Stripe Is Offering $20k Bonus to Employees Who Relocate

0

Topline

Stripe is offering a $20,000 bonus to staff who pass a ways from San Francisco, New York City or Seattle nonetheless it comes with a 10% pay reduction, spokesman Mike Manning told Forbes, making the e-commerce and mobile price processor the most up-to-date tech company to enforce pay cuts for staff who chose to relocate to more tag efficient cities as faraway work policies are extended due to the the pandemic. 

STRIPE COLLISON

Stripe cofounders and siblings John and Patrick Collison in 2018.

Bloomberg

Key Facts

Stripe, which has more than 2,800 staff, has relied on faraway work for years and in Could perhaps well furthermore merely offered it could possibly perhaps hire no longer decrease than 100 faraway engineers, asserting faraway workers delight in helped the corporate address shut to customers so they will tailor Stripe’s merchandise accordingly. 

Stripe joins other expertise companies which delight in acknowledged they’ll carve the pay of staff who pass to more tag efficient cities, including the social media companies Fb and Twitter and endeavor tool companies VMware and ServiceNow, based on Bloomberg, which first reported the news.

Extra Background

Upright as many white-collar People are reconsidering the tag of living in costly cities if faraway work policies continue, many companies are also reconsidering costly space of job costs. Some companies delight in had market-based wage policies in space for years, which implies pay is adjusted based on the tag of living or tag of labor within the home. 

Tangent

The job search market Employed surveyed 2,300 tech workers and chanced on that 55% acknowledged they’d no longer be willing to unbiased catch a reduced wage if their employer made agree with money working from home everlasting. An amazing 90% acknowledged the same job could perhaps unruffled receive the same pay, no topic if the actual person works remotely, nonetheless 40% acknowledged they crimson meat up region adjustments. Extra than half, 53%, acknowledged they’d be “seemingly” or “very seemingly” to pass to a city with a decrease tag of living if allowed to agree with money working from home completely. 

Extra Reading

Stripe Workers Who Relocate Procure $20,000 Bonus and a Pay Minimize (Bloomberg)

Why Silicon Valley workers who relocate for faraway work face pay cuts (Fox Change)

2020 Narrate of Salaries File: Wage benchmarks and ability preferences (Employed)

Educate me on Twitter or LinkedInTake a look at out a few of my other work hereSend me a exact tip

Read More

Leave A Reply

Your email address will not be published.