What you need to know
- Employees at NVIDIA reportedly work round the clock through the week but get generous pay packages in return.
- NVIDIA is now the most profitable chip brand and was briefly the world’s most valuable company, ahead of Apple and Microsoft.
- A former marketing employee at the company says she used to attend up to 10 meetings per day, which often turned into shouting matches.
What defines a company’s success? While this is a broad topic, most executives would list the employees’ performance index and morale as key determinants. Hard work also plays a crucial role.
Amid concerns that AI is rapidly claiming jobs from professionals, Microsoft’s latest Work Trend Index report indicates employers won’t recruit anyone without an AI aptitude. Contrary to popular belief, AI is creating more job opportunities, but company executives are concerned that there isn’t enough talent for the vacancies in their organizations.
According to former Google CEO Eric Schmidt, the company is losing to Microsoft, OpenAI, and NVIDIA in the AI race due to its work-from-home policy. “Google decided that work-life balance and going home early and working from home was more important than winning,” stated Schmidt. “And the reason the startups work is because the people work like hell.”
Despite Microsoft and OpenAI’s vast resources and talent, the CEO says NVIDIA will win the AI race due to the high demand for AI chips. NVIDIA is the most profitable chip brand in the world and was briefly the world’s most valuable company, ahead of Apple and Microsoft.
How did it get to achieve these feats?
NVIDIA employees “work like hell”
According to a report by the New York Post, NVIDIA employees go to work every day of the week and leave the office at around 2 a.m. However, their hard work doesn’t go unnoticed. Several sources with knowledge of the arrangement indicate that employees receive generous pay packages.
While speaking to Bloomberg, a former marketing employee at NVIDIA disclosed that she’d attend up to 10 daily meetings, each featuring up to 30 participants. The meetings would often turn into shouting matches due to differences in opinion and strategy. NVIDIA employees describe the working environment at the company as “a pressure cooker.”
Despite the immense pressure in NVIDIA’s work environment, most employees retained their jobs because of the “golden handcuffs,” as a former employee described them. The golden handcuffs are a metaphor for NVIDIA’s employee stock compensation package.
According to NVIDIA, the rate of employee turnover is 17.7%. A former engineer at NVIDIA indicates that employees who’ve been working at the company for more than a decade have enough money set aside for retirement but opt to continue working for better incentives.
The engineer further indicated that NVIDIA’s parking lot is filled with high-end vehicles, including Porsches, Corvettes, and Lamborghinis, and the occasional bragging of new vacation homes.
Elsewhere, NVIDIA isn’t the only company breaking the bank to further its AI advances. In a leaked spreadsheet featuring the salaries of Microsoft employees, an AI software engineer gets paid up to $120,000 more per year than someone working in Azure.