Foxconn offering university graduates starting pay of NT$45,000

Master's degree employees will receive NT$52,000, while doctorate degree workers are offered NT$60,000 per month

Foxconn Technology Group's Shenzhen plant. 

Foxconn Technology Group's Shenzhen plant.  (AP photo)

Taiwan-based manufacturing giant Foxconn Technology Group has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates.

For those with a master's degree, the starting pay will be NT$52,000 per month at the minimum, while doctorate degree holders will earn at least NT$60,000 a month, Foxconn announced in a statement issued earlier this week. The latest recruitment drive is aimed at attracting talent mainly in the core technology areas of artificial intelligence, semiconductors, and next generation mobile communications, and also in the emerging industries of electric cars, digital healthcare, and robotics, the company said.

In addition, the company said, it will offer comprehensive training in technology, management, and general knowledge to help its new employees build successful careers. For example, all employees hired in the latest round of recruitment will be trained to become mid-range management staff in the future, said Foxconn.

It urged interested persons to apply via its website and said interviews of selected applicants will also be conducted online. Foxconn, the world's largest contract electronics maker, has been working to expand into the development of software and to integrate that with its hardware manufacturing proficiency.

Meanwhile, with the global economy reeling under the impact of the coronavirus pandemic, two foreign brokerages have cut their target prices on shares of Foxconn, citing concerns over the company's shipments of iPhones, which it assembles. A Hong Kong-based securities house said the coronavirus pandemic could force Apple Inc. to postpone the launch of its new iPhones amid the economic uncertainty, which has slowed demand for tech gadgets.

If Apple does not release its next- generation of iPhones in September as it usually does, Foxconn shipments are likely to drop in the second half of the year, the brokerage said in recent research note. Therefore, the brokerage said, it was lowering its target price on Foxconn shares from NT$100 to NT$75 and downgrading its recommendation from "buy" to "hold."

Apple accounts for about 40 percent of Foxconn's total sales, to a market estimate. A Japanese brokerage also cut its target price on Foxconn from NT$92 to NT$82, but maintained its "overweight" rating of the stock, saying that despite the impact of the pandemic, it remained upbeat about the company's efforts to upgrade its technologies and extend its reach to emerging industries.

Nonetheless, the Japanese brokerage lowered its forecasts for Foxconn's earnings per share for 2020 and 2021 by 10.4 percent and 5.2 percent, respectively, to NT$7.78 and NT$9.7, citing the pandemic. On Wednesday, Foxconn's shares rose 0.14 percent to end at NT$70.50 on the Taiwan Stock Exchange before the market closed for the four-day Tomb Sweeping Festival.