100 million-dollar pay packages aren't just for the Shohei Ohtanis and Cristiano Ronaldos of the world anymore. In Silicon Valley, nine-figure pay days are reportedly now being floated to the world's top talent as the race to own AI enters a new frenzied stage.

Meta has made at least 10 high-pay offers of up to $300 million over four years to top OpenAI researchers for what it's calling its Superintelligence Lab, Wired reported this week. Sam Altman claimed in June that OpenAI workers had been offered $100 million signing bonuses to jump ship. Meta spokesman Andy Stone called news of the reported pay "untrue," saying "the size and structure of these compensation packages have been misrepresented all over the place."

Whatever the actual figures are, it seems a select few researchers could see bank account balances that rival or surpass CEOs at other Big Tech companies — and they would out-earn other tech workers by numbers that are hard to envision. (A BI analysis of Meta's federal filings last week found that software engineers at the company can make up to $480,000 in base salary.) A former Meta engineer who still works in the tech industry told us that as "top tech talent is finally being treated like top sports" many of tech's rank and file workers are filled with resentment and jealousy, "especially amongst folks that have been in the industry a while."

Demand for AI experts far outpaces the supply. Whatever enticing salaries Meta is actually offering must be outsized enough that they tempt people to abandon the sleek, hotbed of AI innovation to take on the task of bringing Meta, a company that bet everything on the metaverse, through yet another rebrand. To achieve Mark Zuckerberg's dream of building a personalized AI for everyone, Meta no doubt needs to open its wallet.

Zuckerberg seems to be testing now how many zeros he needs to put on a check to get people to come play for his team. But perhaps more than anything, the eye-popping salaries underscore how the divide between top AI talent and the rest of us is becoming not just a gap, but a chasm.

"It doesn't make sense for engineers, no matter how experienced and with great credentials, to make NBA players' salaries," says Natalia Luka, who studies economic sociology, organizations, and science and technology at University of California, Berkeley. The "exorbitant sums" that tech companies are paying, "not just for AI engineers, but also the computing power, the data centers, all of those costs," she says, is putting enormous "pressure on them to cut costs elsewhere."

"There's this existential dread going around that the field is fundamentally changing," says a former Meta engineer.

Just as top AI employees have humungous offer letters sent their way, thousands of tech employees are watching their job security crumble. Microsoft announced last week that it will lay off 9,000 workers (with the sales and Xbox divisions among those affected), bringing the total number of cuts at the company so far this year to about 15,000. These come as tech companies have spent nearly three years culling their ranks after overhiring and hoarding talent during the height of the Covid-19 pandemic. More than 600,000 tech workers have lost their jobs since Layoffs.fyi started tracking cuts in the industry in 2022. Tech jobs overall, however, have continued to grow, and are expected to do so twice as fast as other sectors over the next decade, according to a new report from CompTIA, a trade association for the IT industry.

Still, the disparity has alarmed many. "There's this existential dread going around that the field is fundamentally changing, and the new entrants have had the rug pulled from under them as most companies are only hiring senior folks," the former Meta engineer told us. While that "makes sense in the short term," the person added, they fear it "is only going to make it impossible for them to grow the next generation of senior engineers."

Some Meta insiders are deeply cynical about the new "Superintelligence" organization led by 28-year-old Alexandr Wang and recent hires from OpenAI and DeepMind. Screenshots from a group of Meta employees on Blind shared with Business Insider show one employee calling the new group "marketing BS to feed the media." Some are concerned that Meta's current GenAI org will be sidelined or laid off, with one post asking, "Should I switch away from GenAI? I feel like we're all going to get fired."

Companies everywhere have increasingly made investments and pivots to AI over the past few years, and other workers have been cut to foot the bills. Meta bought nearly half of Scale AI last month for $14 billion. Big Tech companies from Google to Meta have boasted about the ways they're using AI to write code and become more efficient, all while the career ladder for entry-level software engineers topples. "You probably have to assume that just given the intense focus on all things AI right now, that it does diminish other potential areas of innovation, other potential investments, and by extension, it probably is going to diminish other workers in some capacity," says Tim Herbert, chief research officer at CompTIA.

The concurrent battle between Meta and OpenAI over the industry's most elite talent is far from the only one — companies are willing to pay more for AI talent at much lower levels, too. As of April 2024, entry level AI engineers made about 8.5% more than other engineers, according to Levels.fyi. Mid- and senior-level engineers earn about 11% more than similarly experienced engineers not working directly on AI. Demand for AI skills has grown by 21% annually since 2019, according to management consulting firm Bain & Company.

Not everyone is mad about the pay gap. A current engineer in Meta's GenAI org told us they believe most people at the company understand the rationale, and even support it. "I cannot produce that kind of impact and hence do not deserve that kind of compensation," they said. "I think most Meta employees are pretty much on board with this. If this team delivers disproportionately, we all benefit via stocks."

The rush for AI talent isn't so different from other eras of rapid tech innovation, where few have the skills to perform highly sought after work, says Sonny Tambe, a professor at the Wharton School of the University of Pennsylvania. "What's different now is that the pace is much faster and there could be outsized rewards for companies who win this market, so the stakes are unusually high," Tambe says. "AI companies don't have time to wait for the talent pool to expand, and so the effect is more pronounced."

Experts are skeptical that superstar athlete salaries will become the new norm for top AI talent; as more people are trained to lead generative AI teams, this may even become a passing fad. "The market is going to adjust in terms of having credentialed people who can do this kind of work," Luka says. "Right now, it really is a fairly select group that knows how to run these giant AI systems."

While we wait for more AI experts to emerge, there seems to be a two-tier system splitting inside Meta. Workers on Blind are describing Superintelligence recruits as "the chosen few." One employee sarcastically noted that those working in the GenAI org will "get to label data for minimum wage." Another noted, "Only a select few will get promoted… this is the era of elite internal poaching." Tech companies will still need to invest in other areas to move their goals forward. For now, it's a great time to be one of the few brightest brains on AI.

---

Amanda Hoover is a senior correspondent at Business Insider covering the tech industry. She writes about the biggest tech companies and trends.

Pranav Dixit is the Meta Correspondent at Business Insider based in the San Francisco Bay Area.

Gen Zers are starting their careers in a tough job market. Millennials and Gen Xers can relate.

Business Insider interviewed eight Americans who completed an undergraduate or graduate degree between 2007 and 2010, during the heart of the Great Recession. They found themselves launching their careers in a job market that was even more daunting than the one recent grads are facing today.

As of March, the most recent data available, 5.8% of recent college graduates ages 22 to 27 were unemployed, compared with 4% of the overall workforce ages 16 to 65. That gap is the widest it's been in 35 years of jobs data, according to an analysis by the New York Fed. The recent grad unemployment rate hasn't been this high since October 2013, and in 2010, it peaked at more than 7%.

While early job search challenges disrupted the careers of many of the millennials BI heard from, most said they've managed to not only find work but also build successful careers. One Gen Xer with two master's degrees had to start off in an unrelated field, but now has the career she desired. They all shared how the Great Recession affected their job searches, how they found their first jobs after graduation, and their top advice for today's recent college graduates.

Here are their stories, in their own words. Their quotes have been edited for length and clarity.

Take every interview you can

Allyson Noonan, 39, is a PR consultant and adjunct professor based in New York.

I graduated from Marymount Manhattan College in December 2007 with a degree in communication arts. I hoped to land a public relations role.

While I had excellent internships, no one was hiring when the recession started. While I was job searching, I worked part-time at Anthropologie and babysat.

After submitting more than 100 applications, I still couldn't find work. But then, someone who interviewed me for a job I didn't get contacted me, saying she had a friend in the industry looking for an entry-level position that she thought I'd be a fit for. This position turned out to be my first full-time job at a PR agency, which I started in June 2008.

This experience taught me that it's wise to take every interview you can — even if you're not sure it's a good fit.

My first position was definitely not my dream job. The company focused on an industry I wasn't especially interested in, and I had to accept a salary that was much lower than my peers who graduated just a couple of years before me. However, I learned the foundational PR skills that have served me well ever since.

Your first job doesn't have to be your dream job — or even related to your career

Alicia Strata, 38, is a marketing director at a luxury travel agency based in Alabama.

I graduated from Columbia College Chicago in May 2010 with a marketing communications degree. I hoped to land an internship that would help me get a job at an advertising agency, but the job market was tough.

During the second semester of my senior year, I decided to apply to Teach For America and was accepted. Teaching was completely out of my area of study, but I was looking for something that felt both purposeful and possible in a shrinking job market. TFA offered that: a paycheck, a mission, and structure during chaos. The summer after graduation, I moved to South Dakota to begin my placement as a 4th-grade teacher.

Although TFA didn't directly further my marketing career, it did give me valuable leadership skills and life experience that a traditional path wouldn't have afforded me.

My biggest advice for new college grads is that you don't have to start in your dream job, but you do have to start. Take whatever you can to get going, but keep your eyes open and continue to pursue what you really want. That's what eventually led me back to marketing.

Looking for a job is a job in itself

Kourtney Jason, 39, is the cofounder of Pacific & Court, a digital marketing company. She is based in New York.

I officially graduated from California State University with a journalism degree in May 2008. However, I'd wrapped up my coursework and was available to work in December 2007.

While I applied for journalism jobs all through my last semester of college, I was told I didn't have enough experience despite having multiple internships on my résumé.

I accepted an unpaid internship at Seventeen magazine from January to May 2008. During these five months, I continued to network and apply for jobs until I finally landed a full-time role at TWIST magazine. This was, in many ways, my dream job, but in July 2010, I was laid off.

Despite my early career challenges, I think I've absolutely been able to recover. From that first job, I made so many connections personally and professionally that still impact and influence my work today.

My biggest advice for college grads is to remember that looking for a job is a job in itself. You need to invest time and effort into your search and network.

Stop chasing name-brand companies

Patrice Williams-Lindo, 52, is the CEO of a career coaching platform based in Georgia.

I finished my MBA in 2006 and earned a second master's in instructional technology in April 2008 — both from American InterContinental University. I was seeking consulting roles, but the Great Recession made my search feel impossible, especially since I was coming from a lesser-known university.

I knew I had to change my job search strategy. A career coach told me not to chase name-brand companies but to target smaller, boutique consulting firms that would be more likely to value my skills. I took that advice.

In September 2008, I got my first consulting role at a small firm — a job that finally put my degrees to use. That opportunity became the foundation for a consulting career that eventually led me to start my own business.

While I searched for a job, I worked full-time teaching Spanish and business at a private high school. Although education wasn't my desired field, it allowed me to stay employed while I kept looking.

My biggest advice for recent graduates is that your job title doesn't determine your value. If you're overlooked, use the skills you have — even in unconventional ways — while you aim for the career you want.

You'll have to get creative if your industry is hit especially hard

Tye Davis, 40, is the CEO of an interior design firm based in Florida.

I graduated from the Art Institute of Pittsburgh in December 2007 with a degree in interior design. Given that some interior design jobs were commission-based, landing one wasn't too difficult. The main challenge early in my career was that I was offering an inessential service in a declining housing market tied to the recession.

In searching for a position, I sought out high-end stores, thinking that high-income individuals were at less risk of losing their homes. In January 2008, I started a full-time position as an interior designer at a local furniture store.

Looking back, I don't think the Great Recession had a lasting impact on my career. If anything, it made me more prepared for a cooled market or downturn. My biggest advice for new college grads is to attend in-person networking events within the field you are searching in.

An unpaid internship was worth it for the experience

Libby Dugan, 38, is an independent PR consultant based in Indiana.

I graduated from Indiana University in May 2009 with a degree in political science. I was looking for jobs in state government and public affairs. However, the recession made it extremely difficult to secure a career in the months after graduation.

I continued to search for a full-time paid role while I did an unpaid internship at the Department of Agriculture, followed by a paid internship at a law firm. Working, even unpaid, kept me busy and added experience to my résumé. In August 2010, I found my first full-time position as a special assistant to Indiana's lieutenant governor.

My biggest advice for today's recent grads is to be open to a job that may not fit your college degree. I work in PR now, and I don't have a degree in marketing or communications. I learned far more from real-world experiences.

In-person networking could help you get noticed

Mandi St. Germaine, 38, is an elementary curriculum coach based in Louisiana.

I graduated in December 2009 from Nicholls State University with a degree in General Studies. I hoped to find a job as an educator in a private school setting while I pursued my alternative teaching certification, but the challenging job market disrupted my plans.

I secured my first full-time teaching job in the summer of 2010 after relocating to North Carolina, where my husband was deployed as an active-duty soldier. Being persistent and flexible helped me in my search. I met with school personnel, attended hiring fairs, and was open to accepting temporary work until a permanent job was offered.

My biggest advice for recent college graduates is not to be discouraged if your career path doesn't play out like you hoped it would. Take this time to strategically network and be willing to take on positions that may not be your dream job. The setback may just be the reason a door opens in the right places.

I prioritized stability and found it

Judnefera Rasayon, 41, is an independent communication coach based in Maryland.

I graduated from Princeton University in 2006 with a degree in public and international affairs. In June 2008, I received a graduate degree in public policy from Harvard University. In July 2008, I started my first full-time job as a foreign service officer with the US Department of State.

While I was in school, I applied for a fellowship at the Department of State that essentially guaranteed I'd have a job for a few years after graduation. I hoped that would help me weather the storm of the Great Recession, and it did. I worked there for the first six years of my career.

My job search strategy consisted of looking for a job and career in a stable industry and then relentlessly pursuing that. My biggest advice for recent college graduates is to be flexible about what you are willing to do for work, even if it's not what you studied or thought you'd be doing. The traditional 9-to-5 isn't the only option for stability and success, and being open to different career paths can be helpful.

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• Elon Musk said on X that he's forming a new political party amid a feud with President Donald Trump.
• He said it would be called the "America Party."
• Musk has publicly criticized Trump's spending bill, which the president signed on July 4.

Elon Musk declared on X the formation of a new political party amid his ongoing feud with President Donald Trump over the "Big Beautiful Bill."

"Today, the America Party is formed to give you back your freedom," Musk wrote in an X post on Saturday afternoon.

Musk's post came a day after he conducted a July 4 poll, asking X users if they want "independence" from the two-party system. About 65% of the 1.25 million participants voted "Yes."

Musk, who was a staunch supporter of Trump's 2024 reelection bid, has been publicly critical of the president's "Big Beautiful Bill," a sweeping domestic policy bill that includes extensive tax cuts and could add more than $3 trillion to the national debt, according to the Congressional Budget Office.

The Tesla CEO has characterized the bill on X as a form of "debt slavery."

Just days after stepping away from his work at the White House DOGE Office, which was tasked with cutting spending and reducing the deficit, Musk in June called the legislation a "massive, outrageous, pork-filled Congressional spending bill."

Musk then proposed the idea of forming a new political party that represents the "80% in the middle."

Musk's repeated attacks on the bill led to a spectacular public fallout between him and the president. Trump even suggested that his office would look into possibly deporting Musk, a South African immigrant.

Musk's July 4 poll on X came the same day Trump signed the bill into law.

The CEO said on his social media platform that one way the new party could work is to focus on winning just a handful of Senate seats and House districts that could serve as the "deciding vote" on "contentious laws," given the "razor-thin legislative margins" in Congress.

Musk and a White House spokesperson did not respond to a request for comment.

Musk's back-and-forth regarding his involvement in political affairs has been followed by volatile times for the CEO of Tesla, his EV company.

Wall Street analysts, including Tesla bull Dan Ives, have said that Musk's politics could lead the company astray if the chief executive doesn't snap back into focus.

Earlier in June, Baird analysts downgraded the Tesla stock, noting that the Musk-Trump spat adds "uncertainty to TSLA's outlook.

• Brad Barrett shares three questions everyone must ask before pursuing financial independence.
• Barrett emphasized the importance of rethinking spending habits and prioritizing savings.
• Open discussions about money with your partner are crucial for a successful relationship, he said.

This as-told-to essay is based on a conversation with Brad Barrett, who hosts the ChooseFI podcast. Business Insider has verified his professional history.

My journey to financial independence, or FI, started long before I had heard of or read about this term.

I'm a Certified Public Accountant, and I began my career at a big accounting firm. I lived at home with my parents when I got my first job and started saving big chunks of my salary. I was frugal and made decisions in the service of a life I wanted in the future.

In 2013, I read the Mr. Money Mustache blog, and it all made sense to me. His post on the "shockingly simple math behind Early retirement" has become one of the seminal articles in our community. The article was a thunderbolt in my life, and my reaction was: "Oh, wow, I can actually do this."

I left my full-time job in early 2015, at age 35, about 13 years after I started working. Since then, I have gone on an entrepreneurial journey and have worked on a travel rewards website, a newsletter, and a podcast called ChooseFI, which I have been running for nine years.

To me, FI is not only about quitting your job early and never working again. It's about reaching a point where we can control the most important and finite aspect of our lives, which is our time.

FI can be a yearslong journey that requires making changes and sacrifices. From talking to people on my podcast and answering questions at FI events, here are three questions I wish everyone would ask themselves before starting their journey to FI.

1. Are you ready to make a change?

One of the biggest issues people have is that they are ashamed of their financial lives. They feel that they've made mistakes and are stuck. My question to them is, are you ready to make a change? If you've messed up financially, are you ready to stop beating yourself up about past mistakes? I've made calamitous money mistakes, but I've still reached FI.

If you are working toward building a nest egg, are you willing to think long term and forgo everyday convenience in exchange for building a better life in the future? It's about not succumbing to instant gratification like buying fancy cars and going out to dinner all the time. It's also about the little things, like planning a week's worth of meals that you can cook at home, so you don't end up getting fast food just because it's 6 o'clock on a Tuesday evening and no one's eaten yet.

On the other hand, if you are someone who has a significant savings rate, are you willing to spend more of it to ensure you are making your life better?

2. Can you rethink what 'afford' means?

In modern American society, saving money is seen as countercultural and unusual. And that's ridiculous.

In order to live a functioning life, you need to have a savings rate. And you need to account for that rate every time you ask yourself whether you can afford something.

Some people make $5,000 a month and think that means they can spend up to $5,000 that month. That mindset needs to change to, "Hey, I need a savings rate. Can I afford this if I'm ever going to retire or have any kind of financial security?" If you decide your savings rate is 30%, that means you only have $3,500 to spend a month.

This doesn't mean you're depriving yourself. It's about prioritizing spending on what is most important to you and saving to have freedom in the future.

3. Are you ready to have conversations about money?

While no one should stuff financial independence down other people's throats, you have to have conversations about money with your family or partner.

I've seen every combination of FI relationships work — many where one partner is working and the other has retired early. Those were the result of significant conversations that weren't just, "Hey, I'm retiring today, but can you still pay the bills?"

Getting on the same page financially is important for any couple, whether in the FI community or not, because we know, money is one of the biggest stressors in life and in relationships.

It's OK to date somebody who has significant debt, because that happens. But are you on the same page? Are they trying to pay that debt off?

There's, of course, no requirement that you have this certain net worth to date somebody in the FI community. But is it going to go well if you have a 50% savings rate and the person you're dating is going more and more into debt every month? No.

The Department of Government Efficiency (DOGE) cut hundreds of jobs as the National Weather Service earlier this year.

The Philadelphia 76ers take on the Utah Jazz on Saturday in an exciting NBA Summer League play live from Salt Lake City.

Seven-time world champion Lewis Hamilton has opened up on the factors that affected his qualifying run at Silverstone.

The Minnesota Lynx (15-2) play host to the Golden State Valkyries (9-7) in WNBA action on Saturday night.

The Indiana Fever hosts the Los Angeles Sparks on Saturday night. Indiana comes in on a two-game win streak while the Sparks have lost the last two.

The Memphis Grizzlies take on the Oklahoma City Thunder on Saturday in NBA Summer League action out of Salt Lake City.

During a recent interview, Dallas Cowboys star receiver CeeDee Lamb shockingly praised Philadelphia Eagles fans by dubbing them more passionate supporters.

Week 5 of CFL football is here, and the BC Lions (1-3) visit the Montreal Alouettes (3-1) on Saturday night in a cross-division matchup.

How, when, and where you can watch episode three of The Gilded Age season three.

Potential impacts include damage to porches, awnings, and mobile homes, scattered power outages, and road closures due to debris.