- Newer companies like Netflix and Airbnb pay considerably more than Google and Apple
- Netflix paying $205,532 annual compensation emerges to be the highest paying company
For a long time, technology giants like Apple and Google have been among the dream companies for any employee. H-1B employees, most of them being Indian, dream of working in these companies and get a hefty annual compensation.
However, Times of India recently reported that newer companies are paying much more to the H-1B holders than the oldies in the market.
What are these new highly paying companies?
Google, Apple and Microsoft pay a dazzling $144,285 and $139,457 $135,535 annual compensation to H-1B employees respectively.
But according to the data, the content and production company, Netflix, paying a whooping $205,532 of average compensation to their H-1B talents turns out to be the highest paying company.
Vacation rental online marketplace, Airbnb ($168,306) and Ridesharing company, Lyft ($167,650) accompany Netflix in the top three most highly paying companies.
The data from Dice.com and H-1B Visa Salary Database shows that even the on-demand food delivery service Doordash offering $160,444 on average to H-1B engineers pays more than the old high tech companies.
Why does Netflix pay so much to its employees?
The average compensation given by different companies depends on talent acquisition and compensation strategy which works best for them, said Vijay Govindarajan, Coxe distinguished professor at Tuck at Dartmouth.
“For instance, Netflix only recruits and retains rock stars and pays them top-of-the-market compensation, more than what anyone else would pay. Netflix’s logic is that the best programmers are 100 times better than average programmers,”
Implying Netflix’s approach of paying more to its not only premium but overall employees, Govindarajan said “For the same token, the return on each rock star will be huge for Netflix. In fact, in 2020, each Netflix employee generated an average of $2.6 million in revenue and $26.5 million in shareholder value, more than most other companies in entertainment,”
Does this mean Google and Apple are not the dream companies anymore?
Tech giants like Google and Apple are the dream companies not because of the tremendous salaries but because of the product that they create. Newer companies paying more won’t take away the position that these companies have made in the industry since so long.
There is a lot of talent worthy of getting premium jobs in the US but this is only possible if they are granted their visas without any unnecessary strict policies. With Joe Biden taking the charge, the situation might improve from the immigrants in the US.
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