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Amazon plans to more than double base pay cap for employees

by Mike Robinson

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© Reuters. The Amazon logo can be seen at its JFK8 distribution facility in Staten Island. New York. U.S. Nov 25, 2020. REUTERS/Brendan McDermid.

(Reuters] – Amazon.com Inc. (NASDAQ:) intends to increase its base salary to $350,000 from $160,000, which was the previous highest for U.S. employees. According to a memo, this is more than twice as much.

According to the company, the global e-commerce firm will boost the average compensation of most workers worldwide.

The memo stated, “This past 12 months has been a highly competitive labor market.” It also said that it was important to “maintain competitive for the purpose of attracting top talent.”

Amazon raised its starting salary for US operations employees to over $18 per hour last year against a backdrop of tight labor markets in America.

Amazon will examine the pay of employees who are promoted at the time they get their promotion. If necessary, it may also give stock awards for the first year to make sure that the employee is in the new pay range.

Insider first reported the news.

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