Nvidia’s growth over the past two decades has been remarkable. From a relatively unknown player to a tech giant, Nvidia’s workforce has expanded almost 20-fold since 2003 and its pay packages have now left other Silicon Valley giants trailing behind.

Nvidia’s employee count has exploded in the past 20 years. Back in 2003, Nvidia (NASDAQ:NVDA) was more of an under-the-radar chip company. Today, it boasts around 30,000 employees, reflecting the surge in demand for its technology, especially in the age of artificial intelligence.

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The company’s meteoric rise has attracted many people eager to join its ranks. It’s unsurprising to see Nvidia recruiters getting swamped at tech conferences while social platforms are filled with people looking for advice on landing a job there. Business Insider reports that many are drawn by stories of employees becoming millionaires, thanks partly to Nvidia’s booming stock and generous stock-based compensation packages.

Millionaires and Median Pay That Surpasses Tech Giants

Nvidia’s stock price has skyrocketed – up almost 2,400% in the past five years – making many long-term employees millionaires. For instance, Nvidia’s median salary in 2024 now surpasses that of tech giants like Microsoft (NASDAQ:MSFT). The company’s compensation packages, including stock grants that typically vest over four years, have made employees wealthy and helped bring its employee churn rate to a record low. In 2023, Nvidia’s turnover rate dropped to 2.7%, far lower than the 17.7% industry average.

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However, not all employees feel like they’re rolling in cash. Some employees point out that while stock options seem impressive, the reality of taxes, living costs and limited stock allocations can take the shine off those figures. One Nvidia engineer even mentioned that, despite earning $250,000 annually, a lot goes toward covering everyday expenses and taxes – which means they’re far from feeling financially free.

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