As part of an overall increase in total compensation to retain existing employees and to recruit top talent, Amazon has announced a boost in its maximum base pay to $350,000 for corporate and tech employees, from the previous $160,000 (via GeekWire).
In the past, Amazon has kept its base pay lower than many of its peers have. However, this latest boost brings the e-commerce giant’s base pay in line with other big tech companies, including Google, Facebook, Apple, and Microsoft.
According to Amazon, it is “increasing overall compensation ranges for most jobs globally, and the increases are much more considerable than we’ve done in the past.” At the same time, Amazon has also announced changes in the timing of compensation for employees when they are promoted.
“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,” the company said in the internal post.
Amazon revealed the plan to employees this morning in a post on its internal corporate site.
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