Expecting a written offer from Intel NAND SSD group at Folsom. This BU is gonna be a part of SK Hynix in the future. I was told that the base was going to be around 125K. Anyone who works there what the sign-on bonus and RSU compensation looks like? Are they even offering RSUs to new hires right now because of the SK Hynix takeover? current TC (base 120k, RSU 20k per year, 25k bonus) YoE: ~ 1 year, PhD Not sure if I am serious about this. Just interviewed because recruiter reached out. Just curious of what they will offer because of the SK Hynix acquisition. Area: analog design #hardware #semiconductor
Why do you want to work at a soon to be Korean sweat shop? 🤡
I am not serious about accepting, just curious about their TC package
Nope the fuck out of there.
I was at intel 10 years, it's extremely common layoffs after merger. Why you want to leave Qualcomm?
Not going to leave because I need more experience under my belt. Was just curious as to what their package looks like with the acquisition happening soon.
Knowing intel, they pay peanuts.
This Apple dood doesn’t know any facts. He is just here to boast about how he landed in Apple from intel. When will this BU be part of SK? If it’s in final close which is in March 2025 you have lot of time.
How are they handling compensation for new hires? Are they offering RSUs?
I found the Intel HR person guys!
That group saw large attrition in last one year. That is why they are hiring.
Thanks for the insight. Guessing people took the acquisition as a sign that it is time for a change of scenery?
There were several reasons people left. The work and leadership in about half of the NAND SSD divison sucks. People stayed due yo perceived security of a big name like Intel. The acquisition forced them to reevaluate their world view. That combined with a red-hot employment market and notoriously low TC at Intel convinced many to take interviews with FAANG. This led to offers and attrition.
Offers from SK arrived. They're converting any unvested INTC RSUs to "restricted cash units" (RCUs) on the day the deal closes. RCUs vest on the same schedule as the former RSUs, but value is locked in at whatever INTC price was on the day the deal closed. 20% of TC signing bonus payable when the deal closes. Also get 7.1% bump over Intel pay when the deal closes. My TC under Intel is $196k, but I'll make $276k TC first year with SK. Complete one year to keep signon bonus. After that I'll probably bail.
Thanks for the info
What about ESPP, annual and quarterly bonus Intel used to give? How are those handled?
I’m currently in NSG. Your base is very low for a PHD. My advice, like many others here, is to run. Use it at leverage with your current team if you want more pay.
Agreed. Since he’s a PhD, he should be coming in as grade 7 at minimum, which in Folsom should be hirer than $125k.
Hey ppyn15, what’s the normal base for G7 with my experience? @EXpG04 my current base is lower🙂, but I like the work. Do you suggest in running because of the impending acquisition?
Run as far as you can.
Run away for your life!
Run away from that sinking ship. Guaranteed they will have layoffs after merger.
I thought the employees were part of the deal. Still see reqs for that group mentioning the SK Hynix acquisition. Why are they hiring right now if they are planning layoffs?
https://www.topresume.com/career-advice/layoff-preparation-tips