I heard directors and above will not get bonus anymore. True ?
The company is changing and seems to be in big trouble.
What do you think about this move ?
14 replies (most recent on top)
@yx The VPs are difficult to find when drafting a layoff list. They will become very visible right after it lol
@jd These hardworking and stressed VPs are they still there with you In the same room now? Are you seing them now?
Exec or not. Qualcomm employees are paid way too less. Why is that the case.
Even before all the stock gains and before ChatGPT nvidia used to pay better. Even intel used to pay better.
And Qualcomm pay compared to any FAANG is not good. 60%. If that.
It doesn’t seems like this is honestly that big of a deal. At some companies that are publicly-traded, this is quite common for the top 5-10% of employees by tenure and title because they will have the greatest impact on company direction and guiding everyone else on projects. So, if the company value tanks, they should be penalized by lower valuations of bonuses.
It’s a way to tie compensation to future performance. It would be weird to do this for junior engineers but maybe not directors and VPs
what is RSU target for sr director and vp?
What I heard is principal and above
@jw So true. Qcom Dir's/VP's exemplify the Peter Principle. That's the Qualcomm way!
Most VPs/Directors are not technically strong, no one will hire them outside Q. They should be happy to still have a job. That's why no one is complaining! Regarding normal employees, pretty much same thing will happen soon. When Apple revenue is gone, the rest of US positions will be transferred to India to complete the metamorphosis. Think about it, Mediatek is 100% in Taiwan, and is eating our lunch. The only chances left for Q is to lower expenses by moving to cheaper places (India).
Should cut all rsu for dir and above.
@br I have met some VPs who work day and night. There is no stopping them. They work really really hard and take a lot of stress. Kind of unusual compared to rest of industry. And Q VPs / Sr Dir / Dir dont get paid that well either, if you compare to industry.
Q employees are roughly at 60-70% of comparable levels to the industry.
@a7 RSU are so volatile, better for employees to have the cash. If this is true, this is kind of a sizable change to salary structure and no one seems to have complained. In other companies employees will make a big deal about it. I didnt see it being discussed on this forum either. Strange.
Q is going to lose high margin Apple revenue over next quarters. So stock is likely going down.
Something smells fishy here. Why is Q doing this at this time. And this doesnt seem temporary, but permanent change. This could be an indication that lower levels will also see some change in next 1-2 years.
VPs and above should get nothing. Job duties for them are too light. No real work and just need to collect the groups work from leads or program managers. And finally report to upper managers as if he did all.
@OP instead of bonus, they’ll get RSUs