Is Amazon Raising Their Pay Again
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An Amazon employee got an 11% raise as part of a companywide pay hike, but says it's not plenty: 'It'due south just non worth it to stay here whatever more than'
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Amazon is doubling its base pay cap as office of a major overhaul of its compensation plan.
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Some employees expected major raises simply told Insider the pay bumps were underwhelming, especially when taking aggrandizement into account.
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Ane Amazon veteran got an 11% raise but still says, "It's just non worth it to stay here any more."
Amazon is doubling its maximum base pay to draw new hires and retain talent, but some employees say the subsequent raises nonetheless aren't enough to keep workers at the visitor every bit it faces a wave of attrition.
Insider reported Midweek that some of the due east-commerce giant's employees are disappointed with the company'south compensation overhaul. Several workers told Insider the raises don't amount to much of a heave in the end, given tape inflation, which recently hit a 41-twelvemonth high. Prices for consumer goods take risen nearly 8.5% in the past year, according to the Agency of Labor Statistics.
Ane company veteran, a not-technical program managing director with well-nigh 10 years of experience, said they've started paying more heed to calls from recruiters at other tech companies considering their 11% raise was lackluster.
"It's just not worth it to stay here any more," the person said.
They added that their raise was made up largely of restricted stock units that belong in 2 years.
Increases to base of operations pay ranged anywhere from 3% to lx% depending on office and tenure, co-ordinate to pay statements viewed by Insider and interviews with current employees.
In Feb, Amazon appear it would raise its base of operations pay cap from a maximum of $160,000 for well-nigh roles to $350,000. The visitor cited "a particularly competitive labor market" in proverb most jobs would see new compensation ranges.
The news comes after employees listed bereft base pay as the 2d-virtually common reason they're looking to leave Amazon in an internal survey conducted final year. In a mass exodus in recent years, at least 45 vice presidents and senior executives departed in the 15-month flow beginning at the start of 2020.
Read the total Insider story hither.
Exercise you work at Amazon? Got a tip?
Contact reporter Eugene Kim via the encrypted messaging apps Indicate or Telegram (+1-650-942-3061) or email (ekim@insider.com).
Contact reporter Ashley Stewart via the encrypted messaging app Signal (+1-425-344-8242) or e-mail (astewart@insider.com).
Contact reporter Katherine Long on the encrypted messaging app Signal (+ane-206-375-9280) or email (klong@insider.com).
Read the original article on Business Insider
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Source: https://finance.yahoo.com/news/amazon-employee-got-11-raise-211836227.html
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