Lowest bonuses in 8 years: survey

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VIRUS EFFECT:
The 104 Job Bank survey found that bonuses in financial firms would equal 1.84 months of salary, but 1.1 months in most firms.

  • By Crystal Hsu / Journalist

End-of-year bonuses will likely be the lowest in eight years, according to a survey released yesterday by 104 Job Bank (104 人力 銀行), as 93.8% of companies expect bonuses equivalent to 1.1 months’ salary, or 0.05 months less than the last time. year.

It is a tradition in Taiwan for companies to hand out year-end bonuses before the Lunar New Year to show appreciation to their employees.

The results showed that while some sectors performed well, others were affected by the COVID-19 pandemic.

Photo: Reuters

For 10 consecutive years, financial companies have dominated the survey. Results from 2,086 companies surveyed between October 26 and October 31 showed that employees of banks, securities firms and insurance companies could expect bonuses equivalent to 1.84 months’ salary because the rise in stock markets around the world has supported companies. profits.

Finance companies were followed by semiconductor companies at 1.57 months and construction companies at 1.23 months.

Most hotels and restaurants, which have seen sluggish activity in the two years of the pandemic, have canceled year-end bonuses, although a minority said they continued with bonuses equivalent to 0, 5 months salary.

Next year, 39.3 percent of companies would increase wages by an average of 3.1 percent, or NT $ 1,302, which is a slower pace than the 4 percent wage increase for employees in the industry. public sector or a 5 percent increase in the minimum wage.

Software vendors, financial institutions and semiconductor companies are neck and neck with planned salary increases of 3.6%, according to the results.

This year, semiconductor companies would offer the highest average salaries at NT $ 921,000, followed by telecommunications at NT $ 839,000 and financial companies at NT $ 808,000.

The results also showed that 47.7 percent of companies intended to increase their workforce by 10 percent.

Semiconductor companies reported the most vacancies, followed by consumer electronics manufacturers and Internet software companies, according to the result.

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