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

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.

Don’t Miss:

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.

Trending: Here’s the AI-powered startup that turns traders into influencers achieving 12% monthly growth – invest in it at only 10 cents per share.

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

Trending: Amid the ongoing EV revolution, previously overlooked low-income communities now harbor a huge investment opportunity at just $500.

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.

See Also: Don’t miss out on the next Nvidia – you can invest in the future of AI for only $10.

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.

Read Next:

“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!

Get the latest stock analysis from Benzinga?

This article Nearly 20,000 Intel Employees Are Heading For The Exits: How Salaries Stack Up Against Nvidia, OpenAI, Microsoft And More originally appeared on Benzinga.com