Now that Palantir has filed to go public, the secretive data company will soon be a lot less secretive than before. For the moment, however, the company remains private and shrouded in mystery - except in the UK, where its subsidiaries (Palantir UK Ltd and Palantir Technologies UK Ltd) are bound to file yearly accounts under local regulations. Palantir UK Ltd. has just released these accounts for the year ending December 2019.
Palantir UK Ltd provides, 'software, consultancy, sales and marketing and R&D support' to UK clients. Its newly released accounts reveal a net profit of £1.8m on revenues of £9.6m for 2019. This is lower than 2018, when Palantir U.K.'s profits were £2.3m on revenues of £11.1m.
However, Palantir UK is by far the smaller of Palantir's UK operations. The much larger Palantir Technologies UK provides 'marketing and sales support' to Palantir Technologies in the U.S., which builds Palantir's software and data platforms (including, most likely, Palantir's work on COVID-19 for the NHS). Palantir Technologies UK has yet to file accounts for 2019, but in 2018 its turnover was £171m, up from £130m a year before. However, it swung to a £15m net loss as rising operating expenses consumed 2017's £6m in profit.
If you want a job with Palantir, Palantir Technologies UK is most likely to furnish one. The company employed 434 people at the end of 2018, up from 343 one year earlier. The vast majority (300 people) were in sales and marketing.
By comparison, Palantir UK's accounts 2019 accounts show it employing just 61 people, of whom 9 were consultants and 52 were admin staff. Consultants at Palantir work with client companies to apply Palantir's software and data products to client needs. Palantir UK seems to be trimming its consultancy ranks (there were 17 consultants in 2018).
Neither subsidiary is likely to be easy to work for. Former Credit Suisse CEO Tidjane Thiam famously revealed that Palantir only accepts one in every 100,000 applicants.
What are salaries like at Palantir?
Average wages and salaries at Palantir UK weren't great in 2019, at £61k per head. These were considerably less than the average £211k per head paid at Palantir Technologies UK in 2018.
Of course, Palantir isn't just about the pay. It's also about the kudos (the CEO previously described it as, "a colony of artists") and the perks. The WSJ says employees were served breakfasts of artisanal bacon - until it became apparent that the company needed to make more money and standard bacon was served instead. Of course, there's also the potential to make money when Palantir does go public, and with an IPO on a horizon this benefit is now far more tangible than before.
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