NVIDIA is undoubtedly thriving, and as a result, some intriguing dramas are emerging from within the company. Today’s story involves employees, money, and work management, which CEO Jensen Huang has addressed when questioned about the topic. Are many NVIDIA employees millionaires? Are they semi-retired at work because of this?
When everything is going so well, it seems that some people want to find faults. NVIDIA is crushing its competition in almost every aspect, dominating the AI market, leading the GPU market despite higher prices, and reaching new records with its shares. So, what should they be worried about?
Are veteran NVIDIA employees not doing their job because they’re millionaires?
It’s been leaked that last month, there was a unique meeting held at NVIDIA’s headquarters addressing an internal rumor that veteran employees who have been with the company for over five years are in a type of semi-retirement mode at work.
The meeting was an interesting one, as it involved resolving questions anonymously submitted by employees. Huang addressed a question about this semi-retirement mode, and his response was in line with his work philosophy:
“Working at NVIDIA is like a voluntary sport; each employee acts like their own CEO and manages their time. These are decisions that adults need to make.”
Where does the criticism come from, and why?
New employees joining NVIDIA are surprised by the company’s working culture, as mentioned by Huang. As a result, middle and upper-level management employees reportedly manage their time more “relaxed,” since they are said to be millionaires.
NVIDIA pays dividends to its employees in shares, and those who have spent more than five years at the company have seen the value of those shares rise by 1,200%; those who have been there for over ten years have a 12,000% higher average value, trading close to $500 currently.
New employees are indirectly accusing these veterans of being less motivated and working less hard. In response, Huang’s statements have been taken differently within the company:
“Jensen is making a very serious point: ‘do your damn job.'”
The problem is that NVIDIA’s work culture doesn’t allow for easy dismissal of personnel. When someone’s performance declines, they are assigned a group to help them improve or are moved to a new area where they can be useful, thanks to their colleagues:
“Being fired here is more difficult than being hired,” says an internal source.
Employees appreciate Huang, as shown on the Glassdoor website
Huang has a 98% approval rating as CEO on Glassdoor, which is much higher than his counterparts at Google, Amazon, and Meta. Therefore, employees support their CEO, so newcomers need to adapt to the company’s working ways, understand the responsibility of each superior, and manage their time and results.
Does this mean that those below work more than those above, hence the criticism? For now, we don’t know, but what we do know is that Huang is not complacent about how his company operates or how it views competitors. He has stated, “I don’t wake up proud and confident every day; I wake up doubly worried.” As such, NVIDIA’s CEO is not resting on his laurels, setting a prime example for all employees, whether they’re millionaires or not.