Too Fast Breaking news: Google raise Salary

Google has given all of it's employees $1,000 cash “holiday bonuses” and 2011 salary increases of at least 10%, According to Arrington, about 80 percent of Google employees stay when given a counter to a Facebook offer. Not everyone gets this type of employment bribe, but it’s also not unusual. And that’s really bad for the company. The 10% company-wide raise will take effect on January 1, 2011. People work for reasons other than money, unless they’re mercenaries. The problem with hiring specialized soldiers of fortunes is that theirs is a loyalty whose price must constantly be renewed. When a better offer arrives, the mercenary departs. In addition, Google will also give each employee an additional raise equivalent to 1X the employee’s target bonus for the year. And employees will be eligible for additional “merit increases” based on their individual performance. Google said its four top executives – Patrick Pichette, Chief Financial Officer, Global Business Head Nikesh Arora, Engineering-and-Research Chief Alan Eustace and product chief Jonathan Rosenberg- would each see their increase on pay from $500,000 to $650,000 next year. This represents a rise of 30%.

.while the base salaries of Chief Executive Eric Schmidt and co-founders Larry Page and Sergey Brin would remain at $1. The three executives have not participated in the executive bonus plan since 2004.

The four executive officers would also be eligible for bonuses of 250% of their base pay, up from the current 150%. The company further said that half of the bonus would be based on the individual performance and the remaining 50% would be based on internet ,search titan’s financial performance.

Besides, executives will also get equity awards worth a total of $55 million this year. This is a sign that despite being in business for longer than a decade, Google’s management style is immature and reactive. Thank you for visiting our site......