Benefiting from the craze of artificial intelligence (AI), chip maker NVIDIA has reaped huge dividends from the AI field. Its stock price has risen by more than 160% so far this year, and has soared nearly 30 times in the past five years.
Since Huida will announce its second-quarter financial results after the U.S. stock market closes tonight, market investors are waiting with bated breath to see whether it can once again deliver results that exceed expectations. (NVIDIA has exceeded revenue expectations for seven consecutive quarters in the past 10 quarters)
Huida employees make a lot of money
As Huida's stock skyrocketed, many employees who received stocks as compensation quickly became millionaires. For example, "New York Magazine" reported earlier this year that a junior engineer in his 20s who had worked for Huida for three years had a full pocket. He not only gave his mother a trip to a luxury hotel, but also paid college bills for his sister. He spent his tuition money to buy new laptops and brand-name shoes, and his girlfriend also bought jewelry, and the two often went on dates at Michelin-starred restaurants.
As the current dream company of many people, Huang Renxun revealed during his speech at National Taiwan University in June this year that Huida will set up a very large AI design center in Taiwan in the next five years and is expected to employ at least 1,000 engineers. Just recently, Huida even recruited " catering manager " vacancies in Taiwan and continued to expand its talent recruitment in Taiwan.
Huida employees have money but no time to spend
However, these employees who have gained a lot of wealth from working in Huida do not live an enviable and luxurious life as the outside world thinks, because the price for their high salary is that they have to contribute most of their time to Huida.
According to Bloomberg , a former Huida technical employee once pointed out that he was required to work seven days a week and had to work overtime until 1 or 2 a.m. before being laid off. This is no longer new, and the working hours of the engineering team were even longer.
In addition, some current and former employees admitted that they were always too stressed and exhausted at work. Even though they could fully afford the expensive expenses, they simply had no extra time for additional leisure activities, such as traveling, looking at houses and buying houses. wait.
A former employee in the marketing department said that she often had to attend 7 to 10 very large meetings with more than 30 people on the same day. Fierce arguments from time to time had become a daily occurrence, and she had almost no personal time, even after work. I hope to rest early and no longer have the energy to go out to party or play.
More tired than TSMC
Although everyone says that working at Huida is stressful and there is almost no personal leisure time, Huida's salary package and stock incentive system are indeed very attractive.
It is understood that in addition to the basic salary of Huida employees, most of their remuneration comes from equity. However, Huida’s stock allotment system is that employees who receive stocks as remuneration cannot be cashed out until four years later, thus motivating employees to stay. The position earns full salary, and if the stock has not expired, the employee cannot sell it. When employees can sell a batch of stocks, there is often another batch of stocks waiting for them. This cycle makes it difficult for employees to make up their minds to leave.
In this regard, a Taiwanese employee who claimed to have worked at Huida for two and a half years once advised on Dcard:
If you can't accept high-pressure work and it was painful during your graduate school years, and you want to live a happy life and don't want to work forever, then you really need to think clearly.
"NV is pretty cool to begin with. For the sake of the stock price, I kept holding it. It won't deform after a long time. XD." , "The higher the NV rank, the greater the ability/responsibility, and the more capable you are..."
Jen-Hsun Huang has previously been known for cultivating a culture of overwork, saying:
We would rather "torture" our employees to maximize their potential and achieve excellence than simply fire them with a layoff letter like other competitors.
Huida’s turnover rate is much lower than other semiconductor companies
Although people say that Huida's work pressure is very high, according to "Bloomberg" reports, in 2023, the turnover rate of Huida employees will be only 5.3%. However, when Huida's market value reached its peak of US$1 trillion, the resignation rate The rate was almost halved to 2.7%. In contrast, the average turnover rate in the entire semiconductor industry is as high as 17.7%, which is enough to show that Huida's salary system is attractive and is also very good at gathering employees' centripetal force.
