On Google’s second-quarter earnings call, Patrick Pichette, the company’s chief financial officer, just fielded a question about the state of recruiting in Silicon Valley.
The thrust of the question: Will Google keep having to pay top dollar for talent?
Last year, Google upped salaries 10% across the board. And we keep hearing about eight-digit cash-and-stock packages for top product talent.
Here’s what Pichette said:
The Valley continues to be hot! It’s a hotbed of innovation. We benchmark levels for our retention purposes. Googlers, the engineers that are here, the salespeople, they really make a huge difference to the velocity of the company. Despite what’s going on in the world, the Valley has not changed.
So there you have it. Silicon Valley, according to one of its blue-chip companies, continues to roll on.