Compensation InsightHow Microsoft Pays
Numeric career levels (L59–L80), dual RSU vesting tracks (4-year on-hire, 5-year annual awards), a 10%-discount quarterly ESPP, and record executive pay at a 480:1 CEO-to-median ratio.
~228,000 employees (FY2025) · NASDAQ: MSFT · Fiscal year ends June 30
Microsoft Corporation (NASDAQ: MSFT) is incorporated in Washington State and headquartered in Redmond, WA. It is a component of both the Dow Jones Industrial Average and the S&P 500; the fiscal year ends June 30 and the reporting currency is USD. At 30 June 2025 the company employed ~228,000 people full-time — ~125,000 in the US and ~103,000 internationally. Attrition is not publicly disclosed.
Subsidiaries & Disclosure
LinkedIn (own ladder: SDE / Senior / Staff / Senior Staff / Principal / Distinguished), GitHub (own numeric levels, e.g. 7/8), Activision Blizzard King, Nuance, ZeniMax, and Xandr keep separate or partially-harmonised comp structures. Equity is granted by Microsoft Corp under the company plan, and acquired entities map to the numeric ladder for internal transfers. Disclosure follows the standard SEC regime — DEF 14A (FY2025 proxy filed 21 Oct 2025), 10-K, 10-Q, 8-K, and Forms 3/4/5; the 2025 annual shareholders meeting was held virtually on 5 Dec 2025.
Career Levels
Microsoft uses a numeric level ladder from L59 (new-grad SDE) through Senior (L63–64), Principal (L65–67), Partner (L68–69) and Distinguished Engineer (L70), with Technical Fellow at L80 topping the technical track. Select any level to see compensation details for Redmond–Seattle.
Senior SDE
Terminal levelSenior Software Engineer, Senior PM, Senior Data Scientist
5–8 yrs experience
How the Ladder Works
- Below L59 sit pre-degree/non-degree entry bands L57–58 (leaked doc only; L57 base $83K–$108K on the Main scale). Above L70, L80 Technical Fellow tops the technical track — held by a very small number of engineers.
- Career stage profiles run Foundation/Support → Senior → Principal → Partner → Executive. The IC and management tracks branch at L63/64: IC continues Principal → Partner → Distinguished Engineer → Technical Fellow, while management goes Engineering Manager → Principal Group Engineering Manager → Partner Director of Engineering → CVP. Both tracks share the same numeric levels; non-engineering functions title L65–67 "Director".
- L63 is a recognised terminal level — no up-or-out. Progression is non-linear: "61→62 is minor; 65→66 is very difficult."
- Job postings use discipline labels (Software Engineering IC3/IC4/IC5, Applied Sciences IC5, Security Research M4) — not the numeric levels, and not an official equivalence.
Peer Comparison: Microsoft vs Big Tech
| Microsoft | Meta | Amazon | Apple | Nvidia | |
|---|---|---|---|---|---|
| L59–60 | L3 | E3 | SDE I | ICT2 | IC1–2 |
| L61–62 | L4 | E4 | SDE II | ICT3 | IC3 |
| L63–64 | L5 | E5 | SDE III | ICT4 | IC4 |
| L65 | L6 | E6 | Principal | ICT5 | IC5 |
| L66–67 | L7 | E7 | Sr Principal | ICT6 | IC6 |
| L68–69 | L8 | E8 | Distinguished | ICT7 (Dist.) | IC7 |
| L70 | L9–10 | E9 | VP / DE | Fellow | IC8 |
Total Compensation Range by Career Level
Base + target bonus + annualized RSU vesting for Redmond–Seattle, United States. All values in USD (Levels.fyi medians ±15%, exact published anchors kept).
Leaked Internal Pay Guidelines
Business Insider (Jul 2025) published Microsoft's internal May-2025 guideline bands for L57–L70. 'Main' is the Redmond baseline scale; 'High' (SF Bay Area / NYC) runs ~15–25% above Main. All values USD; Tier 3 (leak).
| Level | Main base | High base | On-hire stock | Annual stock | Signing bonus | Bonus target |
|---|---|---|---|---|---|---|
| 57 | $83,000–108,000 | $95,800–124,600 | $5K–13K | By career stage | $0–9K | N/A |
| 58 | $94,100–122,300 | $105,900–137,700 | $6K–20K | By career stage | $0–18K | 0–20% |
| 59 | $101,400–152,000 | $109,000–163,600 | $15K–120K | $0–20K | $0–18K | 0–20% |
| 60 | $110,200–165,200 | $120,200–180,400 | $20K–130K | $0–24K | $0–27K | 0–20% |
| 61 | $123,200–184,800 | $131,400–197,000 | $30K–150K | $0–36K | $0–36K | 0–20% |
| 62 | $132,600–199,000 | $143,600–215,400 | $40K–170K | $0–44K | $0–45K | 0–20% |
| 63 | $145,000–218,400 | $158,400–237,600 | $55K–220K | $0–64K | $0–45K | 0–30% |
| 64 | $156,500–234,700 | $172,000–258,000 | $70K–270K | $0–80K | $0–54K | 0–30% |
| 65 | $172,800–259,200 | $188,000–282,000 | $100K–320K | $0–130K | $0–90K | 0–40% |
| 66 | $183,200–274,800 | $202,800–304,200 | $180K–640K | $0–200K | $0–126K | 0–40% |
| 67 | $197,800–296,400 | $220,800–331,200 | $380K–850K | $0–420K | $0–180K | 0–60% |
| 68 | $212,800–319,200 | $236,000–354,000 | $500K–1.15M | $0–754K | Not listed | 0–90% |
| 69 | $225,600–338,400 | $247,000–370,800 | $657K–1.35M | $0–1.15M | Not listed | 0–90% |
| 70 | $252,000–378,000 | $272,000–408,000 | $827K–1.9M | $0–1.476M | Not listed | 0–90% |
Verified-Employee Correction
A verified employee corrected the annual-stock column: an effective meets-expectations refresh lands near the band midpoint (e.g. ~$65K/yr at L65 — the $130K band max is "incredibly rare"). Business Insider's extremes across the leak: highest package seen was $361,500 base + ~$1M annual stock + a $1.2M hiring bonus; the lowest base was $42,500.
US SWE Total Comp by Level · Levels.fyi Medians
| Level | TC median | Base | Stock/yr | Bonus |
|---|---|---|---|---|
| 59 | $166K | $128–131K | $21.3–29K | $5.8–10.3K |
| 60 | $179K | $140–141K | $26.9–28.2K | $8.2–12.7K |
| 61 | $184K | $152–155K | $27.2–27.9K | $4.9–12.8K |
| 62 | $211K | $163–167K | $28.1–29.6K | $12.4–14.1K |
| 63 | $237K | ~$185K | ~$35K | ~$17K |
| 64 | $268K | ~$200K | ~$48K | ~$20K |
| 65 | $327K | ~$220K | ~$78K | ~$29K |
| 66 | $413K | ~$245K | ~$125K | ~$43K |
| 67 | $533K | ~$275K | ~$200K | ~$58K |
| 68 | $830K | ~$320K | ~$430K | ~$80K |
| 69 | $1.05M | ~$370K | ~$560K | ~$120K |
| 70 | $1.08M | ~$400K | ~$550K | ~$130K |
Components beyond L62 are modelled from the TC mix, not directly exposed. A second Levels.fyi pull showed slightly higher medians at some levels (L59 $160–166K, L61 $184–196K, L62 $204–211K, L64 $268–281K, L65 $324–339K, L67 $533–611K). New-grad L59 first-year packages typically land $170K–$200K including sign-on.
Official US Job-Posting Base Bands
Microsoft Careers postings (Tier 1 for postings); base salary only.
Management Track · Levels.fyi
Top listed Microsoft salary: $1,471,000 (Software Engineering Manager, VP level).
Other Functions · US Medians (Levels.fyi)
Data & Applied Scientist pay ≈ SWE at equivalent levels.
Other Benchmarks
Microsoft-wide Levels.fyi median TC is ~$215,879 across all roles (US SWE median ~$220,266–$227,276), with reported packages spanning $51,687 (Geological Engineer) to $1,471,000 (Software Engineering Manager, VP level). Glassdoor holds 147,646 salaries across 7,656 titles with a 3.9/5 comp-and-benefits rating; Payscale puts average SWE base at ~$135,233 (2026) and Interview Query at ~$138,232 (5,997 data points). Against BLS SOC 15-1252, Microsoft base pay sits in the top decile of US software developers.
Compensation by Geography
The US is Microsoft's global pay anchor; every other hub is discounted nominally. Purchasing-power parity narrows the gap dramatically in India and moderately in the UK and Australia.
Nominal Multipliers vs Same US Level
Exact Market Anchors (Levels.fyi + Postings)
United States
Full level table above. Main vs High scale applies to base and stock.
United Kingdom
India
AmbitionBox/6figr/upGrad (CTC-weighted) diverge >15% from Levels.fyi and are reported separately: India SWE avg ₹37–52L, 70% of ~2,801 salaries between ₹37L–₹141L, freshers cited at ₹28–40 LPA.
Ireland (Dublin)
Australia (Sydney)
L65 sample is senior-biased (medium-low confidence).
Other posting-only markets
Global Footprint
US: Redmond/Puget Sound (HQ), Seattle/Bellevue, Bay Area/Mountain View (AI/R&D), NYC (sales + engineering + Experience Center), Atlanta, Dallas, Charlotte, and Reston/DC (government sales). EMEA: Dublin (EMEA HQ, >6,400 people including LinkedIn/ABK), London/Reading/Cambridge (Microsoft Limited, Microsoft Research), Germany, Netherlands/Amsterdam, Israel/Herzliya (R&D), Dubai/UAE. India: Bengaluru, Hyderabad (IDC), Noida, Gurugram, and Mumbai per the careers page — news reports add Pune and >22,000 India employees. APAC: Sydney, Singapore (APAC hub), Tokyo, China (Beijing + Suzhou R&D). Americas: Toronto/Vancouver, São Paulo.
Visa & Sponsored-Worker Data
2025 US H1B filings: 7,960 records with a median base salary of $172,830 — 61% between $150–200K, 19% above $200K, 20% at $100–150K. H1B data is base salary only (excludes RSUs, bonus, and ESPP), so it is a floor, not total comp.
| Job family | Median base | Records |
|---|---|---|
| Software Engineering | $174,000 | 4,856 |
| Product Management | $176,500 | 400 |
| TPM | $175,837 | 279 |
| Data Science | $167,161 | 231 |
| Applied Sciences | $177,045 | 224 |
| Tech Support Engineering | $132,488 | 191 |
| Silicon Engineering | $180,789 | 167 |
| Data Engineering | $173,181 | 130 |
| Cloud Solution Architecture | $168,500 | 81 |
| Product Design | $174,308 | 80 |
| Product Marketing | $169,375 | 52 |
| Financial Analysis | $145,000 | 51 |
MyVisaJobs FY2025: 9,362 LCAs plus 3,160 green-card labor certifications; 6,363 I-129 petitions (6,258 approved, 105 denied). Microsoft is NOT H-1B dependent and NOT a willful violator. UK: Microsoft Limited is an A-rated Skilled Worker sponsor (Microsoft Research Limited also listed for Skilled Worker / Global Business Mobility); sponsor mirrors report many 2024 Certificates of Sponsorship at £80K+. Singapore: EP qualifying salary is generally S$5,600/month for 2026 (rising with age; 2027 minimum S$6,000), S Pass minimum S$3,300/month — no Microsoft-specific tables. Australia (482/ENS), Canada (LMIA/GTS), and the EU Blue Card are threshold regimes with no Microsoft-specific pay data public.
Variable Pay Structure
The annual cash bonus is individual impact ('rewards' assessment) × business/company performance, paid annually in the September rewards cycle.
Typical Bonus Target by Level (% of base)
Targets vs Actuals
Mechanics
Executive Cash Incentives — FY2025
The financial component (Incentive Plan Revenue + Operating Income) paid at 117% of target; the operational assessment covers Security, Product/Customers/Stakeholders, and Culture. The CEO's award is weighted 70% financial / 30% operational, and Nadella's operational assessment scored 151.67%.
| Executive | Target | Paid | % of target |
|---|---|---|---|
| Satya Nadella | 300% of base | $9.555M | 127.40% |
| Amy Hood | 250% of base | $3.421M | 136.84% |
| Judson Althoff | 250% of base | $3.398M | 136.84% |
| Bradford Smith | 250% of base | $3.421M | 136.84% |
| Takeshi Numoto | 200% of base | $2.056M | 128.50% |
Equity & Stock Programs
All equity values in USD — MSFT is NASDAQ-listed. Two vesting tracks: on-hire RSUs (4 years) and annual stock awards (5 years, quarterly).
On-hire Stock Award (RSU)
Annual Stock Award (refresh RSU)
Special / Leadership Stock Awards (SSA / LSA)
ESPP (Employee Stock Purchase Plan)
Executive Performance Stock Awards (PSA)
2026 Stock Plan (omnibus)
Leaving & Retirement
Unvested RSUs forfeit on departure — with one exception. Under the retirement provision (age 55 with 15+ years of service, or age 65), grants older than one year continue vesting on schedule after you leave.
Granted vs Realised
MSFT rose ~23% in 2025 (2025 high $535.64) and doubled over 3 years, so realised comp materially exceeded granted values for recent cohorts — with reverse risk in a downturn. Watch the RSU "cliff" in years 3–5 as the 4-year on-hire grant rolls off before 5-year refreshers fully ramp.
Modelled Annual Vesting Shares
| Level | Shares vesting / yr | Per 4-yr on-hire grant |
|---|---|---|
| L59 | ~74 | ~297 |
| L62 | ~76 | ~303 |
| L65 | ~200 | ~799 |
| L67 | ~512 | ~2,049 |
| L70 | ~1,409 | ~5,634 |
Important Caveat
Modelled at MSFT ~$390.49 (3 Jul 2026) — an illustration, NOT official grant policy. Worked example: an L65 $65K refresh at ~$500/share ≈ 130 RSUs vesting over 5 years, ~26 shares/yr, ~6.5 per quarter.
The 2026 Stock Plan succeeds the 2001 and 2017 Stock Plans, which remained active through FY2025; the ESPP's 62M shares are reserved separately.
Executive Compensation — FY2025
USD · SEC proxy (DEF 14A filed 21 Oct 2025)
Median employee compensation was $200,972 in FY2025, up from $193,744 in FY2024. Proxy verbatim: "the ratio of the annual total compensation of our CEO to the annual total compensation of the median employee was 480 to 1."
CEO Context
- Base salary of $2.5M unchanged since 2019.
- FY2024 cash incentive was $5.2M after Nadella requested a reduction over cybersecurity incidents.
- More than 95% of CEO target comp is performance-based; ≥70% of NEO annual target comp is equity. His equity is 100% performance stock awards — per the proxy: "For fiscal year 2025, we set Mr. Nadella's target performance stock award at $50 million, a level unchanged since fiscal year 2022."
- Say-on-pay passed at 91.94% at the 5 Dec 2025 meeting — below Microsoft's historical high-90s norm after the record award.
| Name | Title | Base | Incentive | Stock | Other | Total |
|---|---|---|---|---|---|---|
| Satya Nadella | Chairman & CEO | $2,500,000 | $9,555,000 | $84,245,496 | $196,294 | $96,496,790 |
| Amy Hood | EVP & CFO | $1,000,000 | $3,421,000 | $25,037,360 | $23,191 | $29,481,551 |
| Bradford Smith | Vice Chair & President | $1,000,000 | $3,421,000 | $23,734,545 | $111,750 | $28,267,295 |
| Judson Althoff | EVP & CEO, Microsoft Commercial | $993,333 | $3,398,194 | $23,708,619 | $98,588 | $28,198,734 |
| Takeshi Numoto | EVP & Chief Marketing Officer | $800,000 | $2,056,000 | $9,005,380 | $15,250 | $11,876,630 |
Hood +14.27% YoY; Smith +20.60% YoY. NEO equity is 50% PSA / 50% SA (FY2025 targets: Hood/Althoff/Smith $19.5M each — 23,374 PSA + 23,374 SA shares; Numoto $7.1M — 8,511 + 8,511). Kevin Scott (CTO/EVP AI) is a Section 16 officer but not an FY2025 NEO; Christopher Young (EVP Business Development) is also an executive officer.
Summary-comp-table comparisons are imperfect (episodic grants + founder economics). Nadella's $96.5M is ~87% stock, PSAs only. Cook's FY2024 was $74.6M ($58.1M stock + $12M incentive + $1.5M other). Huang's ~$49.9M includes $38.8M stock, $6M incentive, and $3.5M security/other — his first base raise in a decade. Zuckerberg's ~$25.1M is mostly security on a $1 salary. Pichai's base is $2M with episodic triennial grants ($226M in 2022; a new multi-year package reportedly up to $692M; 2024 security $8.27M). Jassy's $2.1M SCT reflects a $365K base — earlier multi-year grants vest outside the SCT.
Leadership Pay at a Glance
FY2025 NEO totals scaled against the CEO, plus how the board itself is paid.
Board of Directors Pay
A majority of director pay is equity, with the RSU award granted at each annual meeting. The total retainer was raised from $360K to $375K around Dec 2024 — the first base-cash increase since FY2022. Directors must hold ≥3x the base retainer in MSFT and retain 50% of net shares until the threshold is met. Nadella is unpaid as director/Chairman. Sandra Peterson is Lead Independent Director; Carlos Rodriguez chairs the Compensation Committee (not standing for re-election), with Walmart CFO John David Rainey nominated. Independent comp consultant: Pay Governance LLC.
FY2025 Director Totals
Governance
Clawback: SEC/Dodd-Frank-consistent recovery of incentive comp on restatement. Executives and directors are barred from hedging, pledging, or margin-trading MSFT.
Insider Trades & ESOP Activity
USD · SEC Form 4 filings, Jul 2025 – Jun 2026. Sell-to-cover rows are code-F tax-withholding dispositions on vested awards.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 2, 2025 | Satya Nadella | Chairman & CEO | Sell-to-cover | 122,363 | $506.69 | $62,000,000 |
| Sep 3, 2025 | Satya Nadella | Chairman & CEO | Sell | 149,205 | $504.68 | $75,300,000 |
| Nov 3, 2025 | Bradford L. Smith | Vice Chair & President | Sell | 38,500 | $518.64 | $19,967,707 |
| Jun 1, 2026 | Alice L. Jolla | Chief Accounting Officer | Sell-to-cover | 413 | $450.24 | $185,949 |
| Jun 1, 2026 | Amy Coleman | EVP & Chief Human Resources Officer | Sell-to-cover | 434 | $450.24 | $195,404 |
| Jun 15, 2026 | Amy Coleman | EVP & Chief Human Resources Officer | Sell-to-cover | 36 | $390.74 | $14,067 |
Inside Nadella's September 2025 Form 4
Filed 4 Sep 2025: on 2 Sep, 308,870 PSA shares vested at $0 (3-year performance period ended 30 Jun 2025, from the Sep 2022 grant), lifting holdings to 1,062,420; a code-F disposition of 122,362.866 shares at an average $506.69 (~$62.0M) covered tax withholding. On 3 Sep he sold 149,205 shares in the open market in tranches at weighted averages of $502.39–$507.66 (~$75.3M) under a Rule 10b5-1 plan adopted 7 Mar 2025, leaving 790,852.378 shares held directly plus ~109,720 indirectly. Trailing 5 years: 9 transactions, zero open-market buys.
Context on Insider Activity
Between 5–11 Jun 2026, multiple directors logged stock-award and tax/ownership events of 0–276 shares at $0 — routine retainer-equity mechanics. Substantial institutional holders are Vanguard, BlackRock, and State Street (13F/13G; percentages not captured); Nadella is reported as the top individual insider holder, and Microsoft is widely held with no promoter structure. A full EDGAR reconciliation for 1 Jul 2025 – 4 Jul 2026 was not performed, and Hood/Althoff/Numoto/Scott transaction detail was not pulled.
Benefits & Perks
Benefits for Redmond–Seattle, United States
Retirement & Savings
Health & Insurance
Family, Time & Perks
Global Framework & Pay Equity
Microsoft frames benefits globally around health & wellbeing, future savings, time away, family care, education & growth, giving/volunteering match, and employee resource groups — layering discretionary top-ups on each country's statutory base (US FICA/ACA/FMLA/ COBRA, UK auto-enrolment, Ireland PRSI/PRSA, Australia super, Canada CPP/EI + RRSP match, Germany statutory social insurance, Singapore CPF for citizens/PRs). The global D&I report cites $1.00 : $1.00 pay by comparison group after controls for women and racial/ethnic minorities.
Performance Reviews & Pay Progression
Microsoft abolished stack ranking in 2013. The current model pairs 'Connects' — ongoing check-ins documenting impact — with an impact/rewards assessment that feeds the September rewards cycle.
The Rating Model
Review Calendar
Promotion Timeline & TC Uplift (Modelled)
How Progression Really Works
Promotion to L63 is relatively straightforward for strong performers, then slows markedly — 65→66 is very hard, and 64→65 tilts equity-heavier. Promotions step base pay into the next band. L63 is a recognised terminal level with no up-or-out pressure. Community verbatim: "I was a L61 for only six months. I was a L65 for six years." IC and management reviews differ in emphasis (technical impact vs people/org leadership); new-grad confirmation follows the standard cycle and probation is local-contract. From 2026, the rewards process is simplified — stock decoupled from bonus, options cut from nine to five.
Key Nuances & Insights
Nearly everyone gets stock, but the seniority skew is steep — equity becomes strategic from Senior/Principal and dominant at Partner and executive levels, where annual awards dwarf base and bonus combined.
Every other hub is discounted nominally against the same US level, while the SF Bay Area/NYC 'High' scale runs 15–25% above the Redmond 'Main' scale on base and stock.
India offers land at roughly 25–40% of US nominal pay at the same level, yet sit at the top of the local market — and purchasing-power parity narrows the effective gap substantially (to ~0.55–0.75x).
More than 95% of CEO target compensation is performance-based and at least 70% of NEO annual target comp is equity — the structure, not the cash, is the story.
Median employee comp of $200,972 is high because Microsoft's workforce mix is high-skill and high-wage, not because any single program is unusually generous.
Decoupling stock awards from cash bonuses gives managers more retention discretion but reduces predictability for employees modelling their September rewards outcome.
Recent Compensation News & Changes
US employees at senior-director level (L67) and below with age + tenure ≥ 70 offered voluntary exit packages, alongside continued AI-driven workforce reallocation.
Stock-award options reduced from nine to five and stock awards decoupled from cash bonuses, giving managers more retention discretion at the cost of predictability.
Microsoft Australia's September 2025 gender-pay statement (published March 2026) reports rewards-eligible women earning $1 : $1 total pay versus men at the same title, level, and tenure.
Layoff tallies vary by framing: the ">15,000 in 2025" headline disaggregates the year's waves, while alternative counts reach 27,000+ across 2023–2025. Layoff and buyout concerns tied to AI investment (sales, consulting, Xbox) continue into 2026, and Nadella called the cuts "weighing heavily" — the "enigma of success." The Sep 2024 special cash award was announced 30 Jul 2024 in a memo from CPO Kathleen Hogan, alongside funded merit, bonus, and stock budgets; the return-to-office phase-in began in Puget Sound in September 2025.
Methodology & Data Notes
Sources & confidence. Tier 1: SEC filings (FY2025 DEF 14A proxy, 10-K, Forms 4) and official job postings. Tier 2: aggregators (Levels.fyi, Glassdoor, Payscale, H1B records). Tier 3: leaks and press (Business Insider's May-2025 internal guideline bands). Two phase-3 data variants were reconciled with identical numeric anchors; the local-currency discipline of the refactored variant was followed, and generated boilerplate locations without source anchors were dropped.
Band construction. Total comp = base + target bonus + annualized RSU vesting, built from Levels.fyi medians ±15% with exact published anchors kept verbatim. US bases use the leaked Main (Redmond) and High (SF Bay/NYC) scales; non-US bases scale each level's US base/TC ratio (0.76 at L59 declining to ~0.29 at L70) against local TC medians, except London L64 which uses the real IC4 posting (£74,700–£122,600). Modelled cells (low confidence): London L60–61 and L63–64 interpolated between exact L62/L65 anchors, L66–70 scaled from the exact L65 anchor with the L67 high pinned to the £336K Levels.fyi UK top; Dublin L60/61/63 interpolated and L66–70 scaled from exact L65; Bangalore L60/61 and L65–70 converted from USD medians at 95.56; Hyderabad = 0.92 × Bangalore except exact L61/L62 anchors; Sydney converted at 1.4418 with L69/70 using a 0.518 US factor from L68; India L69/70 use a 0.331 US factor; SF Bay/NYC L69/70 use 1.12x/1.10x US. L57–58 and L80 are excluded from the interactive bands (no TC data) but documented in the level and leaked-band tables.
FX reference (4 Jul 2026). Per USD: AUD 1.4418 · INR 95.56 · GBP 0.7487 · EUR 0.8744 · CAD 1.4198 · SGD 1.2916 · JPY 161.25. Older approximations from a second research pass (INR 85.5, GBP/USD 1.28, EUR/USD 1.09, USD/CAD 1.37) were not used; exact INR anchors are kept verbatim, so the rate choice only affects modelled cells (~3%).
Key discrepancies resolved. L65–67 titles follow community consensus (Principal, with L67 "Partner track") over a source labelling L67 Partner and L69 VP/Distinguished. Jassy's $2.1M follows Amazon's summary-comp-table methodology (a $40.1M "compensation actually paid" figure was rejected); Cook uses FY2025 ($74.3M) over FY2024 ($74.6M). The 480:1 pay ratio and $84,245,496 CEO stock figure are proxy verbatim (CEOPayWatch computes 603:1 and splits $82.0M stock + $4.8M options); say-on-pay is the 91.94% 8-K result (a 94.0% figure reflects a prior vote). US L61/L64/L65/L67 medians use point values corroborated at the low end of a second account's ranges. India L59 uses the Levels.fyi TC-weighted ₹2.4M (AmbitionBox's CTC-weighted ₹28–40 LPA fresher figures diverge >15% and are reported, not averaged); Bengaluru L64 uses the more precise ₹9.795M over ₹9.71M. Brad Smith's Nov 2025 sale uses the precise $518.64 / $19,967,707 (consistent with the ~$518.49–$519.21 tranche averages). The 401(k) match cap (50% up to 6% vs up to the IRS limit) and ESPP eligibility wording (global per plan/country vs US-only) remain flagged. The buyout population "senior-director level (L67) and below" reconciles both source phrasings, and Nadella's AI-code quote is kept verbatim over the "up to 30%" paraphrase.
Not public. The official level catalogue; exact per-level pay policy per country; Levels.fyi sample sizes; official grant-size policy; hike % by rating; rating labels and calibration distribution; non-US insurance specifics; a full Form 4 reconciliation; 13G ownership percentages; burn rate; per-level medians for Canada, Israel, Germany, Netherlands, Singapore, Japan, China, and Brazil; India EPF/NPS company top-ups; the exact 401(k) cap; promotion timing (modelled only); the lateral-vs-internal gap; onsite/expat allowances; and attrition.