So, that means pay reduction for all employees this year right? unless there's suddenly a inflation->deflation transition?
I've been dealing with pay reductions via inflation for years. I probably lost 7% over the past 2 years.
Microsoft Freezes Salaries for 2023
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Re: Microsoft Freezes Salaries for 2023
#12Executives get most of their compensation from non-salary (stock grants). Are they sharing the pain (e.g. lower grants)?
Re: Microsoft Freezes Salaries for 2023
#13[flagged]
Why would you gate keep hacker culture because people want to get paid well?
Re: Microsoft Freezes Salaries for 2023
#14Reposting a comment from Reddit[1]: Microsoft has been bleeding talent for the last 5-6 years due to low compensation. It's why the SLT authorized a "correction" in pay last year that saw many people get a significant pay bump. Lots of new college hires have even stated that Microsoft's offer was the lowest offer they received. Levels.fyi tells basically the same story as well if you compare Microsoft to many other t…
Every time a company is one day telling the employees that they need to take a pay cut to keep the company "competitive" (and this pay freeze is actually a pay cut), and the next day they're doing a stock buyback and the C-Suite is giving themselves enormous performance bonuses they need to worry about unionization.
Re: Microsoft Freezes Salaries for 2023
#15Wondering how long it’ll take for other tech companies to copy this move and pretend that they independently arrived at these conclusions after their meticulous macroeconomic analysis.
Re: Microsoft Freezes Salaries for 2023
#16Correct headline: Microsoft cuts salaries for 2023. Even in a good economy inflation and cost of living increases are a thing.
if you saw that "correct headline" would you understand that the amount that people see on their paycheck would be staying the same?
I get where you're coming from, but the headline is clear in my opinion.
Re: Microsoft Freezes Salaries for 2023
#17[flagged]
Now you can bleed them from inside by selling company data and spying.
Re: Microsoft Freezes Salaries for 2023
#18It's kind of funny to see these announcements when their stock price is at a near all-time high.
What's funny about it. Employees also get stock options.
Re: Microsoft Freezes Salaries for 2023
#19[flagged]
For most people I think work is just work. The kinds of people who were into computers in the early days were arguably different than average; it was a fringe thing once upon a time. Today, it's just work. People need jobs, large corporations offer jobs.
I've eschewed these companies myself, but... I'm not sure it has been so wise all the time. I could have worked at a FAANG at one point, and the offer was astronomical compared to what I typically earn. The weird part is, I don't like social media because I have kids and I don't like what it's doing to kids. Yet I have kids to take care of, and that money would have made a meaningful difference to their security. So what's the right call to make?
It reminds me of Cato the Younger. He was steadfast to his virtues and principles with unwavering integrity, but it appears to have lead his life to ruin. Was it worth it? Do compromises make sense here and there?
I don't blame people for wanting to work for these companies. It isn't for me, I think, but I totally get it. No one deserves mass layoffs and tanking equity because they don't have retro-hacker cred.
Re: Microsoft Freezes Salaries for 2023
#20I wonder if this could be fallout from the ABK deal being blocked? If I understand correctly, they "owe" ABK $2.5-3B in the event that the deal doesn't close?