Apple Inc. gave unusual and vital inventory bonuses to some engineers in an effort to retain experienced while trying to avoid moving to tech rivals like Facebook owner Meta Platforms Inc. The company briefed some of the engineers in the crystal last week. design, hardware, and software selection and operating groups of off-cycle bonuses that are issued as limited stock units according to people familiar with the subject. Apple is offering a rare unexpected bonus of up to $ 180,000 to its top software engineers to keep them from moving to major tech companies like Facebook’s parent company, Meta, according to a new report.
Apple Inc. provided some engineers with unusual and vital inventory bonuses to preserve experience and avoid going over to the side of technology rivals. Apple occasionally rewards employees with additional cash bonuses, but people said the latest fund grants were atypical and surprisingly timely. Apple sometimes gives employees extra cash bonuses, but people say the size of the recent premiums on stocks has been atypical and unexpectedly planned. The stock has a four-year maturity, which provides an incentive to stay with the iPhone maker and has a range of $ 50,000 to $ 180,000
Meta has been stepping up efforts to get engineering expertise across Apple’s hardware divisions, software division, augmented reality, and synthetic intelligence. At the same time, Apple’s drum on its return to the office shook some employees, leading to desertions of engineers. The bonus is not part of Apple’s regular employee compensation packages, which include base salary, stock bonuses, and promotional discounts. Following the removal of TBEN to the office, Apple announced that it would offer bonuses of $ 1,000 to all employees of the company, retail, and technical support to purchasing home equipment. The cost of some of the awards was equal to the annual scholarship awarded to some technical managers. The bonuses, which come in the form of fund grants that last four years, are part of the escalating battle for engineers.
In an effort to attract, hire, and retain employees, companies are offering sign-on bonuses, higher salaries, free college tuition, flexible hours, and other perks. The bonuses were not disclosed in advance, which surprised the recipients. In response, banks offer incentives as well as premiums and bonuses. It looks like Apple is concerned about the thousands of new employees Meta will need to build its Metaverse. The social media giant that operates Facebook, Instagram, and WhatsApp has seen significant increases in wages as it tries to refocus on hardware and the so-called metaverse. Apple Hires Public Relations Manager for Metas AR.
Apple stock is up 36% this year, bringing the company’s market capitalization to nearly $ 3 trillion. They were received by about 10-20% of the engineers of the corresponding divisions. For many college graduates, 2021 will end with massive bonus payments and increases in areas such as finance, law, and technology. A LinkedIn search for “software engineer” from the US shows 213,259 listings at the time of writing.