Nvidia, the American company known for making AI semiconductors, has seen incredible growth in recent years. This growth has been so remarkable that it’s almost unmatched by any other major global company. Nvidia’s employees have greatly benefited from this success, with many becoming millionaires. However, this success has come at a high cost for them.
The High Price of Wealth
According to a recent Bloomberg report, while many Nvidia employees have become millionaires due to the company’s success, they are paying a heavy price for it. The work culture at Nvidia is causing significant stress. Employees are often required to work long hours, making their workweeks longer with fewer days off.
Stressful Work Culture at Nvidia
The report highlights that Nvidia’s work culture is quite stressful. Employees are working longer hours, and their workweeks are extending, with fewer off days. The management structure is also described as chaotic. It’s common for Nvidia employees to come to the office even on their days off, choosing work over rest.
Several current and former Nvidia employees shared their experiences in the report. A former employee from the technical support team mentioned that they often had to work all seven days of the week, with their work hours frequently increasing. Another former employee said they had to attend numerous stressful meetings daily.
Why Employees Don’t Quit Despite the Stress
Despite the tough work culture, few Nvidia employees leave their jobs. The reason is the company’s attractive stock options. Nvidia has consistently rewarded its employees with stock options as the company grew, making many of them millionaires. Former Nvidia employees refer to these stock options as “golden handcuffs.” While these rewards have made them rich, they barely have time to enjoy the wealth they’ve earned.
Earning Much More Than Peers at Other Companies
The report also mentions that many Nvidia employees have become so wealthy that they own luxury cars like Porsches, Corvettes, and Lamborghinis. For example, Nvidia’s Chief Financial Officer, Colette Kress, has accumulated shares worth about $758.7 million after 11 years with the company. In contrast, Intel’s CFO, Dave Zinsner, has shares worth only $3.13 million, despite having a large pay package.
