President Securities Corp (統一證券) led all listed companies in the financial services sector in average employee salary last year at NT$2.099 million (US$70,079), a 26.8 percent year-on-year increase, data released by the Taiwan Stock Exchange showed on Monday.
Shares in Taiwan surged 28.4 percent last year on record-high average daily turnover of NT$412.4 billion, leading to combined brokerage business profits of NT$96.109 billion, up 61.99 percent from 2023.
The sharp jump in profits led to a boost in salaries for employees across securities companies and the securities-driven financial holding company sector.
Photo: Chien Jung-fong, Taipei Times
Yuanta Financial Holding Co (元大金控), with Yuanta Securities Co (元大證券) as its primary securities firm, came in second at NT$2.022 million, up 20.1 percent year-on-year, while Central Reinsurance Corp (中央再保) came in third at NT$1.896 million, up 11.3 percent from the previous year, the data showed.
Yuanta Financial’s earnings per share of NT$2.77 last year ranked fourth among Taiwan’s 14 listed financial holding companies, behind Fubon Financial Holding Co (富邦金控) at NT$10.77, Cathay Financial Holding Co (國泰金控) at NT$7.29 and CTBC Financial Holding Co (中信金控) at NT$3.64.
In terms of average employee salary for the 14 listed financial holding companies, Yuanta Financial ranked first at NT$2.022 million, followed by CTBC Financial at NT$1.876 million, up 4.4 percent year-on-year.
Fubon Financial was the most profitable financial holding company last year, but its average employee salary was only NT$1.347 million, just ahead of Cathay Financial at NT$1.313 million.
Among listed financial holding companies with state-owned banks, Mega Financial Holding Co (兆豐金控) led with an average salary of NT$1.759 million, ranking third among all financial holding companies, and seventh across all listed financial and insurance firms.
King’s Town Bank (京城銀行) had the lowest average salary in the sector at NT$990,000, down 11.4 percent year-on-year, making it the only bank in the group with an average salary under NT$1 million.
Union Bank of Taiwan (聯邦銀行) followed at NT$1.035 million, and Taiwan Fire & Marine Insurance Co (台灣產物保險) came in third from the bottom at NT$1.076 million, the data showed.
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