No they didn't. I talked with friends at Microsoft; what they did is increase the "merit" budget by up to double, and increase stock ranges by about 25%.
Merit is their annual increase in base pay, which is usually 2% - 4%, so doubling that means an increase in base pay of 4% - 8% which is still below the inflation rate.
Also, stock ranges are roughly 1/3rd of competition (see levels.fyi) so an increase of 25% is insultingly low (might as well be nothing at all).
None of the folks I talked to over there are happy about this and they said they'd been happier with no announcement at all instead.
Merit is their annual increase in base pay, which is usually 2% - 4%, so doubling that means an increase in base pay of 4% - 8% which is still below the inflation rate.
Also, stock ranges are roughly 1/3rd of competition (see levels.fyi) so an increase of 25% is insultingly low (might as well be nothing at all).
None of the folks I talked to over there are happy about this and they said they'd been happier with no announcement at all instead.