Nearly 20,000 Intel Employees Are Heading For The Exits: How Salaries Stack Up Against Nvidia, OpenAI, Microsoft And More

Author: Adam Eckert | August 07, 2024 03:51pm

Intel Corp (NASDAQ:INTC) recently announced plans to slash jobs in an effort to drive cost savings across its business.

Here’s a look at just how much Intel was paying its employees and how it compares to other tech giants.

What To Know: Intel and other big tech companies rarely share salary details. However, they must disclose salary offers or potential salary ranges when they hire foreign workers through the H-1B visa program.

According to a Business Insider report citing work-visa applications submitted to the U.S. Office of Foreign Labor Certification in 2022, Intel’s highest salary offer was around $263,000, sent to an engineering manager.

Intel announced a cost-reduction plan last week.

The actions include structural and operating realignment across the company. This includes headcount reductions of greater than 15% plus operating expenses and capital expenditure reductions of more than $10 billion in 2025. Intel’s headcount is currently around 125,000, so the company is likely to lay off around 19,000 employees.

Here’s a look at the annual salary of those former Intel employees:

• Business Intelligence Analysts: $65,437 to $142,438

• Information Security Analysts: $107,994 to $170,248

• Supply Chain Planning Analysts: $85,467 to $96,034

• Product Marketing Engineers: $102,606 to $150,093

• Mechanical Engineers: $81,765 to $121,576

• Engineering Managers: $117,624 to $263,952

• Application Developers: $92,488 to $121,763

• Program Managers: $67,621 to $168,834

• Data Scientists: $65,229 to $152,681

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Why It Matters: When compared to other big tech companies, Intel appears to be offering prospective employees less money. It’s worth noting that the data doesn’t include stock-based compensation, individual performance rewards or bonuses that can significantly increase overall pay.

Nvidia Corp (NASDAQ:NVDA), which has been the biggest beneficiary of the AI boom to date, has offered salaries ranging from $74,460 to $786,000.

Fellow AI leader Microsoft Corp (NASDAQ:MSFT) made salary offers ranging from $77,000 to $310,000 in 2022 and Microsoft-backed OpenAI is paying the average engineer about $925,000 per year in total compensation.

Apple Inc (NASDAQ:AAPL) offered prospective workers base salaries of $102,000 to $322,000 in 2022 and Alphabet Inc (NASDAQ:GOOG) offered workers salaries ranging from $55,000 to $340,000.

This illustration was generated using artificial intelligence via Midjourney.

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