Over 50 firms’ pay raises match or even top TSMC’s

Taipei--More than 50 firms listed on the local main board and the over-the-counter (OTC) market plan to give their employees a pay raise which matches or beats a hike given by contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, ???), statistics showed Saturday.

Last week, TSMC, the world's largest pure foundry operator, announced that it would raise salaries for its employees by 3-5 percent this year as it did last year, which will make the chip maker's staff enviable in the local market, where wages have become stagnant for years.

TSMC has been dubbed one of the "happy enterprises" by the market since the chip maker gives a pay raise every year as it remains profitable and even posted a new high in earnings.

In 2016, TSMC posted NT$334.25 billion (US$11.08 billion) in net profit, a record high in the company's history, with earnings per share at NT$12.89.

Following suit, more than 50 employers listed on the main board and the OTC market announced they will also raise salaries for their employees, and their pay hikes are expected to rival TSMC's and also make many workers here jealous, according to filings posted on the Taiwan Stock Exchange (TWSE).

Among the generous employers, integrated circuit packaging and testing services providers King Yuan Electronics Co. (???) and Powertech Technology Inc. (??), radio frequency integrated circuit supplier RichWave Technology Corp. (??) and Medigen Biotechnology Corp. (??) will raise salaries for their employees by 3-5 percent, the same level as TSMC's, the TWSE data showed.

But surpassing TSMC's generosity are gym equipment maker Keysheen (Cayman) Holdings Co. (??), which plans to raise salaries by 1-8 percent for its employees, while Taiwan Cement Corp. (??), the largest cement supplier in the country, and Internet and communications device maker Radiation Technology Inc. (??) have promised to boost wages by 2-7 percent this year, the statistics showed.

In addition, biotech firms Microbio Co. (????) and Oneness Biotech Co. (????) plan to raise wages by 2-10 percent this year, while Formosa International Hotels Corp. (????) is expected to hike pay for its employees by 3-6 percent, according to the data.

Catching market attention, cinema operator Wanhwa Enterprise Co. (??) even plans to raise salaries by as much as 3-15 percent this year, the TWSE data showed.

Apart from the 3-5 percent wage hike every year, TSMC gave a total of NT$44.84 billion in bonuses in cash and salaries to its employees last year, with each of its employees receiving about NT$1.07 million on average .

Source: Focus Taiwan News Channel