Stat of the day: $1m

The amount of profit Google makes in an hour.

by Elizabeth Anderson
Last Updated: 09 Oct 2013
While millions of us brace ourselves for a pay freeze in light of the spending review, it’s a different story for workers at Google, who have had some rather cheering news.

The search giant said today it's planning to give its 23,000 employees a 10% pay rise in the new year, in an attempt to stop talented staff being poached by rival companies. And if that’s not enough to tempt them to hang around till then, Google’s also giving staff a holiday bonus of $1,000 this year. Jealous? 

Not that the company can’t afford to splash out on its staff. It has benefitted from a rise in ad spend from businesses, which has contributed to a 32% rise in net income in the third quarter. On average, Google makes a profit of $1m (£624,000) an hour.

Google’s concern about losing staff isn't unfounded, though - it’s estimated around 10% of Facebook employees are ex-Google staff. So it’s not that surprising that it's heavily arming itself in the Silicon Valley  'war for talent'. That said, MT is finding it quite difficult to understand why anyone would turn their back on a slide to the cafeteria, a games room, massage chairs, sleep pods, and all the other fun stuff Google's offices reportedly house...

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Could coronavirus lead to gender equality?

Opinion: Enforced home-working and home-schooling could change the lives of working women, and the business...

Mike Ashley: Does it matter if the public hates you right now?

The Sports Direct founder’s response to the COVID-19 pandemic has drawn criticism, but in the...

4 films to keep you sane during the coronavirus lockdown

Cirrus CEO Simon Hayward shares some choices to put things in perspective.

Pandemic ends public love affair with Richard Branson et al

Opinion: The larger-than-life corporate mavericks who rose to prominence in the 80s and 90s suddenly...

The Squiggly Career: How to be a chief strengths spotter

When leading remotely, it's more important than ever to make sure your people spend their...

"Blind CVs don't improve your access to talent"

Opinion: If you want to hire socially mobile go-getters, you need to know the context...