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A leader of PLDs If the Internet relies on device manufacturers such as Lucent and Cisco Systems to supply technological components, these companies rely upon Altera to keep the components humming along. Altera is today one of the largest producers of specialized computer chips used by companies in the networking, telecommunications, and industrial machinery fields. The company currently provides eight families of PLDs, or "programmable logic devices," making it easy to meet varying needs of its consumers. Because Altera's logic devices are programmable, Altera's clients can craft the chips to meet their own needs, using Altera software. Pricey but manufactured under precise standards, PLD generally lets companies program their products quicker than custom logic chips. Chips get smaller, company gets bigger Founded in 1983, Altera has grown rapidly in the last decade, going public in 1988, and introducing new generations of chips in 1988, 1991, and 1992. In 1994, it acquired Intel's PLD line and increased its market share to 20 percent. In 1995, its sales more than doubled from $199 million to $402 million, and its stock price jumped from about $10 per share to $25 per share. The year 1997 proved so profitable that the company handed out $10.1 million in profit shares and bonuses. The next year, however, Wall Street analysts reduced earning estimates, fearing a slowdown attributed to the Asian slump. During a year in which the overall PLD industry slumped, Altera still managed its sixth-straight profitable year, earning $654.3 million in revenue. Industry watchdogs expect the PLD market to grow to a $7.4 billion market by 2001. Within this market, Altera provides the fastest high-density chips, which boast in-system speeds over 100 MHz. Over the last several months, Altera has been busy with acquisitions, obtaining Boulder Creek Engineering, Hammercores, Inc., DesignPRO Inc., and most recently, Right Trak CAD corportation in May 2000. In October 1999, Altera signed over its MAX(R) 5000 product line over to Cypress Semiconductor Corporation in return for an estimated $9 million dollar gain. Go overseas, young company A little more than half of Altera's sales are in the U.S.; Japanese and European companies make up the bulk of the rest. Its customers are primarily makers of communications, computer, and industrial equipment, with the communications industry accounting for close to 60 percent of sales. Altera announced expansion of its European Technology Center this February to meet the growing needs of its European clients. The company has been actively recruiting employees for this further development and plans to hire through the rest of the year. Altera has a highly operational referral program that supplies almost 25 percent of its hires. There is even an annual $10,000 grand prize drawing for a lucky employee who referrs a successful hire.
Altera's web site, located at www.altera.com, provides detailed descriptions of job openings, with an e-mail address of a contact for each position. Opportunities for recent college grads are good: an entire Web page is devoted to applicants who fall into this undergraduate category. In many cases, a degree in electrical engineering is required. Altera sends representatives to many college campuses and job fairs. At its web site, the company publishes a comprehensive recruiting schedule, which includes interview dates and information about which departments will show up where. Some departments have internship programs for college students, and the company also offers rotational development programs for recent graduates. These one-year rotations give new employees a chance to work in each discipline within a department.
Focused on staying number one Altera's position as an industry leader in PLDs puts its employees in a favorable position in the industry. "Altera's a good place to work," says one insider. "Technologically, there's a lot of interesting work going on here, in design and software. It's a fairly high-profile company, in a portion of the market that seems to be on the verge of its next wave of growth." Other Altera staffers comment on how the success has reassured employees about their futures while avoiding complacency. "Overall, the company is on the conservative side, but this is something that tends to result in a better financial situation," an insider reveals. "The management is professional and not nearly as liberal as the more trendy high tech companies," another employee adds. "Altera is a very focused company, and they work very hard to be number one," responds a third. In the top 10 percent for pay Altera's spot at the top of the heap has also meant financial rewards for its workers. "Financially, Altera is a great place to be - there's an employee stock purchase plan that's pretty nice," gushes one informant. Altera regularly monitors industry averages and often offers salaries in the upper fifth of the industry. "Salaries recently got bumped up on a company-wide basis, so I think we're in the top 10 percent of companies in Silicon Valley for new college grad salaries," says one reassured contact. "But more importantly," he continues, "Altera offers an enviable employee stock-purchase plan, 401(k) savings program, educational reimbursement, and other perks that really reward people who are interested in investing in their futures." For those more interested in turning bonuses into down payments on new sports cars, take heart: "Stock options and the employee stock purchase plan can turn into a lot of additional pay." The vibrancy of a start-up, the stability of a winner The company atmosphere reflects the company's dominant position. "Altera is at a stage where it still has the vibrancy and energy of a start-up, while also having established the financial stablity to assuage employees' fears about economic security and benefits," comments one employee. "The dress code is symbolic of these values," one source notes. "People dress professionally, but ties and jackets or business suits are not normally required." And unlike some other West Coast tech firms, sandals and fooseball games may not be all that common. "The work environment is pretty relaxed, though that varies by what department you're in," says one employee. "Dress code has changed to business casual to casual, but it's not sandles or bare feet," says another. The Valley - one big multicultural sausage party But like most of Silicon Valley, women are still outnumbered by men. "Because women are unfortunately a minority in most universities' technical fields, recruiting female engineers is a daunting task, but I think Altera is quite aggressive about pursuing women for these departments," said one insider. Not that Altera is some seething cauldron of harrassment. The Altera population is described as ethnically diverse, and women are better represented in engineering departments than is normal for the industry. "I don't think there's anyone who wouldn't be called a minority here," said one employee. "Altera encourages communication, so chances are you will feel comfortable openly discussing any concerns with your manager," believes one insider.
Human Resources More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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