Taiwan's Salary Growth in 2024 Surpasses Inflation, but Public Feels Little Impact

Taiwan continues to face a persistent low salary issue. According to the Directorate-General of Budget, Accounting and Statistics, the 2024 full-year salary survey reveals that real total salaries have surpassed 60,000 NT dollars for the first time, with the increase in regular salaries being the highest in 25 years and both increases exceeding the inflation rate for 2024. However, the public seems to feel little impact from this growth, indicating that the actual salary situation in Taiwan still requires improvement.
The survey shows that the average monthly total salary for 2024 is 60,984 NT dollars, reflecting a 4.39% year-on-year increase, while the average regular salary is 46,450 NT dollars with a 2.77% increase. Yet, many workers express that their actual earnings do not align with these figures, as extreme values affect the average, making the median salary more representative. The median regular salary for 2024 is set at 37,274 NT dollars, with nearly 70% of workers earning below this threshold.
As concerns grow regarding low salaries, workers from various sectors have taken to the streets to protest against the slow growth of wages. Experts suggest that changing Taiwan's industrial structure is a fundamental method to tackle low salary issues, noting that the rise in entrepreneurship reflects young people's desire to boost their incomes.