As competition for talent intensifies, Amazon doubles its highest base salary to $350,000!

Amazon is reportedly raising its maximum base salary in the U.S. from $160,000 to $350,000 per year to cope with the growing competition for talent during the pandemic.

In addition to the United States, Amazon is also increasing overall employee compensation worldwide. Data shows that Amazon's internal staff turnover rate is as high as 35%, and 50 vice presidents left last year, setting a record high.

Amazon has been under fire for its below-average wages, and employees have asked leaders to address the pay issue at a company town hall meeting. Amazon said the labor market has been extremely competitive over the past year, and they decided to increase pay after weighing the economics of their business with the need to remain competitive to attract and retain top talent.

It is not yet clear how many Amazon employees can benefit from this change. This salary change also coincides with Amazon's annual performance evaluation season this week. It is reported that Amazon will adjust salaries in this employee performance evaluation, and promoted employees will also receive additional stock compensation.

Editor✎Irene/

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