Sat, Jan 12, 2019 - Page 12 News List

Average take-home pay climbs 2.56%, highest in 19 years

BIG PAYERS:Companies involved in electricity and gas supply offered the highest pay, with total compensation averaging NT$99,697 in November

By Crystal Hsu  /  Staff reporter

Average monthly take-home pay gained 2.56 percent year-on-year to NT$41,249 (US$1,339) in November last year, as most firms raised their salaries amid a stable economy, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said on Thursday.

The figure was the highest in 19 years for November, as GDP growth expanded 2.89 percent in the first three quarters of last year.

Listed firms reported a 7.33 percent increase in revenue last year on the back of an improved business environment, DGBAS Deputy Director Pan Ning-hsin (潘寧馨) said.

However, many are forecasting a slowdown this year on concerns that the US-China trade dispute would soften demand for technology products, according to various business sentiment surveys.

Total compensation — including performance-based bonuses and overtime pay — averaged NT$46,542 per month last year, an increase of 3.12 percent from a year earlier, the DGBAS said in a report.

Non-regular compensation has advanced at a faster pace than take-home pay as companies prefer to issue bonuses depending on their earnings and employees’ contributions, Pan said.

Firms involved in electricity and gas supply offered the highest pay, with total compensation averaging NT$99,697 a month, followed by electronics manufacturers at NT$71,433, the report said.

Performance-based bonuses and overtime pay helped push up wages at those companies, it said.

Financial services companies ranked third with average monthly compensation of NT$63,932 and the health sector came next at NT$61,506, it said.

The economic pickup also allowed firms to raise staffing levels, with the number of workers rising 1.21 percent to 7.71 million, the report said.

Average overtime in November was 7.9 hours, down 0.1 hour from the same month a year earlier, due to technological advances, it said.

For the first 11 months of last year, monthly take-home pay and total compensation gained 2.61 percent and 3.97 percent to NT$40,939 and NT$52,059 respectively, the DGBAS said, adding that the latter figure was the highest ever recorded.

The gap between take-home pay and total compensation exceeded NT$10,000 during the period and is likely to grow wider this month and next month when most local companies pay their year-end bonuses, Pan said.

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