Survey shows local office workers feeling the pinch

This article was published by the Taiwan Headlines on May 4, 2006. it reports that according to a recent survey conducted by the Cheers magazine, most office workers have felt the pinch of a shrinking salary when compared to their counterparts in neighboring countries.

Specifically, compared to white-collar workers in Hong Kong, Japan and South Korea who have received noticeably salary hikes in recent years, some 90 percent of Taiwan's office workers said in the survey that they had seen their salaries shrink in real terms due to a continuous rise in consumer prices.

Although Taiwan's economy expanded by 5.7 percent in 2004, about 88 percent of local companies did not increase their salaries in that year. Meanwhile, although salaries increased by an average of 1.3 percent in 2005, people's wallets had actually become lighter after a 2.3-percent growth in consumer prices. According to the magazine, decreasing salaries have become the biggest headache for office workers in Taiwan.

Statistics provide by the Council of Labor Affairs show that the starting salary of college graduates in 2005 averaged NT$26,000 per month, which was less than what was offered five years ago. Specifically, information technology and science-related university graduates received a better starting salary, which was up to NT$30,000 per month. However, those working in the tourism businesses, hotels and restaurants received less than NT$20,000 per month in 2005.

According to the magazine, South Korean university graduates receive an average monthly salary of about NT$62,000. In recent years, white-collar workers in South Korea have had an average salary hike of 5 percent. Meanwhile, in Japan, the monthly starting income for college graduates was about NT$55,000 in 2005. That figure for Hong Kong's graduates was nearly NT$43,000 in 2005, up from NT$38,000 in 2003.