Twitter recently paid out its senior vice president of engineering $10.3 million, which is more than the paychecks that the company’s CTO, CFO, and COO. Owing a shortage of top engineering talent in Silicon Valley is forcing paychecks of skilled engineers to inflate beyond imaginable proportions. The hot demand for engineers is driven in part by a growing number of start-ups, venture capitalists say. Some 242 Bay Area companies received early-stage funding - known as a seed round - in the first half of this year, according to consultancy CB Insights. That is more than the number for all of 2010.
Read the Economic Times news report here.