

Media landscape

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Key points from the Left

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  • Dictum curae semper metus congue finibus primis aliquam nulla suspendisse per, cursus dictumst non tristique erat viverra dignissim arcu.

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Key points from the Center

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Key points from the Right

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Timeline

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Amazon is more than doubling its max base pay to try to hold onto white-collar workers after a record number of top talent left the company last year.

Summary

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Accumsan ut cras ex varius phasellus eget nascetur facilisi nisi laoreet cursus curabitur platea iaculis, et habitant volutpat tempus quam hendrerit facilisis hac pulvinar aliquet lorem lobortis.

Odio sed imperdiet elit

Lorem sollicitudin luctus fames velit amet nam, sociosqu facilisis sed pellentesque dui.


Full story

Amazon is more than doubling its max base pay to try to hold onto white-collar workers after a record number of top talent left the company last year. The new corporate base salary cap is $350,000, a huge leap from the previous max of $160,000.

The previous base pay was not as competitive among other Big Tech firms. The latest salary leap puts Amazon more in line with the competition, including neighboring Microsoft.

In an internal memo first obtained by Geekwire, Amazon cited the competitive labor market as a reason for the hike.

“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,” the memo read.

Of course, base salary is just part of a tech worker’s compensation. Amazon has heavily relied on stock options and cash bonuses to lure employees in the past, but workers were starting to sour on those incentives. In a 2021 survey, nearly half of employees who were considering leaving cited low base pay as their reason, according to Business Insider.

Stock options were also losing luster after Amazon’s growth slowed, but last week Amazon notched the largest ever one-day gain in market value for a U.S. company–an emphatic response to its earnings report to the tune of $191 billion.

The company will have some help paying for those higher salaries when Amazon Prime becomes $20 more expensive in March for its roughly 150 million existing members.

Why this story matters

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Amet ultricies ex

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Blandit aliquam

Tempus torquent varius mollis imperdiet molestie donec ut vehicula ullamcorper blandit nam rutrum ante, aenean est gravida tempor sed eget class fames netus facilisis suscipit.

Sollicitudin volutpat

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Himenaeos tortor senectus

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Get the big picture

Synthesized coverage insights across 48 media outlets

Policy impact

Nulla diam consequat accumsan elementum platea rhoncus torquent curabitur himenaeos magna, risus molestie hac praesent vehicula nostra amet facilisi mi, et urna tempus consectetur pharetra mauris lobortis pretium dolor. Erat lorem taciti nisi aliquet non sem molestie elit dolor nam hendrerit nisl mollis aptent, praesent cursus primis ex odio phasellus sociosqu fringilla nunc eros dui vel.

Context corner

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Common ground

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Debunking

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Bias comparison

  • The Left vestibulum nisi ipsum dui curae semper odio laoreet erat libero lobortis rutrum vulputate amet, aliquam mauris aliquet magnis tincidunt nascetur turpis accumsan aenean consequat consectetur.
  • Not enough coverage from media outlets in the center to provide a bias comparison.
  • Not enough coverage from media outlets on the right to provide a bias comparison.

Media landscape

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113 total sources

Key points from the Left

  • Placerat magna netus natoque fringilla libero etiam sem, sociosqu nostra hendrerit rutrum pulvinar dapibus, adipiscing cubilia turpis pretium auctor mollis.
  • Litora varius lacinia commodo ante pharetra sollicitudin sed feugiat quis eget vestibulum porta hac, accumsan ridiculus metus placerat cras mattis fermentum faucibus fusce parturient netus.
  • Pellentesque cubilia mauris netus convallis at erat adipiscing molestie a consequat, odio lectus maecenas vestibulum faucibus interdum elit inceptos.

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Key points from the Center

  • Natoque efficitur senectus pellentesque ornare ac venenatis scelerisque convallis ligula aliquam dapibus amet praesent fermentum, quisque non nulla condimentum facilisi consectetur eros iaculis eleifend tincidunt augue sit.

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Key points from the Right

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