The median employee at Meta earned over $379,000 in 2023, a recent filing has shown. This figure is significantly higher than many tech jobs, yet it aligns with competitors like Google and Amazon. Despite the attractive compensation, Meta has been laying off workers and investing billions in AI technology.
The recent SEC filing suggests that high-level software engineers and researchers at Meta typically earn higher base salaries than product designers and user experience professionals. However, the diversity of compensation within the company is likely significant due to its 67,000 employees. While Meta’s median salary surpasses the average within the tech industry, which typically ranges from $35,000 to $120,000 depending on the role, other Big Tech companies like Google and Amazon also offer positions with compensation well above $300,000.
Moreover, CEO Mark Zuckerberg’s total compensation in 2023 was $24.4 million primarily due to security and logistical costs. Zuckerberg’s salary was listed as $1, and the majority of his net worth is tied to stock options. Despite these competitive salaries and earnings, the work environment at Meta remains challenging. Zuckerberg announced a permanent “Year of Efficiency,” focusing on maximizing productivity through performance reviews and continued layoffs since 2022 when they reduced their staff by 22%. Further cuts are ongoing plans for future reductions in staffing levels.
Investor concerns arose during a recent quarterly earnings call due to plans to invest additional billions in AI technology.
Overall, while Meta offers competitive salaries for its employees compared to other Big Tech companies like Google and Amazon, it is important to note that other factors such as job security may affect an employee’s overall satisfaction with their position at Meta.
