Meta, the parent company of Facebook, has recently released a filing that reveals its employees earned an average salary of over $379,000 in 2023. This figure is notably higher than many other tech jobs and aligns with competitors like Google and Amazon. While this may seem impressive, it’s important to note that CEO Mark Zuckerberg’s total compensation in the same year was $24.4 million, with the majority of his net worth tied to stock options.
With approximately 67,000 employees at Meta, there is likely significant diversity in compensation. High-level software engineers and researchers typically earn higher base salaries than product designers and user experience professionals. However, despite these competitive salaries and earnings, Meta has been facing ongoing challenges in terms of work environment. The company announced a permanent “Year of Efficiency” in 2022, focusing on maximizing productivity through performance reviews and continued layoffs. Since then, the company has reduced its staff by 22%, with plans for further cuts.
Despite these challenges, Meta’s recent quarterly earnings call showed positive results. However, investor concerns have arisen due to the company’s plans to invest additional billions in AI technology. While this may seem like a promising development for the future of tech, it remains to be seen how these investments will impact Meta’s bottom line and overall growth prospects moving forward.
Overall, while Meta offers attractive compensation packages for its employees, it’s important for investors to keep an eye on ongoing challenges related to work environment and continued investment in new technologies.
