TSMC Announces 3 to 5 Percent Pay Raise for All Employees

On Thursday, Taiwan Semiconductor Manufacturing Company (TSMC) announced that its employees will be receiving a three to five percent pay raise for the fifth consecutive year.

The salary of an entry-level employee with a master’s diploma will be NT$48,130. It increased from NT$46,600 in 2019. The beginning salary of college diploma holders will be NT$32,530 which increased by NT$30 last year. Non-college graduate workers will be given a salary of NT$30,050 every month.

Despite the economic constraints brought by the COVID-19 pandemic, the pay increase was still implemented. The world’s biggest semiconductor foundry is expected to be seen with a 14 to 19 percent revenue growth. The growth is forecasted to be affected by the increasing demand for 5G-related products and high-quality computing devices.

According to the forecast made last week by the Taiwan Institute of Economic Research (TIER), it is expected that the country will have a 1.58 percent GDP growth in 2020. It is 1.09 lower than last year. Despite the predictions of a global sales decline in semiconductor equipment, TSMC had shown incredible performance in the market where it had maintained $15 billion to $16 billion capital expenditure in 2020.

Every year, TSMC hires more or less 2,000 new staff. 70 percent of them are younger than 30. All of the employees of the company are entitled to a year-end bonus which equates to an amount equal to two months of their salaries. This means that an engineer with a master’s diploma is being paid, on average, more than NT$1 million every year.

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