If you enjoy working for far less pay than Microchip's competitors this is the place for you. The corporate mentality is to pay employees low wages and then make it up with stock options. This worked great back in the late 90's tech era, but fails miserably today.
The review cycle is a joke. Microchip routinely withholds annual merit increases until a time they deem appropriate. If you were supposed to get a raise in say April of this year and business wasn't booming then you receive your review and they tell you what your merit increase would have been...but withhold that until sometime in the future. However, if you have not received that merit increase before the next review cycle (very common) your next raise doesn't take into account the money you would have received so you lose out in the long run. They usually toss out a bonus stock grant down the line to appease you, but over the long haul you make a few hundred dollars on that stock and miss out on the long term compounding of direct wages. I did not receive raises 3 out of the 7 years I worked there.
All that really matters to Microchip is the gross margin. Which is why raises and money are routinely withheld. Sanghi has a reputation to maintain, at least that is the way I see it. And if the gross margin isn't improving every quarter he is very unhappy. Gross margin is upwards of 60% there, which is outstanding, until you see what they do to achieve that.