TAIPEI (Taiwan News) – Nearly 90 percent of workers in Taiwan are unsatisfied with their paycheck and on average, members of the workforce will not receive a pay raise until they work 3.1 years on the job, according to a survey by yes123 job bank.
The research indicated an 88.9 percent dissatisfaction rate over the current salary of laborers, the highest in six years. The figure represents an upward trend of discontent over monthly pay in Taiwan over the years, which rose from 75.7 percent in 2014 to 85.4 percent in 2018, reported Business Today.
The findings also revealed a growing concern over wage stagnation, with respondents reporting the longest time span – 3.1 years -- before they can get a pay raise. Approximately 80 percent said their salaries have not been adjusted for more than a year, and respondents reported a maximum tolerable period for Taiwan’s workers as 1.9 years on average.
As to the extent of a pay raise that workers would find satisfactory, 34.7 percent said they wish for an increase of NT$5,000, 20.7 percent hoped for at least NT$3,000, and 12.3 percent believed a raise of NT$10,000 is reasonable. The average amount for an anticipated pay raise was NT$5,104 per month, wrote the report.
Rather than waiting for a raise, 56.8 percent of respondents reckoned that job hopping is the quickest way to receive a higher payment. Among respondents, 38.9 percent would choose moonlighting to increase income, while 34.6 percent and 34.4 percent would supplement income by acquiring professional certification, or making investments, respectively.
The poll, which saw 1,064 participants, was conducted between Jan. 24 and Feb. 11 with a 95 percent confidence level and a 3 percent margin of error.