News Intel Taps Multi-Billion Dollar Fund to Retain, Attract Top Talent

[Admin]

In an attempt to keep and attract talent, Intel announced a $2.4 billion extra expense towards boosting pay for its workforce.

Intel Taps Multi-Billion Dollar Fund to Retain, Attract Top Talent : Read more

 

[husker]

"If the whole $2.4 billion dollars were evenly distributed across its 110,000 employees, each would receive an extra ~$21,000 per year. "

I'm guessing a newly poached engineer will get an extra 400K and most employees will get a pizza party for lunch sometime.

 

[bigdragon]

Finding more money is easy. Most companies the size of Intel have been hoarding cash and can readily hand it out if they choose. The problem I'm seeing is the work life balance. 3 weeks PTO a year for a senior engineering job? Lol, no. 5 days a week plus maybe some nights or weekends on-call? Here's an expletive-laden response to that. I'm not saying Intel has the same issues, but I wouldn't be surprised to find out that they do.

I'm glad pay is going up. Tech companies like Intel are finally starting to wake up to the reality that expertise also works on a supply and demand cost relationship too. However, some of us have lives outside of work. Workaholics need to get a life outside of work. Companies are boosting pay without also boosting PTO, or are cutting back on PTO. Americans, in general, need more time away from work.

 

[jkflipflop98]

Intel engineers have pretty much unlimited time off. All you have to do is ask.

Intel has just been historically cheap with paying the employees. That's why an engineer in D1 that's been there past their first sabbatical is a rarity. Most technicians in the fab could go work for a competitor and make almost double simply walking in the door.

I mean, you want to have the best process and the best devices in the world, but you want to pay peanuts to get it. If you want the best in the world, then you have to pay the best in the world.

 

[russell_john]

I've been doing this for my Engineers since I started my business in 2009 ..... You make me some money and I'll guarantee you get a fair share back at the end of the year. Most of my employees this year ended up with a bonus check 10 days ago that was equal to 2 months salary and I already pay well above the industry average. If you want the best most loyal employees you have to pay for them, let the other company take the average engineers. And I'm willing to go above and beyond to keep them even if it temporarily hurts my bottom line ... for instance last year because of Covid they only averaged about 25 hours a week but got paid for 40. End of the year bonuses weren't very good but they understood the situation was temporary and I was doing them a favor at my cost.