TSMC's big salary increase
On March 12, it was reported that TSMC, a major wafer foundry, will conduct routine salary adjustments every April, and it is rumored that this year there will be a huge salary increase of 8%!
Competition in the technology industry's labor market is fierce. Semiconductor manufacturers have been implementing structural salary increases or expanding the range of salary increases in recent years to cope with the situation. For example, semiconductor equipment manufacturer ASML launched a wave of salary increases in July last year and increased salaries again at the beginning of this year. It is estimated that the salary increase within half a year has been as high as 15% to 19% since July last year.
TSMC will significantly increase fixed salaries by 20% in 2021. Today, it was reported that TSMC will increase salaries by another 8% in April this year, which is higher than the 3% to 5% level in previous years. TSMC stated that it will routinely increase salaries in April every year, but the salary increase figures have not yet been made public.
TSMC recently announced that in response to business growth and technology development needs, it plans to recruit more than 8,000 new employees in 2022. There is a demand for talent in Taoyuan, Hsinchu, Taichung, Tainan and Kaohsiung. TSMC has promised to provide competitive salary and benefits. The average overall annual salary of new engineers with a master's degree is expected to be up to NT$2 million.
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