TAIPEI (TVBS News) — Taiwan's Ministry of Labor (MOL) and the Directorate General of Budget, Accounting, and Statistics (DGBAS) announced that the average starting salary for new graduates in 2023 is NT＄34,000.
In June, the average monthly wage across the nation was NT＄48,032. The manufacturing sector reported an average salary of NT＄43,103. This figure rose to NT$57,045 when overtime pay was included.
Given Taiwan's low salary rates, many are exploring side hustles or looking for overseas opportunities to supplement their income amidst increasing living and housing costs.
Under the influence of the New Southbound Policy and changes in supply chains, job seekers are increasingly looking towards Southeast Asia instead of China for overseas roles, with Vietnam emerging as a favored destination.
Fang Shan-yuan, a Taiwanese expatriate in Vietnam, shed light on the benefits of working abroad. "The starting salary for fresh graduates is slightly higher here. Typically, meals and accommodation are provided as most employees live within the factory premises. This arrangement allows for savings of about NT＄10,000 monthly," he noted.
Huang Kai-yuan, a public relations manager at a job bank, pointed out that working internationally doesn't just offer global exposure but also hones language skills. Citing a recent survey, he shared, "Over 40% of young graduates are open to global assignments, which is a substantial figure."
However, experts emphasize the need for foreign expatriates to have at least basic English proficiency. Mastery of local languages is even more advantageous, especially in Southeast Asian nations.
For those considering overseas roles, it's crucial to assess their adaptability to the local work culture, the company's location, and the long-term prospects of the position.
Hsin Ping-lung, an associate professor at the National Taiwan University's Graduate Institute of National Development, commented on potential challenges. "In many instances, subpar work performance might see employees placed in less favorable locations or transitioned into local hires," he remarked.
Delving into the complexities of expat packages, he added, "If Taiwanese businesses hire locally overseas, they might not extend expatriate benefits."
While countries experiencing rapid economic growth can offer attractive salaries, Hsin advised against fixating solely on immediate compensation. Instead, he encouraged a broader perspective that also considers long-term career growth.