Apple offers a $180,000 USD bonus to top talent in a bid to stop them from joining Meta. Meta Platforms Inc, owners of Facebook is taking a forward leap in the industry with major change announcements while Apple hopes to retain its talented workforce by shelling out extra.
Bloomberg reported Apple issued some extra stock bonuses for its top engineers ranging from $50,000 USD to even $180,000 USD in some cases. Apple is rewarding its high-performing engineers between $80,000 USD to $120,000 USD in shares. The report further suggests, “Apple is waging a talent war with companies in Silicon Valley and beyond, with Meta emerging as a particular threat.”
Earlier Meta hired 100 ex-Apple engineers with Apple being unable to lure key Meta talent over to their company. With the development in augmented and virtual reality experiences and products including headsets and smartwatches, the rivalry between Apple and Meta has been cemented. As both companies plan to release some major updated hardware with the above-mentioned features in the next couple of years.
Apple is offering extra compensation packages in the form of bonuses, apart from their base salary, cash bonus, and stock. The bonuses offered are up to $180,000 USD, given to 10 to 20% of Apple’s engineers across multiple divisions.
Earlier Apple also announced it will issue an additional $1,000 USD bonus to all corporate, retail, and technical-support employees to enable them to purchase home equipment to continue to work from home during the pandemic.