Taipei: Median annual pay for full-time employees in Taiwan rose to NT$546,000 (US$17,376) in 2024, marking an increase of 4.03 percent from the previous year and representing the fastest growth in 12 years, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS).
According to Focus Taiwan, the significant rise was largely attributed to a relatively low base year in 2023, when technology companies were dealing with inventory issues. The demand for artificial intelligence devices and high-performance computing applications also bolstered corporate earnings, leading to higher bonuses. Upward adjustments to the minimum wage further contributed to the increase in average salaries, as stated by Tan Wen-ling, deputy director of the DGBAS Census Department.
Historically, the annual growth rate of the median salary has ranged from 0 percent to 2.5 percent, making the current year's increase particularly notable. The median salary indicates the midpoint in earnings distribution, with half of the employees earning more and half earning less.
In terms of sectors, the financial and insurance industries reported the highest median annual pay at NT$1.106 million. The electricity and gas supply sector followed closely at NT$1.091 million, with publishing, audiovisual, information, and communications services at NT$807,000.
Gender disparities in median annual pay were also observed. Women earned a median of NT$512,000, while their male counterparts earned NT$585,000. Regarding salary distribution, the bottom 10 percent of employees, largely consisting of migrant and part-time workers, earned less than NT$330,000 annually, according to the DGBAS.
The agency also provided data on full-time employees based on workplace location. Hsinchu City topped the list with a median annual salary of NT$902,000, followed by Hsinchu County at NT$736,000, Taipei at NT$735,000, and Taoyuan at NT$616,000. The DGBAS noted that regional salary levels are influenced by local industries, with areas having higher concentrations of high-paying sectors such as finance, insurance, semiconductor manufacturing, information and communications technology, and healthcare exhibiting higher median salaries.