Yuanta Financial Holding Co (元大金控), CTBC Financial Holding Co (中信金控) and IBF Financial Holdings Co (國票金控) topped their local financial conglomerate peers in terms of employees’ paychecks last year, data released by the firms showed yesterday.
Yuanta Financial reported an annual rise of 25.6 percent in the average employee paycheck to NT$2.04 million (US$69,416) last year, making it Taiwan’s only financial conglomerate with an average wage of more than NT$2 million, the firm’s data showed.
CTBC Financial was second, paying its employees NT$1.9 million on average, up 21 percent from a year earlier, company data showed.
Photo: Chang Hui-wen, Taipei Times
IBF Financial ranked third with an average of NT$1.84 million, up 21 percent, its data showed.
Finance sector employees’ wages were NT$1.3 million on average, up 9.24 percent from a year earlier, on the back of their employers’ average earnings per share (EPS) of NT$2.79 last year, compared with NT$1.92 in 2020.
In terms of employee compensation, which includes wages and benefits, Yuanta Financial and CTBC Financial topped the ranking, with averages of NT$2.31 million and NT$2.1 million respectively, while state-run Mega Financial Holding Co (兆豐金控) beat IBF Financial with an average of NT$2.09 million.
Cathay Financial Holding Co (國泰金控) and Fubon Financial Holding Co (富邦金控), the nation’s largest financial companies in terms of assets and profits respectively, reported the lowest average compensation among their peers.
Cathay Financial employees’ average paycheck edged up 0.8 percent to NT$1.01 million, with an average compensation of NT$1.16 million, while wages at Fubon Financial grew 8.4 percent to NT$1.03 million on average, with an average compensation of NT$1.22 million, data released by the companies showed.
The two firms have 57,568 and 44,993 employees respectively, compared with Yuanta Financial’s 14,390 employees, CTBC Financial’s 21,087 employees and IBF Financial’s 1,530 employees.
Cathay Financial’s EPS were NT$10.34 last year, while Fubon Financial posted EPS of NT$12.49, much higher than the industry average of NT$2.79.
President Securities Corp (統一證券), China Bills Finance Corp (中華票券) and Central Reinsurance Corp (中央再保) topped the ranking of independent financial firms.
President Securities paid its employees on average NT$2.16 million, 28.6 percent more than in 2020 and NT$790,000 more than the average paycheck at its listed peer Capital Securities Corp (群益證券).
China Bills paid NT$1.88 million, up 7.4 percent year-on-year, and Central Reinsurance paid NT$1.83 million, up 21 percent from 2020.
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