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Google gives all staff 10 per cent pay rise


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All Google employees are to receive a $1,000 (£620) Christmas bonus and a 10 per cent pay rise from 1 January, in a clear indication of how successful the firm has been.

The news was delivered by chief executive Eric Schmidt via an internal memo, posted by Business Insider.

"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," Schmidt is reported to have written.

"So that is why we've decided to give all of you a 10 per cent raise, effective 1 January. This increase is global and across the board. Everyone gets a raise, no matter their level, to recognise the contribution that each and every one of you makes to Google."

Google has 23,331 employees, according to the last official count. Based on the assumption that the average Google employee earns the UK average wage of £23,450 a year, the firm's annual salary bill will rise by £547m next year - although this cost is likely to be higher as Google no doubt pays above industry standard rates.

Google will also give each employee an additional raise equivalent to their target bonus for the year.

A spokesman told V3.co.uk that "while we don't typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company".

Google is keen to retain its workers after Erick Tseng, a former senior Android product manager, was lured away to become the head of mobile products at Facebook.

Google has cash assets of £20.79bn, so is clearly capable of giving everyone a bonus.

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