I think its great. Forces Apple to pay their employees more.
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Some Apple Engineers Rewarded Up to $180K in Stock Bonuses as Incentive to Stay
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Apple's salaries are most certainly on-par with those of Google, Facebook, Microsoft and other large tech companies. If they weren't they wouldn't be able to attract top talent.
And others get a $10 million+ bonus
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I suppose that's why some walked out on Christmas eve? ?♂️
And more users trust Amazon and Google to handle their personal user data and internet browsing activity than Apple. 😜But meta is crowned as the worst company of the year.
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So this is why Apple has been buying back a lot of its own stock lately.
Not a bad strategy, particularly since they are also instituting "vesting time" into this. You can't just take the money and run; you have to stay for a period of time.
Not a bad strategy, particularly since they are also instituting "vesting time" into this. You can't just take the money and run; you have to stay for a period of time.
At 180k to 250k per year, no wonder California is unlivable for people not in tech on top of the crazy taxes. An Apple, Google or Facebook engineer could easily rent out an apartment in the Bay Area for 5 years and still have plenty to live on just one years salary. The landlords know this too.
I should have pursued software engineering and it wasn’t for a lack of trying. Just couldn’t get it. Anyway, I’m happy where I’m at, not starving, have a roof over my head, can take care of those close to me and still afford tech stuff when I need it and my bank account looks really healthy not to mention my credit score.
I should have pursued software engineering and it wasn’t for a lack of trying. Just couldn’t get it. Anyway, I’m happy where I’m at, not starving, have a roof over my head, can take care of those close to me and still afford tech stuff when I need it and my bank account looks really healthy not to mention my credit score.
I'm struggling to comprehend this as well. I honestly don't know what anyone makes anymore. When I was working in tech in the Bay Area in 2005-2009, I was making 45-55K a year and barely getting by. A company offered me double that to relocate to the east coast and do the same thing so I did. I've been there for 11 years and have received annual raises that have kept me from looking elsewhere. But to think if I had stayed in the Bay Area, I'd be making 4x as much now, that's kind of insane to comprehend. I was also there at the beginning of Web 2.0 when honestly the monetization of most companies and valuations were significantly less. A series A was around 1.5 million with valuations of 10-15 million for a site or widget that had millions of users. Now it's like 10-20X that. One solace for both of us comes down to work life balance. I clock out at 5PM now and get weekends off and holidays. Maybe the Apple culture has changed but when I lived in San Francisco, 80 hour work weeks was normal...then networking and conferences and working 6-7 days a week was normal. People didn't take vacations. It was 100% hustle culture. I'm not sure I'd like to still be doing that today.
Aren't there rumors Facebook is paying up to $500k for senior engineers these days? A $180k bonus doesn't seem that much
From what I get reading tweets from employees, Apple is way behind the salaries other FAANGs are paying, and mostly relies on the prestige to attract junior engineers
It's not "per year". The way the article reads is that it's a 1-time incentive payment that will take 4 years to vest.
Depending on how one looks at the details, the formerly great state of California is unlivable for a number of reasons, but none of them are due to Apple's compensation and incentive packages.
Then you are in a position of strength. So am I, except that actually am in IT and at times during my career, software engineers have worked for me, lol! Oh and yes, the really good ones have made more money than I have.
All those companies rushing into VR without running a proper Product Market Fit… We’re gonna laught when those products failed one after another.
TheYayAreaLiving 🎗️
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The same things were said about the iPads yet they became successful.
Same thing was said about VR yet they were unsuccessful.
I do agree that $180,000 seems somewhat low, especially for the likes of top end engineers that are employed direct for Apple. However, I don’t necessarily believe it’s just about a ‘number game’ of how much they can offer these engineers as a bonus, but merely showing appreciation and value of retaining these employees.
But then again, have these engineers ever been given bonuses before from the previous company they worked for or from Apple in the past? If this is their first major bonus, to me, that would be incentive to keep moving forward. There’s a lot of unknown factors about this article.
Has very little to do with Meta !
The main problem is that Apple's stock price has gone up so much the past 4-5 years.
That creates "significant" recruiting problems for Apple, & they know it !
In fact, everybody worth their salt knows it !
The gist: Instead of remaining focused on Recruiting Newbies, they appear to have pivoted to try keep more of the Engineers they have.
GOOL & FB/Meta have more upside potential than AAPL right now, which is generally common knowledge, & I'm sure that played into Apple's decision.
Disclaimer: EE who worked the entire 1990s in Silicon Valley, the last time things were similar to now, Engineering-wise.
The main problem is that Apple's stock price has gone up so much the past 4-5 years.
That creates "significant" recruiting problems for Apple, & they know it !
In fact, everybody worth their salt knows it !
The gist: Instead of remaining focused on Recruiting Newbies, they appear to have pivoted to try keep more of the Engineers they have.
GOOL & FB/Meta have more upside potential than AAPL right now, which is generally common knowledge, & I'm sure that played into Apple's decision.
Disclaimer: EE who worked the entire 1990s in Silicon Valley, the last time things were similar to now, Engineering-wise.
Actually it was a vocal minority that said that about the iPad. The VR and AR stuff is honestly looking like a tough cookie to crack. Apple was supposed to be savior of 5G and 3 years in, it’s still not making headway’s. Most Analysts are saying we probably won’t see the true benefit of 5G until 2027 and some say, probably not until 6G and 7G networks. This is being based on similar parallels to 2G and 3G Networks.
AR/VR will gradually replace both phones & PCs.
Every dollar spent now on early investment is worth 10-100x later.
Every dollar spent now on early investment is worth 10-100x later.
It’s more shocking that there are actual Apple employees leaving to sell their souls to the devil.
Oculus Quest 2 is the top selling gaming hardware on Amazon this holiday, beating the Nintendo Switch and all other gaming consoles.
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Quest App is also the most downloaded app on the App store this holiday.
VR not dead, its is exploding in popularity.
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