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Average Salary in Taiwan

The average salary in Taiwan is 129,000 TWD or around $4,203 per month, as of December 2023. However, wages can vary widely depending on factors such as industry, location, education, and experience.

Taiwan has become a popular destination for individuals seeking international work experience, as well as global companies looking to hire employees. As part of the job search process, it is essential to understand the average salary in Taiwan to make informed decisions about relocating to this East Asian nation. 

A snapshot of Taiwan’s economy shows a diverse range of industries that contribute to the island’s overall GDP. Within these industries, there are stark contrasts in average salary levels, with some sectors offering more lucrative opportunities than others. Additionally, the labor market has its own set of unique characteristics that can impact salary trends, such as the demand for skilled professionals and prevailing economic conditions.

Given the varying factors affecting salary levels, it’s crucial to consider other aspects of compensation such as benefits, working hours and career growth potential before jumping onto the Taiwan labor market bandwagon. Remember, the average salary is just one piece of the puzzle when it comes to making informed career decisions.

Key Takeaways

  • The average salary in Taiwan is $4,203 per month, but varies greatly between industries and locations.
  • Taiwan’s diverse economy and unique labor market characteristics contribute to the wide range of wages.
  • Factors such as benefits, working hours and career growth potential are important considerations alongside average salary when planning a move to Taiwan.

A Snapshot of Taiwan's Economy

Taiwan’s economy, being among the top 25 economies in the world, is known for its resilience in the face of global market fluctuations. The nation is enlisted as an advanced economy by the International Monetary Fund (IMF), along with Hong Kong and Japan.

In the fourth quarter of 2022, Taiwan experienced a GDP contraction by 0.41%. Despite this, the country registered an overall GDP growth of 2.45% for the year 2022, albeit a significant slowdown from the 6.53% growth in 2021. The GDP growth for 2023 is projected to be 2.12%, reflecting a cautious outlook.

Taiwan’s export and investment momentum has been affected by weak global demand, particularly in the midst of economic uncertainties. However, the development of emerging technology applications is expected to boost the economy, along with government stimulus measures, which are aimed at stabilizing Taiwan’s financial landscape in the second half of 2023.

The nation’s merchandise trade balance significantly contributes to its economic well-being. Taiwan is heavily reliant on the value of goods imported and exported, which determine the trade surplus or deficit. As a result, monitoring the growth rate and changes in the trade balance helps stakeholders better strategize and navigate Taiwan’s economic landscape through market uncertainties.

Taiwan’s economy presents a mixed picture with its GDP growth fluctuating due to global demand conditions. Emerging technology applications and government policies play a vital role in stabilizing and fostering economic development while addressing challenges in trade and investment.

The Labor Market in Taiwan

Unemployment Rate

In Taiwan, the unemployment rate remains relatively stable, offering a favorable job market for both employers and employees. It’s important for job seekers to stay informed about the current unemployment rate, as it can provide valuable insight into the availability of opportunities and competition within specific industries.

Taiwan unemployment rate
Taiwan Unemployment Rate 2014 - 2023, CEIC

Labor Force

Taiwan boasts a skilled and diverse labor force, contributing to the country’s competitiveness on the global stage. Employees and employers alike can benefit from understanding the composition of the labor force, which helps identify potential skills gaps, areas of high demand, and opportunities for professional development.

Taiwan Labor Force
Taiwan Labor Force, Directorate-General of Budget, Accounting and Statistics, Executive Yuan, R.O.C (Taiwan)

Employment Statistics

A thorough analysis of employment statistics in Taiwan can elucidate trends within the labor market and guide both job seekers and employers in making informed decisions. This includes examining data such as average wages and the distribution of employment across various sectors. By staying updated on employment statistics, stakeholders can navigate the labor market with greater precision and adapt to changes more effectively.

Taiwan Employment Statistics

Industrial and Service Sectors

The industrial and service sectors form the backbone of Taiwan’s economy, providing numerous employment opportunities across a wide range of fields. The average monthly earnings for employees in the industrial and service sector in Taiwan were approximately 57,718 New Taiwan dollars in 2022. By understanding the distinct characteristics and employment trends within each sector, job seekers can identify growth areas and industries with promising potential for future employment.

A comprehensive understanding of Taiwan’s labor market, encompassing the unemployment rate, labor force, employment statistics, and performance of the industrial and service sectors, is crucial for navigating the ever-evolving world of work. By staying informed and adapting to changes, both employees and employers can seize opportunities and achieve success within Taiwan’s dynamic economy.

Average Salary by Age and Education

In this section, we will discuss the average salary in Taiwan with respect to age and education. Taiwan, being a growing economy, has varied income levels based on these factors.

Salary by Age

In Taiwan, an individual’s salary typically increases with age as they gain more experience and skills in their profession. The average salary in Taiwan is 129,000 TWD per month. However, the data shows that employees in their:

  • 20s earn an average salary of around 40% less than the median value
  • 30s earn an average salary of around 20% less than the median
  • 40s earn an average salary that is close to the median
  • 50s and above earn an average salary of around 40% more than the median

This illustrates that as employees mature in age, their average salary tends to increase.

Salary by Education

Education also plays a significant role in determining an individual’s salary in Taiwan. Here is a general overview of the average salary based on education levels:

Educational LevelAverage Salary (TWD per month)
High School110,000
Bachelor’s Degree128,000
Master’s Degree152,000
PhD181,000

From the table, it is evident that a higher level of education usually results in a higher salary. Employees with a Bachelor’s degree on average earn 16.4% more than those with only a high school diploma. Meanwhile, those with a Master’s degree earn 18.8% more than those with a Bachelor’s degree, and individuals with a PhD earn 19.1% more than those with a Master’s degree.

Both age and education play a crucial role in determining an individual’s average salary in Taiwan. As people gain experience and invest in higher education, their income tends to increase accordingly. This further reinforces the importance of professional growth and education in today’s competitive job market.

Average Salary by Industry

In Taiwan, the average salary varies across different industries, with the electronic and IT sectors playing a significant role in the country’s economy. This section will discuss the average salaries for two specific professions: Software Engineers and Engineers, to provide insights into the earnings associated with these roles.

Software Engineer Salary

Software Engineers in Taiwan are considered valuable assets, especially with the growth in the nation’s technology sector. As a result, their average salary is on the higher end of the spectrum. Generally, the average monthly salary for a software engineer in Taiwan is around 106,000 TWD, which equates to approximately 3,450 USD. Senior software engineers can expect even higher pay, with some earning upwards of 131,000 TWD per month. Factors affecting these salaries include experience, company size, and specific skill sets.

Engineer Salary

Engineers in Taiwan are employed across various industries such as electronics, construction, and manufacturing. Consequently, their salaries can differ significantly based on the sector they work in. On average, engineers in Taiwan typically earn around 65,000 TWD per month, equivalent to about 2,120 USD. It is important to note that salaries can vary for different types of engineers, such as civil, mechanical, or electrical engineers, depending on the demand for their expertise within their respective industries.

Average Salary by Location

Salary in Taipei

Taipei, the capital of Taiwan, boasts a higher average salary compared to the rest of the country. In 2023, professionals in Taipei earned an average monthly salary of NT$ 949,000, equivalent to approximately USD 30,985 annually. Although the cost of living in Taipei is higher, the increased wages typically offset the additional expenses associated with residing in a major city.

Salary in Other Cities

The average salary across Taiwan is NT$ 129,000 (New Taiwan Dollars) per month or around USD 4,203 per month. This value considers the income earned by professionals in various cities and industries throughout Taiwan. Notably, Taiwan’s average salary is significantly lower than that of the United States, where the average monthly salary reaches USD 7,900.

While the average salary in Taipei exceeds that of other major cities in Taiwan, professionals can still find competitive wages in alternative locations. For instance, Taipei’s median income stands at NT$ 882,000 (US$29,400) per year, which is slightly lower than the average figure. Nonetheless, employment opportunities and salary ranges depend heavily on the industry and job sector.

Salary and Compensation Details

In Taiwan, the average salary is approximately 129,000 TWD (New Taiwan Dollar), or around USD 4,203 per month. This amount takes into account base salary, compensation, and various benefits like housing and transport.

Salaries in Taiwan vary drastically between different careers, with the lowest average being 32,700 TWD per month and the highest average being 577,000 TWD. Total compensation consists of various components such as salary, housing, transport, and other benefits. It’s essential to understand that this amount represents the average compensation, and actual maximum salaries may be even higher for specific roles and industries.

According to SalaryExpert, popular job titles in Taiwan include Judge (NT$396,586 per year), Registered Nurse (NT$1,451,616 per year), Pharmacist (NT$2,171,921 per year), and Personal Trainer (NT$911,394 per year). It is evident that remuneration for each profession varies widely, and incentives like bonuses and commissions can further influence the final salary package.

In comparison to the United States, the average monthly earnings in Taiwan are lower. For example, the average monthly salary in the United States is USD 7,900, a significant difference. Despite this disparity, cost of living factors and specific economic conditions may affect the salary expectations in Taiwan.

While considering a career in Taiwan, potential employees should analyze base salary, total compensation, and other components, such as incentives, to make informed decisions. Industries and professions play a significant role in dictating salary expectations, and understanding these variations will enable individuals to navigate the job market in Taiwan effectively.

Comparison with Other Countries

Taiwan VS South Korea

Taiwan and South Korea are both known for their technological advancements and strong economies. However, when it comes to average salaries, they have some differences. In Taiwan, an individual earns an average salary of approximately 129,000 TWD (New Taiwan Dollar) or around USD 4,203 per month. In contrast, the average monthly salary in South Korea is around USD 3,000. This discrepancy may be partly attributed to the higher cost of living in South Korea.

Moreover, the main industries contributing to the economies in these countries impact the average salary figures. In Taiwan, the primary industries are electronics, chemicals, and services, while South Korea focuses on electronics, automotive, and shipbuilding industries.

Taiwan VS Japan

Another regional comparison involves Taiwan and Japan. The average salary in Japan is significantly higher than in Taiwan, with an average monthly income of around USD 5,000. One of the reasons for this difference is the well-established automobile, electronics, and manufacturing industries present in Japan.

Additionally, the cost of living in both countries plays a role in salary comparisons. Japan is known for its high cost of living, especially in cities such as Tokyo. Furthermore, the working culture in Japan, characterized by long hours and high expectations, might be a factor contributing to the higher average salaries.

When comparing the average salaries in Taiwan to those in South Korea and Japan, Taiwan falls in the middle, with Japan offering the highest salaries and South Korea offering slightly lower salaries. This is influenced by various factors, including the cost of living and dominant industries in each country.

The Role of Politics in Salary

In Taiwan, politics plays a crucial role in determining the average salaries of its citizens. The government, led by the Executive Yuan, is responsible for setting the national minimum wage, which greatly impacts the income levels of workers in various sectors. In recent years, the Taiwanese government has implemented several measures to increase the minimum wage gradually, resulting in an improvement in the overall wage structure.

Taiwan raising minimum wage
Raising Minimum Wage - Department of Information Services, Executive Yuan

One of the most significant steps taken by the government to increase wages is the periodic revision of the minimum hourly pay. For instance, the minimum hourly pay has been raised three times from NT$129 to NT$140, a 16.67 percent increase, positively affecting over 1.66 million workers according to The News Lens.

The Executive Yuan, the chief administrative organ of Taiwan’s government, is responsible for formulating and implementing policies related to economic development, social welfare, and labor rights. By focusing on these areas, the executive branch can play a vital role in increasing the average salary for Taiwanese workers.

For example, the government has been actively working on policies to create more job opportunities, promote career advancement, and enhance the overall skills of the workforce. The ultimate aim is to ensure better compensation packages and higher living standards for workers across different industries in Taiwan.

The average salary in Taiwan is lower compared to countries like the US or Australia, but the lower cost of living still allows for a relatively high standard of living. Factors such as career development, job market trends, acquiring new skills, and aligning skills with in-demand roles can influence salary growth in Taiwan along with politics, as explained by The Desired Desk.

The role of politics in Taiwan is significantly influential in determining the average salary in the country. The timely decisions and policies implemented by the Executive Yuan directly impact the wages and overall living standards of Taiwanese citizens.

Access to Salary Data

When researching the average salary in Taiwan, it’s essential to access reliable data from reputable sources. One such source is Statista, a platform offering premium statistical information on various topics. To access detailed salary data on Statista, an account is required, and subscription plans may be in place for specific types of data.

Other sources such as Salary Explorer and SalaryExpert can also provide insights into the average salaries in Taiwan. These platforms aggregate data on salaries across different careers, industries, and locations, offering useful context when examining average wages.

Accessing accurate salary data for Taiwan is possible through various online platforms and resources. They allow users to analyze and understand the average salary trends in the country and make informed decisions for both personal and professional purposes. Ensuring the data is obtained from reputable sources is crucial for the accuracy and reliability of the information being used.

Conclusion

In summary, the average salary in Taiwan for 2023 is approximately 129,000 TWD or around 4,203 USD per month. Taiwan’s thriving economy, driven by its technology sector, has led to increased wages for skilled professionals such as engineers, researchers, and technicians. While the average salary in Taiwan may be lower than some countries like the United States, the nation’s export-oriented industries and highly skilled workforce enable the country to continue growing and offering competitive salaries and benefits.

To recap, Taiwan’s average salary figures reveal the overall strength and progress of its economy, making it an attractive hub for technology professionals and fostering international interest from businesses and individuals alike. The high levels of local talent, paired with technological advantages it offers, position Taiwan as a competitive player in the global economic landscape.

Overall, understanding the average salary in Taiwan provides valuable insight for individuals considering work or relocation to this dynamic, technology-focused nation. By maintaining awareness of the country’s economic indicators and salary trends, professionals can make informed decisions about their careers and financial goals.

Global companies seeking more tailored advice on the average salary in certain industries should consider consulting a Taiwan employment outsourcing company or Taiwan Employer of Record (EOR), who will be able to advise them on these matters. 

Taiwan Business Guides

Frequently Asked Questions

Fresh graduates in Taiwan can expect to earn an average monthly salary of around NT$19,000 (about US $640) for foreign nationals. Factors such as the graduate's field of study and industry can impact their starting salary. Some entry-level professions in Taiwan may offer higher starting salaries, whereas others may fetch lower wages.

Factory workers in Taiwan typically earn lower salaries compared to white-collar workers. The average salary for foreign blue-collar workers is about 20,000 NT per month or less. It's essential to note that wages can depend on factors such as experience, location, and company size.

The minimum salary in Taiwan is subject to fluctuations and may vary across different professions. For instance, the starting salary for a foreign white-collar worker is about 48,000 NT per month, whereas the average salary for English teachers is between 60,000 and 80,000 NT per month. Some industries or job roles may offer salaries well above the national average.

Wage growth in Taiwan has been relatively slow in recent years compared to its neighboring countries. However, this can vary by industry and sector. It's crucial for potential job seekers and employers to keep track of economic developments and trends to stay informed about prevailing salary standards in Taiwan.

While specific salary information for the IT sector may not be readily available, Taiwan's IT industry generally offers competitive salaries compared to other fields. As with other industries, compensation in the IT sector may depend on factors such as experience, skill set, job role, and company size.

What is considered a good salary in Taiwan depends on multiple factors such as job role, industry, location, and personal expenses. Residents in Taiwan typically earn an average salary of 129,000 TWD (New Taiwan Dollar) per month (around USD 4,203). Comparing this figure to one's living expenses can give individuals an idea of what constitutes a good salary for their particular circumstances.

Milly is an international lawyer and tech entrepreneur who has advised companies on expanding globally for over 5 years. She is an advocate of remote hiring and regularly consults on future of work matters. Milly founded RemotePad to help employers learn more about building and growing international teams.

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