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From Facebook to Reddit, how Silicon Valley salary adjustments could redefine remote worker earnings

To adjust pay, or not to adjust pay? That is the question employers are asking as they rethink their compensation strategies in response to the new era of remote work.

Social media site, Reddit last week became the latest in a slew of tech companies to take a decisive stance on the issue, announcing that it would not cut the pay of its 600 U.S. employees regardless of where in the country they choose to live.

The call contrasts with those from Facebook and Twitter, which have said they will cut the pay of employees who choose to relocate away from their head offices in the pricey San Francisco Bay Area. Payments platform Stripe said it will offer employees $20,000 to help with moving costs but will then cut pay by 10%. Meanwhile, Software maker VMWare said it could reduce relocating staff salaries by up to 18%.

That has sparked debate about whether these moves will set a precedent for how salaries are determined going forward, and what that could mean for employees working in different industries and locations. CNBC Make It spoke to some experts to find out more.

“Covid-19 is a gamechanger for the workplace,” said David Lewis, CEO of HR consultancy OperationsInc, a human resource consulting firm. “The ability to work from home is going to be … a huge competitive issue, and compensation is part of that.” Read more via CNBC

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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