The solution to staying ahead of the generative AI space and establishing a team that works diligently towards creating Artificial General Intelligence (AGI) is hiring talent from other companies, at least that is what Meta believes. Recently, we reported that the social media giant snatched Apple’s head of foundation models, and the secret to getting him to resign from his illustrious position at a trillion-dollar firm was an eye-watering $200 million signing bonus. However, before we take a deep breath to fathom the amount offered, we would like to inform readers that this tactic has been applied by Meta before, but the company did not honor its earlier agreement.
Apple reportedly could not match Meta’s offer for the AI models executive, but there is no confirmation that the signing bonus will be offered immediately
Ruoming Pang, Apple’s former AI models executive, has jumped ship to Meta, with Bloomberg reporting that the latter enticed him with a $200 million signing bonus. The compensation package provided by the company to work at its superintelligence labs comprises of a base salary, a signing bonus, and Meta shares. The issued stock is typically the beefiest part of the package, but the report does not provide any percentage breakdown.
The signing bonus and annual income are expected to be large figures to offset the lost opportunity for an employee if they resign from Meta soon and lose out on stock bonuses. Given the ludicrous amount, which is said to exceed Tim Cook’s $74.6 million figure that Apple’s Chief Executive earned in 2024, the California-based giant did not even match the offer. However, here is the catch; 9to5Mac reports that Pang will not see the entire payout unless he stays at Meta for a considerably long period, and if the stock performs well.
This is traditional practice at Silicon Valley firms, and Meta has maintained its stance of poaching talent from other companies. For instance, three OpenAI researchers were recruited recently, but Lucas Beyer, one of the newer hires, has stated that he has yet to receive the $100 million signing bonus promised by Meta. In a recent podcast, OpenAI CEO Sam Altman said none of his best people have taken up the AI competitor’s offer, while also mentioning that luring talent with heaps of cash will not create the best company culture.
News Source: Bloomberg
About the author: Omar Sohail is a reporter and analyst for Wccftech's mobile section, specializing in the technology and business of the mobile industry. His expertise lies in the intricate hardware supply chain, covering developments in semiconductor manufacturing, chip lithography, and camera sensor technology.
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