Wednesday, February 11, 2015

Mad Fed Money Printing is Causing a Crazed Bonus Bidding War Between Apple and Tesla for Employees

Nick Badalamenti emails:
"Tesla has hired about 150 people from Apple so far, according to Bloomberg, and Apple has reportedly tried to appeal to potential Tesla hires with $250,000 signing bonuses and huge salary hikes."

Read more:

$250k signing bonus...that's not chump change...seems to be that Tesla is making a strategic error in being so obvious about poaching talent from a company with such a large cash balance on hand....but what do I know? lol
 "And according to Musk, the poaching is happening in both directions. Apple, for instance, is offering $250,000 signing bonuses and 60 percent salary increases in an attempt to lure Tesla staffers, he says. “Apple tries very hard to recruit from Tesla, but so far they’ve actually recruited very few people.”

Recruited very few wtih $250k bonuses? it just me or do I smell bullshit?

I think Tesla just picked a fight with the wrong bully.
Nick, from what I am seeing in the greater Silicon Valley area, it is very possible that employees would turn down $250,000 signing bonuses, depending upon their skill level and experience.

$100,000 offers are flying all over the place to kids two years out of college, with extremely limited experience and skills.



  1. Wow, all I can say is "wow". Thanks RW.

  2. Replies
    1. Yes. I would take Tesla any day over Apple. Tesla is revolutionizing the way cars are made, the way they are sold and the way they are repaired. Furthermore, at Tesla, I imagine there is plenty of room to grow as it is a relatively small company. Compare that to Apple. Then look at the cultures of both companies.

    2. "Tesla is revolutionizing the way cars are made"

      In what way are they specifically revolutionizing the way cars are made?

  3. "$100,000 offers are flying all over the place to kids two years out of college"

    There's nothing extraordinary about this. I am 1 month out of college with a degree in Computer Science. I earn in the mid 60s in a very affordable part of Florida with no income tax. According to the CNN "Cost of Living calculator, I would need to earn 108k in San Francisco to have a comparable lifestyle. In two years, I will probably be earning close to mid 70s. I would need to earn 125k in San Fran to have a similar cost of living.

    1. I'm not sure exactly how RW meant the $100k, but keep in mind I was referring to "signing bonuses", meaning above and beyond their actual salary.

      I think the thing that strikes me about a $250k signing bonus is that you can literally take that money to different parts of the country and use it as seed capital for a startup.(referencing your cost of living point, which I agree with...I'm in SC and benefit from that and moved from Charlotte to take advantage of my regional capital advantage at the time)

    2. So 100k signing bonus to someone two years out of college? That's amazing. I imagine these kids are from top 10 schools. Telsa and Apple aren't exactly recruiting from my school.

  4. I agree with Nick on the smell. This doesn't match Apple's ordinary engineering recruiting efforts.

    If it exists at all my guess is that it is for a few special individuals or because of some executive to executive competition between the two companies. I cannot believe they are doing six figure salaries and signing bonuses for fresh outs either. Apple's data on glassdoor isn't that exciting at least for my engineering field considering the cost of living in the area.