Meta paid VR developers salaries of up to $1 million. Facebook’s owner is now in financial trouble.

Zuckerberg has dubbed 2023 the “year of efficiency,” as he promised to trim middle management and cut superfluous projects.Former Meta human resources employees say the company’s unusually high salaries for developers building virtual reality products is part of a larger trend in which the company is willing to outspend competitors to lure the best talent for a wide range of jobs.

Meta, whose business heavily relies on digital advertising, has been trying to overcome severe economic challenges. The company is facing intensifying competition for advertising dollars and users from new rivals such as the short-form video network TikTok. New privacy rules from Apple, the war in Ukraine and rising inflation have created market instability, prompting some digital advertisers to pull back on spending on social media ads.

Meta is also investing in research to improve the underlying technology of its devices to offer users a more realistic sense of presence in the metaverse. The company has bought up at least seven virtual reality studios to improve the range of apps available on its devices. Days before the company renamed itself from Facebook to Meta in October 2021, it

While the Menlo Park, Calif.-based company has indicated it may make cuts in Reality Labs, the company hasn’t backed away from the metaverse betOf the virtual reality developers who were offered jobs at Meta over the last nine months, those that were in the top 90th percentile in terms of total compensation earned an average of $538,800, according to data from, which tracks salaries in the tech industry.

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Did Mark Z. not watch the movie 'Surrogates'

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