Meta’s virtual reality developers have been revealed to earn salaries between $500,000 and $1 million.
An anonymous source inside the company revealed that high salaries are the norm as Meta seeks to source and retain the best Metaverse talent available.
Meta creates thousands of jobs, Mark Zuckerberg dubbed it the “Year of Efficiency,” the skilled developers on its Metaverse team are earning astronomical sums of money.
Patrick McAdams, CEO of technology recruitment firm Andiamo, said: washington post upon Friday Meta significantly outperforming its competitors.
Meta “pays significantly more than a lot of game companies,” he confirmed.
“It’s fair to say that their total compensation is double or more than double that of the big game companies.”
According to McAdams, salaries of $500,000 and above are not out of the ordinary, with the highest packages awarded to highly skilled developers and technical team leaders.
Meta is happy to pay high prices for top talent, but the company is trying to: trim the fat Elsewhere.
In March, Zuckerberg announced that 10,000 jobs would be cut from the company. He will also close 5,000 open positions as the company overhauls its hiring procedures.
At the time, Zuckerberg said, “This is going to be a big deal and there is no way around it.”
The company cut 11,000 jobs last November. Meta’s core business, which relies heavily on advertising revenue, has weathered several storms recently. October 2022, Apple Unilateral Changes terms of service Undercut Meta’s business model.
The macroeconomic situation is also not favorable. Zuckerberg now admits the company hired too aggressively during lockdown when social media usage was at its peak.
Some people lose their jobs, but others are actually doing very well at the company.
payment of odds
A former Meta HR executive confirmed that the company tends to overpay not only Metaverse developers, but other positions as well. This is part of a broader corporate strategy to spend more than our competitors as a means of retaining the best staff available in the market.
ex of one person meta A recruiter confirmed that “they are paying well above market rates for many positions.”
in the meantime meta It’s willing to spend more than its competitors to retain top talent, but the money pot isn’t endless. This shows the strength of his Zuckerberg feelings for this evolving industry sector.
Investment strategies are long-term. Meta has publicly admitted that it expects it will be many years before all investments in the Metaverse begin to truly pay off.
Meanwhile, resource-rich companies continue to spend more than their competitors. According to data from Levels.fyi, the top 90th percentile VR developers on Meta earned an average of $538,800. Developers in the same percentile earned $495,000 at Apple and $440,000 at Google.
A post about increasing Meta spending to keep top talent in the Metaverse first appeared on MetaNews.