Apple engineers getting amazing bonuses of up to $180,000, here’s why

New Delhi: According to a Bloomberg report, Apple has created a new year of select engineers with huge bonuses to prevent leaving the company for tech competitors like Meta (Facebook).

The bonuses paid to employees are in the form of stock, which reportedly cost between $50,000 and $180,000. However, most employees are receiving bonuses in the range of $80,000 and $120,000.

The report said the top engineers of the firm were offered bonuses over the course of four years. Bonus is in addition to all the bonuses that the company provides to its employees. As of yet, Apple hasn’t officially announced awards for its engineers to media outlets.

In Silicon Valley, top tech firms such as Meta, Apple, Google and Microsoft are reportedly poaching for talented engineers from other rival companies to double down on their upcoming products.

Meta has reportedly hired more than 100 Apple engineers in recent months, while the iPhone maker has also managed to bring in something from the social media company.

According to a report in Business Insider, companies are offering employees a host of benefits such as snack bars and even in-house massages to retain talent. Most of these allowances remained unavailable during the pandemic-induced office shutdown. Read also: With petrol prices slashed by Rs 25 in Jharkhand, here’s looking at the latest fuel rates across Indian cities

With most tech companies building their own metaverse, the hiring landscape is expected to intensify in the coming months. Both Meta and Apple are working on their own virtual reality products to fulfill their Metaverse ambitions. Read also: RBI calls Omicron a growth threat; Banks say are strong enough to face challenges

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