Taiwanese receive NT$70,513 year-end bonus for 2020, highest ever

Taipei-Employees in Taiwan received an average year-end bonus of NT$70,513 (US$ 2,453) for 2020, the highest ever despite the economic impact of the COVID-19 pandemic, the nation's statistics bureau reported Tuesday.

NT$70,513 is equal to 1.64 months of average monthly salary, according to the Directorate General of Budget, Accounting and Statistics (DGBAS).

Foe 2019, employees received an average of 1.65 month's salary as their year-end bonus, which equaled to NT$69,577, it added.

However, the 1.64 month's salary year-end bonus for 2020 is also the lowest in four years.

The 2020 average year-end bonus was calculated based on a combination of all non-regular wages such as bonuses employees received from December 2020 to February 2021, according to the DGBAS.

In Taiwan, enterprises tend to issue year-end bonuses before the Lunar New Year holiday as an incentive to employees.

This year the Lunar New Year holiday fell in mid-February, marking the beginning of the Year of the Ox.

Chen Hui-hsin (???), deputy director of the DGBAS census department, told reporters that the coronavirus remained a major headache for some industries in Taiwan, while other sectors have recovered.

The three sectors with the highest year-end bonuses in 2020 are: finance and insurance (3.92 months); real estate businesses (2.39 months) and manufacturing (1.82 months).

The sectors with the lowest year-end bonuses included the hotel and food/beverage industry (0.49 month) and arts, entertainment and recreation (0.46 month), which have been hardest-hit by the pandemic, Chen said.

According to Chen, due to a rise in housing property transactions in the second half of last year, real estate businesses in Taiwan issued a significantly higher year-end bonus for 2020 (2.39 months) than for 2019 (1.84 months).

The number is also the highest since 2009.

Meanwhile, data compiled by the DGBAS showed the number of employees in the country at the end of February rose by 18,000 to 8.15 million, from the same period in 2020.

The average monthly regular wage in January and February stood at NT$42,976, up 1.77 percent from a year earlier, it added.

Source: Focus Taiwan News Channel