The data from US-based salary tracker 6figr revealed that the majority of Nvidia’s 10,000 India-based employees have received CEO Jensen Huang’s one-time special stock grant, with payouts ranging from over Rs 5 lakh to as much as Rs 1 crore over the grant period.
How Did This Happen?
When it comes to the “Jensen Special Grant,” it was rolled out in 2024 and it is a one-time stock award that provides employees an additional 25% of their initial restricted stock units (RSUs).
This grant vests over four years and its values determined in local currency and converted into US dollars at an exchange rate of Rs 82.9 per dollar.
They have allocated RSUs based on an average Nvidia share price of $898.2 and vest over four years, starting with 6.25% on Sept 18, 2024, followed by equal quarterly installments, ending in 2028.
A copy of the compensation letter is reviewed by the media. A mid-level employee in a solutions architecture role (IC2) received eight additional RSUs under the special grant, valued at about Rs 5.3 lakh at the time of allocation, in one instance.
This allocation was in addition to an annual equity grant of 29 RSUs worth roughly Rs 21.5 lakh.
Country Is Hit By Fresh Wave of Dollar Millionaires
The employee’s total unvested equity stood at 156 RSUs, valued at over Rs 1.2 crore as of April last year, underlining the growing importance of stock awards as a retention strategy, as per the document.
On the subject of the special grant and broader pay structure, the company’s spokesperson said, “As a policy, we don’t share or comment on employee compensation details.”
It appears that India is witnessing a fresh wave of dollar millionaires mainly driven by equity-led compensation at global semiconductor and AI firms.
Considering the Nvidia India, the stock-based pay can account for 50% to 75% of total compensation hence making it the primary driver of long-term wealth creation.
Usually, equity grants often far exceed fixed salaries for mid- to senior-level roles, particularly in chip design and AI engineering.
It appears that the deep technical expertise, especially in hardware and AI, commands a significant premium over managerial tracks to the extent that the top engineers earn Rs 2-3 crore in annual compensation, as per information provided by the 6figr.
