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

Upcoming Events

Subscribe

Get your essential reading delivered. Subscribe to Management Today