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Elon Musk is the richest person in the world – how much does he pay his employees at Tesla, SpaceX and X? – Tesla (NASDAQ:TSLA)


Elon Musk is the richest person in the world – how much does he pay his employees at Tesla, SpaceX and X? – Tesla (NASDAQ:TSLA)

Whether you love him, hate him or are somewhere in between, Elon Musk is the richest person on earth and if you happen to land a job at one of his companies, you probably have a share of that wealth.

What you should know: Musk is the CEO of several well-known companies that pay fairly high salaries, but if you work for the eccentric billionaire, your job is probably a dominant part of your life.

He has been criticized for his strict management approach, which often requires employees to work unusual hours for extended periods of time.

In a world where distance is increasing, Musk has resisted change. As things have returned to normal in recent years following pandemic-related restrictions, Musk has said If employees did not want to return to the office, “they should pretend they were working somewhere else.”

Although he has become somewhat polarizing since his Twitter (X) acquisition, most people would like a job at Tesla Inc TSLSpaceX or even X.

In a Benzinga poll last year, 69% of respondents said they would like to work for Musk, 40% of whom said definitely yes, while 29% said they would if the pay was good—and let’s be honest, the salaries are pretty impressive.

According to a report from Business Insider, Tesla pays most of its employees between $85,000 and $175,000. Here’s a look at some of the average salaries for various positions at the electric vehicle maker.

  • Logistics Analyst: 85,333 USD
  • Associate Manufacturing Engineer: 93,983 USD
  • Quality Assurance Engineer: 104,221 USD
  • Global Supply Chain Manager: 119,890 USD
  • Technical Program Manager: 120,083 USD
  • Senior Hardware Engineer: 142,342 USD
  • Electronics Design Engineer: 161,157 USD
  • Head of Mechanical Engineering: 173,200 USD
  • Software Development Engineer: 175,703 USD

In a separate Insider article, one of SpaceX’s founding employees said Jim Cantrell remembered the time when he worked with Musk.

“Working with Elon was like working with two different people: the good Elon and the bad Elon, and you never knew who you were going to get,” Cantrell said.

His good sides were funny and charming and full of great ideas, but his bad sides were a lot of frustration and yelling, as if nothing was ever good enough for Musk, he said.

He did not disclose his salary, but according to data from Glassdoor and Indeed, the rocket company is willing to pay more for talent.

Production managers make an average of $102,000 per year, software developers make about $172,000 per year, launch engineers can make up to $238,000, and even the interns are well paid. Interns at SpaceX make an average of $54,000 per hour and salaried interns make an average of nearly $75,000 per year.

The former SpaceX employee pointed out that Musk always thinks big and that he would expect the same from everyone who works there.

See also: Google co-founder Eric Schmidt blames home working and flexible working hours for lagging behind OpenAI and praises Elon Musk’s leadership skills: “See what he gets out of people”

“Elon wouldn’t expect you to do anything he wouldn’t do, but the boundaries he’s willing to go to are unusual for most people. I suspect the same thing will happen at Twitter,” Cantrell said.

In an interview last year, Musk revealed that he had laid off about 80 percent of the workforce following his $44 billion acquisition of social media platform X. Perhaps that’s because the salaries of the remaining employees are so high.

Data from Glassdoor and Indeed shows that executives and group leaders earn more than $235,000 per year, data scientists earn an average of around $167,000, and analysts earn nearly $135,000 per year—and that’s not all.

In March last year, a leaked email to employees revealed that the billionaire had offered Twitter employees $20 billion worth of stock. The shares will be allocated over a four-year period, and Musk seems quite optimistic about the future value of the platform.

“I see a clear but difficult path to a valuation of over $250 billion. That means the shares granted now would be worth ten times that,” Musk told his employees.

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Photo: Shutterstock.

Some elements of this story were previously reported by Benzinga and have been updated.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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