OpenAI, the developer of ChatGPT, offers stock-based compensation to employees that analysts say is unusually large even compared with major Silicon Valley tech companies.
The Wall Street Journal (WSJ) said on the 31st (local time) that based on financial materials and data analysis provided to investors, OpenAI's average stock compensation per employee in 2025 is estimated at about $1.5 million (about 2.16 billion won).
Even after adjusting for inflation, it is about 34 times the average stock compensation paid in the year before the initial public offering (IPO) by 18 major technology corporations that went public since 2000, and more than seven times the pre-listing compensation level of Google, which was once considered generous.
The share of stock compensation relative to revenue also appears high. According to figures cited by the WSJ, OpenAI's stock-based compensation is estimated to reach about 46.2% of 2025 revenue. Observers say the share is higher than that of large tech corporations such as Alphabet (Google) and Meta, as well as corporations that faced equity dilution controversies due to excessive stock compensation.
The expansion of such compensation is seen as largely defensive to prevent the outflow of core AI talent. The WSJ analyzed that as competitors pursue researchers and engineers with large compensation packages, the battle for talent has intensified, and OpenAI is also increasing compensation to maintain its lead.
OpenAI also recently tweaked its compensation system. It reportedly scrapped the so-called "vesting cliff" rule, which required new hires to work at least six months to receive stock compensation.
However, some note the burden on the expense side could grow. The WSJ reported that large-scale stock compensation can increase labor-related expenses and widen losses, and if share issuance rises, dilution of existing shareholders' equity could weigh on the stock's value. Investor materials are also said to include an outlook that stock-based compensation expenditure could expand to around $3 billion a year (4.3 trillion won) around 2030.