Google Employees Get 10% Raise and $1000 Bonus Rumors?

By on Nov 11, 2010 in Internet, Software, Technology Comments

Reports from several tech and news sites say that Google employees will get a hefty 10% pay raise next year (effective January 1, 2011) and US $1000 automatic bonus this year. With Google’s estimated 23,000+ employees this Google bonus will cost some US $23 million, while the Google pay raise may cost around US $1 billion per year. Industry watchers say these costs do not matter because Google have lots of money anyway.

Image Credit: Google.com

This Google bonus and raise rumors spurred mixed reactions from the industry observers with some very much amazed with Google’s generosity while others think that the Mountain View, California-based search giant is desperate in averting a possible brain drain because of employee defection to their competitors.

According to TechCrunch, they asked a Google spokesperson regarding this matter and they got a surprising reply from them. “While we don’t typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company,” a Google spokesperson told TechCrunch.

Time.com Newsfeed was quick to guess that the lofty offer have something to do with retention of Google’s staff.

Below is the email supposedly sent by Google CEO Eric Schmidt to all Google employees. It is now circulating in several tech and news sites but was reported first seen in a businessinsider.com post

CONFIDENTIAL: INTERNAL ONLY
GOOGLERS ONLY (FULL TIME AND PART TIME EMPLOYEES)

I’m pleased to share some very, very good news with Googlers worldwide. But first let me say, on behalf of everyone on the management team, that we believe we have the best employees in the world. Period. The brightest, most capable group of this size ever assembled. It’s why I’m excited to come to work every day–and I’m sure you feel the same way. We want to make sure that you feel rewarded for your hard work, and we want to continue to attract the best people to Google.

So that is why we’ve decided…to give all of you a 10% raise, effective January 1st. This salary increase is global and across the board–everyone gets a raise, no matter their level, to recognize the contribution that each and every one of you makes to Google.

There’s more. We’ve heard from your feedback on Googlegeist and other surveys that salary is more important to you than any other component of pay (i.e., bonus and equity). To address that, we’re moving a portion of your bonus into your base salary, so now it’s income you can count on, every time you get your paycheck. That’s also effective January 1st. You’ll be receiving an email shortly with further details about these changes to your compensation. And one last thing…today we’re announcing that everyone will get a holiday cash bonus, too.

Googlers, you are what makes this company great, and our goal here is to recognize you for your contribution, in a way that’s meaningful to you. Thank you for all that you do, and for making Google a place where magic happens.

Eric



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