Business Insider obtained access to Tesla’s internal salary database with data on nearly 100,000 employees. Statistics show that the company offers salaries below the market average, but with the possibility of receiving an impressive block of shares.
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“The system is designed to find fans. They may pay better elsewhere, but we need Tesla fans through and through,” said a source who works for the company.
A former Tesla recruiter who worked at the automaker until 2024 said the engineering selection process typically includes a minimum of nine interviews and can last several months. The salary structure is specifically designed to eliminate those who just want to “come and go,” the source told Business Insider.
The average salaries for those working full-time in non-managerial positions break down as follows: legal services and public relations earn the most and customer service employees earn the least.
The publication compared the average salaries of Tesla, other automakers and the six largest technology companies by market capitalization. Tesla is behind everyone except Amazon.
However, this eliminates the possibility of acquiring Tesla shares. After the news of Donald Trump’s victory in the United States presidential elections, they grew more than 8% and the company’s capitalization reached $1 trillion.
According to the leaked database, in 2020-2021, 44 American Tesla employees received shares worth more than $1 million. Analysis of statistics shows:
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Engineers typically received stock packages worth $25,000 or more.
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Managers: from 950 thousand dollars to 20 million dollars.
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In about 75% of cases, these were restricted stock units (RSUs).
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21% – non-qualified stock options (for professional achievements).
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4%, including many executives and high-level employees, have premium stock options (ISOs).
RSUs are actual shares that vest to the employee over time, while ISOs simply provide the right to purchase shares at a predetermined price before they expire.
Last year, Tesla owner Elon Musk said the automaker is “trying to ensure the prosperity of every” employee. “We give everyone stock options; We made millionaires of many people who simply worked on the production line and did not even know what stocks were,” he emphasized.
Author:
Elena Likhanova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
