Google will increase the salary of all employees by 10%

According to Business Insider, from January 1, 2011, Google increases the salary of all its employees by 10%. All employees will also receive a bonus of $ 1,000, with which the company will pay taxes. In addition, part of the annual bonuses will go into the base part of the salary, that is, it will become permanent.

Given that Google employs about 20,000 people, the $ 1,000 prize will cost the company $ 20 million. A salary increase will cost Google about a billion a year.

Business Insider writes that these changes suggest that Google is still a cool place to work. And everything indicates that the financial performance of the company is still very high.

The Wall Street Journal thinksthat it’s all about confronting competitors, especially Facebook. According to WSJ, approximately 10% of current Facebook employees are Google veterans.

Under the cut is a translation of Eric Schmidt's letter.

CONFIDENTIAL

ONLY FOR GOGLERS (EMPLOYEES WORKING FULL AND PARTIAL WORKING DAYS)

I am happy to share some very, very good news with googlers around the world. But first, let me say on behalf of the entire management team that we believe that we have the best employees in the world. Point. That is why I am glad to go to work every day - and I am sure that you feel the same. We want to make sure that you feel rewarded for your work, and we want to continue to attract the best people on Google.

That's why we decided ... to give you all a 10% increase starting January 1st. This is a salary increase for everyone and in all areas - everyone will receive a raise, regardless of their level, in order to recognize the contribution that each of you makes to Google.

That is not all. From the results of surveys and your feedback, we learned that salary is more important to you than any other payment component (i.e. bonuses and promotions). Therefore, we will transfer part of the bonus to your base salary, so now it’s a profit you can rely on every time you get paid. This is also starting January 1st. You will soon receive an email with more details about these changes. And the last ... today we announce that everyone will also receive a cash bonus .

Googlers, it is you who make this company great, and our goal is to recognize you for your contribution. Thank you for everything you do and for turning Google into a place where miracles happen.

Eric