“Look at the recruitment advertisement of Xiaomi Auto. The salary for the same position can be doubled. Who do you think is not touched?” Cui Ye, an NVH engineer from a domestic leading joint venture vehicle manufacturer, said in an interview with a reporter from China Business News recently. In the auto-related job advertisements released by Xiaomi, the monthly salary of auto-related positions is basically more than 20,000 yuan, and the monthly salary of some core positions is more than 30,000 yuan. Taking Cui Ye’s NVH engineer as an example, Xiaomi Auto has given a monthly salary range of 30,000 to 60,000 yuan in the recruitment in Shanghai, and will pay 14 months of salary each year.
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In other words, if Cui Ye can enter Xiaomi with the highest salary in the range, his pre-tax annual income will reach 840,000 yuan. Cui Ye said: “This is almost the same as the current company’s director-level management income.”
The reporter noticed that in the past six months, quite a few auto companies have experienced frequent resignations of employees. Cui Ye told reporters that in the NVH department of a joint venture vehicle factory, a team leader took almost all team members and jumped to a new car manufacturer.
Although some employees have not resigned, their professional mentality has undergone great changes. Xu Chen, an engineer of a German-based joint venture car company, told reporters that recently with students from different car companies, many students from traditional car companies asked whether students entering the new power “have any internal push”.
“A lot of people in our company are queuing to go to Xiaomi!” Cui Ye’s joke reflects the current situation to a certain extent.
The temptation is more than doubling the salary
“5 or 6 years ago, there was a similar opportunity back then, but the attraction is far less than it is now, and the situation is different.” Cui Ye told reporters. Around 2015, new forces in car-making have sprung up like mushrooms after a rain. At that time, new forces such as Weilai and Xiaopeng also offered high salaries and hired relevant talents from traditional car companies, but the popularity of related positions at that time was not It’s so high now.
Around 2015, the sales of traditional car companies are still in a stage of rapid development, and the trend of new energy vehicles is not significant at the moment. Cui Ye believes that at that time, joint venture car companies still represented relatively high income, stable work and easy life. Many people who were willing to transfer to new power car companies were often because of unsatisfactory lives in joint venture car companies, or income. Relatively ordinary practitioners of autonomous car companies.
“The previous batch of recruitments by new power car companies such as Weilai, Xiaopeng, Ideal, etc. were also very’tempting’ in terms of salary, but at that time they gave up decent jobs and income and went to a start-up company full of uncertainties in the future. , I don’t have such courage yet.” Xu Chen said.
Some of the new car manufacturers have been dubbed “PPT Cars” from the very beginning. At the same time, among the hundreds of new car companies that entered the game, bankruptcies, salary cuts, and wage arrears are often reported. negative news. Even the heads of Weilai Automobile and Ideal Automobile have successively reported news of salary cuts and layoffs. Li Bin, the founder of Weilai Automobile, is called the “worst person in 2019” by public opinion.
For Cui Ye and Xu Chen, who had a stable, decent income and not bad income at that time, even if the salaries of the new car manufacturers are high enough, the uncertainty of the future dispels the idea of many of them switching jobs.
Now the industry environment has undergone tremendous changes.
“I have been working for almost 7 years, and my income has increased very little, especially in the last 3 years. Not only has there been no increase, but there has been a decline.” Xu Chen said. Xu Chen, who has passed the 30-year-old mark, has turned from a freshman to a veteran employee of the department in a traditional car company, but he still has difficulty seeing the hope of promotion. Failure to be promoted means that it is difficult for a breakthrough increase in salary. At the same time, starting from the second half of 2018, China’s auto market has encountered great downward pressure, and the performance pressure of auto companies themselves has also affected Xu Chen’s income to a certain extent.
“Our annual year-end awards are linked to sales. The pressure of sales decline in the past two years has been so great, and the year-end awards are naturally much less than when sales were good in the past few years.” Cui Ye told reporters.
On the other hand, after the big waves scoured the sand, the new car-building forces that seemed “unreliable” in the past have gradually moved on to the right track. Weilai Automobile, Xiaopeng Automobile, and Ideal Automobile have successfully listed on the US stock market. Xiaopeng Automobile and Ideal Automobile have also achieved secondary listings in Hong Kong stocks. In the delivery data in August this year, Ideal Auto delivered nearly 10,000 vehicles with just one product, and the products of Xiaopeng Auto and Weilai Auto also achieved good sales results.
At the same time, since 2021, companies such as Baidu and Xiaomi have officially announced that they have entered the company to build cars. Not only have they provided more high-paying jobs, but the endorsements of big technology companies have reduced Xu Chen’s doubts about the uncertainty of the future.
“Now is a better opportunity for transformation. Companies such as Baidu and Xiaomi will certainly not owe salaries or go bankrupt soon like many new car manufacturers before. Didn’t Lei Jun say that he had prepared US$10 billion to build a car? This has exceeded the total financing amount of many previous new-power car companies.” Cui Ye said that with large companies as endorsements, he is even more optimistic about the prospects of these technology companies in cross-border car manufacturing.
In addition to the sharp increase in salaries, newly entered cross-border car manufacturers such as Xiaomi and Baidu can also provide more possibilities for personal development.
A headhunter working for Jidu Automobile (Baidu and Geely joint venture automobile company) told reporters that for a marketing department position he recruited, the salary is relatively open (there is no clear upper limit), and the job will be directly reported to the boss of the marketing department. At present, this team has only set up a Headcount (the number of employees expected to be recruited). This means that when the team is expanded in the future, the early recruits will most likely become Team Leaders.
Traditional auto companies have a complete process system, with a heavier level of hierarchy between the upper and lower levels and the predecessors. It is difficult for newcomers to get promotion opportunities until the leadership and the reserve of cadres with more seniority and higher rankings are not promoted. Being able to join the start-up car manufacturers such as Xiaomi and Baidu will have better prospects for promotion.
Liu Yun earlier moved from Alibaba to the marketing department of a new energy car company. In his opinion, the entry of Xiaomi and Baidu to build cars will also bring the past Internet companies and other game methods into the auto industry.
“Although the outside world has criticized the 996 and large and small work system of companies such as Ali and Byte before, some internal employees may not reject this. Many people enter the job with a high investment and high income mentality. At the same time, some people even hold it. Enter the enterprise with the goal of wealth and freedom.” Liu Yun told reporters.
In the past few years, “freedom of wealth”, “100-month end-of-year bonus”, “million option”… these are all myths about the richness of the workplace that have occurred in the Internet and technology companies in the past few years. When the Internet and technology companies cross-border to build cars, they are also expected to replicate the myth of rich wealth in the automotive field. Earlier, there was news that Xiaomi Auto will grant employees independent auto company options, which will be issued in five years. However, Xiaomi officials did not respond to this.
A new round of talent battle
According to the data released by Liepin Big Data, the number of new jobs in the field of new energy vehicles in the first half of 2021 has increased by 94.54% over the same period in 2020 and 60.12% over the same period in 2019. The vast new energy automobile market has brought a large number of new-type talent needs, and with it, the talent gap continues to widen.
Data shows that since the beginning of this year, in the automotive industry, the demand for autonomous driving R&D and smart cockpit design positions has increased by more than 1.8 times year-on-year. In the first half of this year, among the top ten positions in the new energy automobile industry, perceptual algorithm, AI, and autonomous driving algorithm engineers accounted for half of the seats.
The demand of enterprises is growing rapidly, but talents are not cultivated in a short time, and the battle for talents related to new energy vehicles will intensify. Xiaomi Motors official said that it has formed a team of nearly 300 people, and these 300 people are selected from 20,000 resumes. Jidu Automobile CEO Xia Yiping said in an interview that he interviewed two to three hundred people in a short period of time. On some weekends, he even interviewed from 9 a.m. to 9 p.m.
Facing the aggressive “grabbing” offensive of new car-building forces, traditional car companies have also issued various new measures to deal with the problem of personnel loss. Geely Automobile stated in its share award plan that it will actively embrace change, transform into a technology-based enterprise, attach importance to attracting and retaining talents, build and improve the revenue sharing mechanism between the company and employees, and encourage employees to work harder, create value, and promote The long-term and healthy development of the enterprise.
On August 30, Geely Automobile (00175.HK) announced on the Hong Kong Stock Exchange that the company’s board of directors approved a share award plan with a total of no more than 350 million shares. The first batch of plans awarded approximately 1.67 to 10884 motivated objects. 100 million shares, the granted shares will be issued and allotted to the trustee at a par value of HK$0.02 per share. According to Geely Automobile’s today’s closing price of HK$27.10 per share, the first batch of 167 million stocks is worth about HK$4.526 billion (over RMB 3.7 billion), and the total cost to be paid by the trustee is only HK$3.34 million. Nearly 4.5 billion Hong Kong dollars.
GAC Group (601238.SH) released the “2020 A-Share Stock Options and Restricted Stock Incentive Plan” in September 2020. The exercise price of 110 million stock options is RMB 9.98 per share and 110 million restricted stocks are granted. The price is 4.99 yuan per share. Today, the closing price of GAC Group in A shares is 18.64 yuan.
In the “2021 Stock Option Incentive Plan” released by Great Wall Motors (601633.SH) on May 25 this year, 397 million stock options were granted to employees at the market price (approximately 33.56 yuan per share). Although the exercise price is not low, Great Wall Motor’s share price has nearly doubled since the announcement of the reform plan in May, closing at 61.21 yuan today.
(At the request of the interviewee, Cui Ye, Xu Chen, and Liu Yun are all pseudonyms)
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