Salaried workers at Microsoft, including senior leaders, will not be getting any pay raise this year.
The “most important lever” that decides compensation for almost all Microsoft employees was recently revealed by a company top executive to its workforce. Microsoft Chief Marketing Officer (CMO) Chris Capossela has reportedly told employees that the “most important lever for almost all our employees’ compensation upside is the stock price.”
The suggestion from the tech giant’s CMO reportedly came after frustration from employees regarding Microsoft’s decision not to give pay hikes this year. Salaried workers at Microsoft, including senior leaders, will not be getting any raise this year.
CMO Capossela wrote in a message to employees that “great quarterly results contribute to making the stock attractive which, in turn, drives everyone`s total compensation up,” a Fortune report said. “We are still investing heavily in our people as well as in our data centre capacity to hopefully position us well for the Al transformation,” he wrote.
A memo seen by The Verge shows that CEO Satya Nadella told Microsoft employees that raises will be given to hourly workers. “We are clear that we are helping drive a major platform shift in this new era of AI, and doing so in a dynamic, competitive environment while also facing global macroeconomic uncertainties,” Nadella said in the memo.
“We must maintain a leadership position in our at-scale businesses of today, generating enough yield to invest and lead in the next wave, while staying on the frontiers of both performance and efficiency,” he added.
Salaried employees, however, will still get bonuses and stock awards from Microsoft, it was reported. Microsoft announced it will let go 10,000 employees across the company earlier this year.
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