Intel Corp (NASDAQ:INTC) recently announced plans to cut jobs in an effort to implement cost savings across the company.
Here’s a look at how much Intel paid its employees and how it compares to other tech giants.
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What you need to know: Intel and other big tech companies rarely share salary data. However, they must disclose salary offers or potential salary ranges when hiring foreign workers through the H-1B visa program.
According to a Business Insider report on work visa applications filed with the U.S. Office of Foreign Labor Certification in 2022, Intel’s highest salary offer was about $263,000. This amount was sent to an engineering manager.
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Intel announced a cost-saving plan last week.
The actions include structural and operational realignment within the company. This includes workforce reductions of more than 15% plus operating expense and capital expenditure reductions of more than $10 billion by 2025. Intel’s workforce is currently about 125,000, so the company will likely lay off about 19,000 workers.
Here’s a look at the annual salaries of these former Intel employees:
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Business Intelligence Analysts: $65,437 to $142,438
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Information security analysts: $107,994 to $170,248
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Supply Chain Planning Analysts: $85,467 to $96,034
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Product Marketing Engineers: $102,606 to $150,093
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Mechanical engineers: $81,765 to $121,576
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Technical managers: $117,624 to $263,952
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Application developers: $92,488 to $121,763
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Program Managers: $67,621 to $168,834
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Data Scientists: $65,229 to $152,681
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Why it’s important: Compared to other big tech companies, Intel appears to offer potential employees less money. It’s worth noting that the data doesn’t include stock compensation, individual incentives or bonuses, which can significantly increase total pay.
Nvidia Corp (NASDAQ:NVDA), which has benefited the most from the AI ​​boom so far, offers salaries ranging from $74,460 to $786,000.
See also: Don’t miss the next Nvidia – For just $10 you can invest in the future of AI.
Co-AI Leader Microsoft company (NASDAQ:MSFT) has made salary offers ranging from $77,000 to $310,000 for 2022, and Microsoft-backed OpenAI is paying the average engineer about $925,000 per year in total compensation.
Apple Inc (NASDAQ:AAPL) offered potential employees base salaries of $102,000 to $322,000 in 2022 and Alphabet Inc (NASDAQ:GOOG) offered employees salaries ranging from $55,000 to $340,000.
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This article Nearly 20,000 Intel Workers Heading Out the Door: How Salaries Compare to Nvidia, OpenAI, Microsoft, and More originally appeared on Benzinga.com
