Graduates' average salary stands at NT$25,175 in '13
The China Post news staff
May 31, 2014, 12:00 am TWN
TAIPEI, Taiwan -- The Ministry of Labor (MOL) yesterday released a survey on starting salaries in various industries, indicating that the average starting salary for graduates fresh out of school stood at NT$25,175 last year, a NT$139 increase from the 2012 average.
The survey indicates that the average starting salary in the financial industry was the highest among all sectors in 2013, coming in at NT$29,768, followed by the electricity and gas supply industry, which recorded an average of NT$28,982 last year.
Of the different sectors, starting salaries in the service industry came in relatively low, with figures ranging from NT$22,000 to NT$23,000.
In the financial industry, starting salaries for people with master's degrees stood at NT$35,046, whereas starting salaries for people with the same level of education in the electricity and gas supply industry stood slightly higher at MT$35,055.
Official data shows that the average salary on a nationwide basis stood at NT$37,771 last year, representing a NT$334 increase from 2012, while the average salary in Taiwan Power Company (Taipower) came in at a whopping NT$66,740, topping salaries offered by other companies across several industries. Taipower's high average salary was followed by the financial industry and the information and communications technology industry in the same year.
Meanwhile, sectors such as the educational services industry and the food and beverage industry came in at the bottom.
Most of the lowest salaries were concentrated in the service industry, with the lowest being cram schools, including those that teach languages and arts, with NT$21,979. The second lowest was the hospitality, food and beverage industry, which recorded an average of NT$27,345. The sector comprising businesses such as car washes, dry cleaners and funeral parlors, on the other hand, recorded NT$29,046.
The MOL said that in addition to differences in average salaries across different sectors, substantial differences also existed between low-level employees and executives within the same sector. For example, people in a managerial position can earn up to NT$62,000 a month, which is 1.66 times the average salary. Low-level employees, on the other hand, earn NT$24,000, which is 0.64 times the average salary.
According to the ministry, an employee's salary is on the whole dependent on his or her professional skills.