Google to raise pay across the board

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Google to raise pay across the board: report

Web giant gives employees 10% raises as tech rivals vie for talent

By Dan Gallagher, MarketWatch

NEW YORK (MarketWatch) — Google Inc. is giving employees and officers raises of 10% across the board as it competes with technology-sector rivals for top talent, according to a Wall Street Journal report Wednesday.

Shares of Google moved down nearly 1% at $619.25 in early trading as the broader U.S. equities market pulled back. The search giant’s stock has surged by 38% in the last three months, putting it back on par with its level at the start of the year.

Mountain View, Calif.-based Google competes for employees not only with other large, deep-pocketed tech firms like Microsoft but with Silicon Valley up-and-comers such as Facebook and LinkedIn as well as upstarts such as FourSquare.

About 10% of Facebook’s employees are former Google staffers, the Journal reported.

The news may be a cause for concern among investors, who track Google’s spending closely. The company has been on a hiring binge, adding more than 1,500 in the September quarter alone, and its employee base has been pegged at about 23,000.

Google’s operating expenses climbed 34% in the third quarter from the same period last year.

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I can't wait for this to impact tech wages across the board. Google has a huge presence in the NYC area and they were never known as penny pinchers so the ripple effects will be awesome.

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Nearly One-Third of Employers Willing to Negotiate Salary Increases for Current Employees for 2011, CareerBuilder Survey Finds

CHICAGO, November 10, 2010 - With 43 percent of employers reporting concern that their top talent may leave their organizations when the economy improves, workers may have more leverage in compensation reviews. Thirty-one percent of employers said they are willing to negotiate 2011 salary increases with current employees. Half (51 percent) plan to leave some negotiating room when extending initial offers to new employees, with 21 percent willing to extend two or more offers to the same candidate. The nationwide survey from CareerBuilder was conducted between August 17 and September 2, 2010 and included more than 2,400 hiring managers.

Workers in certain industries may find their bosses more open to bargaining than others. Forty-five percent of IT employers say they are open to negotiating salary increases with current employees for 2011 followed by 39 percent in retail, 38 percent in sales, and 41 percent in professional and business services. Employers cited the following as the most effective ways for current employees to negotiate better compensation:

* Highlight specific accomplishments and results you achieved (48 percent)

* Know the range of salary you want and have justification for the increase (39 percent)

* Show an understanding of what is important to the company (37 percent)

* Come prepared with your history of performance reviews (26 percent)

[BishopM 114]

Pass me a broom...I'll work for Google

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Oops.....

The first rule of 10% Pay Raise Club is...

By Cade Metz in San Francisco •

Google has fired the employee who leaked the Eric Schmidt memo announcing a 10 per cent pay raise for the company's entire staff, according to a report citing multiple anonymous sources.

So, that pay raise isn't going to everyone after all.

CNNMoney reports that within hours of the memo being leaked to Business Insider and Fortune, Google sent out another internal memo saying the leaker had been terminated.

Google did not immediately respond to a request for comment.

In the leaked memo, Eric Schmidt also told Googlers that they'll receive a $1,000 bonus this year for Christmas expenses and that the company will pay any tax due on the bonus. He also said that from January 1, in addition to the 10 per cent hike, Google is moving a portion of each employees annual bonus into their base salary.

"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)," the memo reads.

"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... Thank you for all that you do, and for making Google a place where magic happens."

But this is our favorite bit: "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."

Of late, some rather big names have left Google for other outfits, including Google Maps co-daddy Lars Rasmussen. Lars told one paper that the company was getting so large, it's difficult to actually get things done. Some might also complain that Google is the sort of company that fires somebody for leaking a memo about pay raises.

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[qoute]In the leaked memo, Eric Schmidt also told Googlers that they'll receive a $1,000 bonus this year for Christmas expenses and that the company will pay any tax due on the bonus. He also said that from January 1, in addition to the 10 per cent hike, Google is moving a portion of each employees annual bonus into their base salary.

"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)," the memo reads.

"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... Thank you for all that you do, and for making Google a place where magic happens."

I like this part ...especially over the past few years where the majority of bonuses couldn't buy a happy meal sans toy!

[mawilson 2,133]

Google has fired the employee who leaked the Eric Schmidt memo announcing a 10 per cent pay raise for the company's entire staff, according to a report citing multiple anonymous sources.

So, that pay raise isn't going to everyone after all.

I don't see how the former implies the latter. They fired the person who leaked it, therefore it isn't true?