Sep 3, 2024
Nvidia employees apparently make so much money from their stock options that the company has a Slack channel dedicated to offering up personal finance tips.
Yet many of the chipmaker’s employees can’t simply enjoy their millions. Instead, they’re stuck in the office. Bloomberg recently spoke with 10 former and current employees, who report that a “cultural problem is brewing” within the chipmaking company as the work hours remain long, stressful and grueling.
Advertisement
Nvidia stock has increased 2,374% since 2019 thanks to the chips it makes being used in AI technology. The 31-year-old company’s employees can vest their share options after four years. And Bloomberg reports that with the massive increase in the company’s stock, many employees have become overnight millionaires.
The Nvidia employees get worked by their job, rather than letting their job — and their money — work for them. But you don’t have to be chained to your desk to build yourself a tidy fortune.
Find a lazy girl job
Although most Nvidia employees told Bloomberg they’re working long hours for a CEO who likes to “torture people into greatness,” there are rumors that there are some who skate by doing nothing at all. A former employee told the publication that some employees complained about colleagues who were acting like they were “semi-retired,” just waiting for their stocks to vest.
Though another Nvidia employee told Bloomberg that it’s fairly hard to get away with “resting and vesting,” it can happen at the company.
But this semi-retirement path is the one that can make you the most money, according to Gabrielle Judge, a self-proclaimed “anti-work girlboss” who is popular on TikTok.
Judge advocates for getting a “lazy girl job.” She explained in a 2022 TikTok that this is usually a remote or hybrid position with a high salary, low expectations and no technical skills required. You can finish your work for the day in less than eight hours. Examples of lazy girls jobs are customer success manager or marketing associate.
Advertisement
In a later video she put out this year, Judge breaks down the math of how a lazy girl job with an $100,000 annual salary earns you more money per hour than a more demanding job (e.g. a 16-hour day) with a $200,000 annual salary.
By Judge’s argument, an employee will bring in $52 per hour whether they work eight hours at a $100,000 a year job or if they work 16 hours at a $200,000 per year job.
“Hustle culture makes you broke,” Judge tells her followers.
Must Read
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Robert Kiyosaki begs investors not to miss this ‘explosion’ — says this 1 asset will surge 400% in a year
- Vanguard reveals what could be coming for U.S. stocks, and it’s raising alarm bells for retirees. Here’s why and how to protect yourself
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Unshackle yourself from the golden handcuffs
Many Nvidia employees have enough money to retire. But they’re waiting on the next big stock payout until they finally do, Bloomberg reports. The “golden handcuffs” keep many people at their desks, rather than out enjoying their millions.
You don’t have to endure a never-ending hustle in order to retire with a comfortable amount of wealth. You can make your money work for you to get to a point where you don’t have to work in order to survive.
A good way to do this is to contribute to your 401(k) on a regular basis. Though teachers don’t typically make a million dollars a year, many end their careers with that amount. The median teacher salary in the U.S. is $64,390 a year, according to the Bureau of Labor Statistics data. But as a Ramsey Solutions study discovered, teachers are often able to retire as millionaires because they consistently invested their money into their 401(k)s.
You May Also Like
- Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast
- This 20-year-old lotto winner refused $1M in cash and chose $1,000/week for life. Now she’s getting slammed for it. Which option would you pick?
- Warren Buffett used these 8 repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)
- Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)
Sabina Wex is a writer and podcast producer in Toronto. Her work has appeared in Business Insider, Fast Company, CBC and more.
