According to Business Insider
, Google is rewarding ALL of its employees with cash bonus of $1,000. Also, 10% salary raise starting next year 2011. Plus, employees got the chance to earn extra salary salary next year too!
All of this is detailed in what Business Insider says is a confidential memo sent from CEO Eric Schmidt to all Google employees. Below are the excerpts:
"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..."
Looks like Google is doing well with ad revenue and other services, they can afford to dole out big money to share with employees.
1. JC 2010-11-10 11:53
Rising tide raises all boats, so it is good for all IT workers in USA I guess, since Google sets a good example to follow.