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The Big One: Who pays the most for engineers?
Twenty U.S. companies pay their software engineers a median compensation of at least $400,000, five pay out at least half a million dollars and OpenAI, the fast-growing artificial-intelligence startup behind ChatGPT, pays nearly $1 million.
That's according to Levels.fyi, a site that tracks total compensation for a variety of tech roles. The numbers show just how lucrative engineering jobs can be at some of the country's top tech firms as companies compete for talent, even in a down market.
Levels.fyi combines a company's base salary, stock awards and bonuses to tally its compensation ranking. Compensation figures are based on self-reported offer letters from Levels.fyi users.
At the median, OpenAI, which is led by Sam Altman, pays its software engineers $925,000 in total compensation, according to Levels.fyi. That amount combines $300,000 in salary and $625,000 in stock-based compensation for employees at the median. The sum is almost $300,000 more than the reported median compensation at hedge fund PDT Partners, which ranks second on Levels.fyi's list, at $650,000.
Entertainment giant Netflix, self-driving car firm Cruise and cloud company Snowflake also rank among Levels.fyi's top 10 firms for software engineers, each paying more than $470,000 in total compensation.
See the full list: The 50 highest-paying companies for software engineers
Startups to watch
- LightForce, a startup that uses digital scans to create 3D-printed braces for orthodontists’ patients, raised $80 million in new funding. The company’s software integrates AI to read the digital scans, build digital representations of patient anatomy and determine the best teeth positions. The startup said last year it grew over 300% and that about 10% of orthodontists in North America have a LightForce account, BostInno reports.
- When you have a car-related question or need, a Palo Alto, California-based startup is hoping you ask Jerry. Jerry is an app and website that offers auto insurance, car-loan refinancing, repair estimates and advice. It recently raised $110 million in fresh funding. The startup has raised $242 million since launching in 2017, Bay Area Inno reports.
- Web3 startup Narval, co-led by University of Cincinnati, Kroger, GE and Cloverleaf alum Matt Schoch, recently raised $4 million in new funding. Narval is building a platform that allows organizations to securely use complex digital assets like NFTs in the Web3 space, Cincy Inno reports.
- Yoshi, a gas delivery company that moved its headquarters from Silicon Valley to Nashville, Tennessee, in 2021, has raised $25 million in a planned $40 million funding round. The company currently offers a range of vehicle services to customers in 15 states, including virtual vehicle inspections, and is backed by investors like ExxonMobil and NBA player Kevin Durant, Nashville Inno reports.
- Both&, an apparel company and clothing brand that sells clothes for transmasculine and non-binary people, landed a marketing deal with nonbinary actor Bella Ramsey. Ramsey played the fictional character Ellie on the hit HBO drama series "The Last of Us," earning their first Emmy Awards nomination for the role. Ramsey also starred in another HBO drama, "Game of Thrones." Both& raised a $1 million seed investment round last fall, according to New Mexico Inno.
Steve Jobs' son launches a VC fund
Reed Jobs, son of the late Apple CEO Steve Jobs, has launched his own venture firm.
The firm, Yosemite Management, is a spin-off of Emerson Collective, his mother Laurene Powell Jobs' investment and philanthropic organization.
In addition to launching the firm, Jobs has closed its first fund. Dubbed Yosemite Fund 1, the fund was oversubscribed and ended up raising $200 million, according to a press release. The fund will focus on health care-related startups, specifically those focused on cancer treatments. Yosemite will both make traditional venture investments and offer grants.
FULL STORY: Steve Jobs' son Reed has launched his own venture firm
Weird and Wired: A drone that can fly ... and roll on the ground
Get you a drone that can do both.
Phoenix-based Revolute Robotics has developed a robot that combines drone and rover capabilities, allowing it to conduct inspections in confined spaces. It developed a drone mounted inside a spherical exoskeleton that contains a mechanism to enable the drone to roll on the ground when it's not flying to collect data.
The benefits aren't just about exploring more spaces. The startup says, by being able to roll on the ground, it also saves energy, operating five times longer than a traditional drone.
READ MORE: Revolute Robotics develops flying robot drone that can also roll along the ground
