In a nutshell: The number of layoffs in the tech industry this year has dwarfed those from other areas. We've also seen some extreme cost-cutting measures implemented. But a new report shows that if you want a well-paid job, some of the best options are still at technology giants such as Alphabet and Google.
The report on company pay comes from the Wall Street Journal, which analyzed data collected by MyLogIQ on the median salaries of 278 firms in the S&P 500.
Despite the large number of layoffs and global economic turmoil, annual compensation - salary, bonuses, and benefits - rose more in 2022 than in 2021, with more than 100 companies raising salaries by 10% or more.
$414,500
$279,902
$247,678
The highest median salary is the $414,500 paid by New York City-based real estate investment trust Vici Properties. Comprising just 22 employees, it owns a number of casinos across the US - the salaries of hourly workers employed by its properties aren't included in the figures.
The second place belongs to Facebook owner Meta Platforms, which pays almost $300,000. The $280,000 median wage Google parent Alphabet pays staff puts the company in third place.
Meta has laid off over 20,000 people since November last year, while Alphabet's 12,000 layoffs led to global protests.
Amazon, which had a revenue of $514 billion last year, was 43rd on the list with its median salary of $34,195. That includes the massive number of warehouse workers at the company.
The companies with the lowest median wages include retail firms such as Yum Brands ($10,398), Ross Stores ($9,968), and Aptiv ($8,139), which have minimum-wage workers. Walmart is on the lower half of the list ($27,000), even though it raised salaries by 7% last year.
The WSJ also worked out how much more CEOs earn compared to the average worker at their company. Alphabet CEO Sundar Pichai's top pay package of $226 million gives him 808 times more than the company's median pay. Mark Zuckerberg's $28 million is 91 times higher, while Vici Properties' CEO Edward Pitoniak gets 28 times more, though it was 273 times higher last year.
Go here to read the rest:
As layoffs surge, tech giants still lead when it comes to high salaries - TechSpot
