Average Salaries in Taiwan: From Entry-Level to Expert

Taiwan is enjoying a steadily growing economy, and the small island nation is perpetually voted one of the best countries for expats. It’s an excellent place to live and work for nationals and foreigners, owing to factors like safety, infrastructure, low cost of living, climate, and progressive politics. The flourishing Taiwanese market is creating jobs, and the average salary in Taiwan is enough to attract local and foreign professionals alike.
In this article, we'll explore the country's working prospects, and examine the average monthly salary in Taiwan in more detail.

Taiwan’s economy has been growing steadily, and a few key industries are driving that progress. Some of the most popular occupations are in technology and electronics, and some of the highest average salaries in Taiwan are in these industries. Taiwan is also a key leader in manufacturing, as well as metal and its products. Nasdaq’s overview of the Taiwanese economy emphasizes a country that worked hard to elevate itself from post-war poverty and is now a global leader in business, tech, and manufacturing. 

The average salary in Taiwan is affected by a few factors. Higher salaries are associated with higher education and skill level, as well as a worker’s experience and seniority. Location is also key, as people working in the largest municipalities in Taiwan earn the most. Despite Taiwan’s growth, there is still a significant gender pay gap that impacts women’s earnings. In the following sections, we’ll explore how all these factors influence average salaries in Taiwan.

There is an abundance of information available online for average salaries in Taiwan. If you’re wondering what the average salary is in Taiwan, there is no easy answer. Income averages vary greatly by industry. According to Contact Taiwan, the highest average salary per month in Taiwan is 204,000 NT, in ocean transport. Electronics and information services both are industries with relatively high incomes, around 90,000 NT. Some of the lowest average salaries in Taiwan are in education, arts, and food service: around 30,000 NT per month. 

Average salaries in Taiwan also vary by region, and the major metropolitan areas attract higher earnings. Salary Explorer indicates that the average income in Taipei is 130,000 NT per month, while the average in Kaohsiung, a large industrial centre, is 146,000 NT.

Based on information from Salary Explorer, the monthly median salary in Taiwan is 115,000 NT. This means that half the workers in Taiwan make less than the median, while the other half make more.

What is Taiwan’s minimum wage? Although average salaries are relatively high, the minimum wage in Taiwan is another story. According to the Wage Indicator, the minimum wage in Taiwan is 26,400 NT per month.

Education and Skill Levels

Average salaries in Taiwan, like many places, depend heavily on a worker’s education and skills. Thanks to the expansion of higher education in Taiwan over the last few decades, employees with undergraduate degrees are common, and wages higher. Unfortunately, this also leads to degree inflation. As the number of college graduates increases, more and more employees opt to pursue masters’ degrees to access better wages in a diluted market. 

Some industries, like healthcare, technology, and advanced agriculture, require specific vocational training, and people in those industries may enjoy a higher average monthly salary in Taiwan due to their skills and training.

Workers with specialized skills set themselves apart from others in their industries, which improves their earning potential. A relevant certification can even increase income by 5 to 20% and this is also true for average salaries in Taiwan.

The earning potential associated with certification highlights how important it is to continue your education no matter how advanced you are in your career. Industries change continuously, and upskilling is a crucial part of maintaining a competitive edge.

Industry and Job Sector

• Tech and Electronics:

A major part of Taiwan’s economy is its technology sector, and training in tech will offer a competitive advantage when it comes to the average salary in Taiwan. Employees of companies like Taiwan Semiconductor Manufacturing Company (TSMC) enjoy higher wages than the national median, and they’re ever-expanding. According to Taiwan News, TSMC paid nearly 30% more in annual salaries between 2021 and 2022, motivating people in other sectors to leave their jobs for a better salary at TSMC.

• Manufacturing and Export:

As manufacturing is such an important part of Taiwan’s economy, salaries in this industry are above the median. The average monthly salary in Taiwan for manufacturing is 88,000 NT, although income depends largely on skill and position, and the range is wide. 

Unfortunately, Taiwan has historically struggled to establish free trade agreements, but this hasn’t stopped this small country from being a key player in global manufacturing. Although the global economy has suffered in the last few decades, Taiwan still ranks 17th in the world for its share of exports. 

• Service and Hospitality:

The service industry has struggled to recover post-covid, and the average salary in Taiwan for hospitality workers is not as high as in other industries. According to Pay Lab, the income range for hospitality workers is between 23,000 NT to 55,000 NT monthly, with workers in management roles making the most.

Although Taiwan’s tourism hasn’t reached pre-pandemic levels, it’s nonetheless a popular destination and there is plenty of future growth potential. What’s more, many Taiwanese workers speak multiple languages, including English and Mandarin, setting them apart globally as a great destination for travelers.

• Finance and Banking:

Banking employees have a high average salary in Taiwan, at 141,000 NT monthly, although the range is wide. Accounting and finance has a similar range, with an average salary in Taiwan of 134,000 NT. 

The average salary in Taiwan in finance or banking is also influenced by global financial markets. Market trends, the currency exchange rates, and change in the demand for Taiwanese exports are all factors that influence compensation. 

Experience and Seniority

• Entry-Level Positions:

The average salary in Taiwan for entry-level positions varies widely and depends on the industry. An entry-level computer scientist might expect an income of 120,000 NT per month, but unfortunately, the average salary for fresh graduates in Taiwan is a mere 28,000 NT per month, according to the Taipei Times. 

Advanced education as well as specific skill certifications can increase salary, but one of the biggest contributors to salary growth is experience.

• Mid-Career Professionals:

According to Salary Explorer, 2 to 5 years of experience is associated with a 32% salary increase over entry-level positions. Workers who are more established in their field have more bargaining power and will enjoy higher wages than the salary of a fresh graduate in Taiwan. 

There is no guarantee of a higher average salary in Taiwan by age alone – it takes more than years to increase your income. For higher wages, it is important to have specific skills experience as well as a proven track record of your ability and contributions. 

• Senior Management and Leadership Roles:

Management roles have some of the highest average salaries in Taiwan. According to Salary Expert, for a general manager the average monthly salary in Taiwan is close to 400,000 NT, with senior managers making nearly double that.   

Any experience in a leadership role is an advantage to salary negotiations. Your previous position in management is an indication of your ability to be independent, to make decisions, and to manage teams effectively. 

Gender Pay Gap:

The gender pay gap has long been influencing average salaries in Taiwan. In 2022, Taiwanese women earned an average of 84% of a man’s salary. 

Like women in most countries, Taiwanese women experience workplace discrimination that can in part be explained by the expectation that they will start or expand their family. 

There are many corporate initiatives, like recruitment targets and employee resource groups, that help to reduce gender inequality at work. Having a transparent pay structure is crucial to increase corporate accountability and improve outcomes for women. 

What has the Taiwanese government done?

In addition to the Gender Equality Employment Law enacted by the government, the Ministry of Labor has established “Equal Pay Day’ to shed light on the continuing gendered inequality. These initiatives are helping to slowly close the gap in average salaries in Taiwan over the last decade. 

Demand for Specialized Skills

• Emerging Technologies:

New developments in the tech industry, like AI, cybersecurity, and blockchain, are fueling high demand for special skills and higher average salaries in Taiwan. The salary for an artificial intelligence specialist is roughly 6 times the minimum wage in Taiwan per month. 

• Language Proficiency:

Thanks to Taiwan’s place in the global market, there is high demand for workers in Taiwan with diverse language skills. Business and technology industries have a need for English speakers, while local engineers and management in Taiwan largely work in Mandarin. Employees with proficiency in multiple languages have an advantage when it comes to earning a higher average monthly salary in Taiwan.

• Industry-Specific Skills:

Many industries require specific skills, and the expertise you have in your niche will increase your earning potential.

Getting a certification is one way to boost your salary. Certifications in IT, accounting, project management, and even social media can help you meet a specific demand in your industry and give you access to higher average salaries in Taiwan.

While average salaries vary and the national minimum wage in Taiwan is quite low compared to other countries in the East, it’s important to remember that the cost of living in Taiwan is relatively low and stable.

Housing costs in Taiwan are one exception to the low cost of living on the island, although this is highly dependent on location. According to the New Lens, U.N. standards consider housing in Taipei unaffordable, while mortgage burdens in neighboring cities are more reasonable and below 30% of income.  Public transportation in Taiwan is efficient, and a monthly pass is budget-friendly.

Taiwan has one of the best healthcare systems globally in terms of speed, efficiency, and cost. Taiwan is also one of the most affordable places for a university degree, and the cost of primary and secondary school is low and subsidized.  

Cost of living in major cities in Asia compared to NYC

To successfully negotiate salary in Taiwan, it’s important to do industry research so that you come prepared. Look for information on average salaries in your position, research in-demand skills, and try to identify trends. This is also true for employers who may find negotiation difficult. Looking at trends and average salaries in Taiwan can give you the advantage of being factually prepared. 

When negotiating, it’s important to do company research and think about factors like the industry you work in, how competitive it is, the company size, and its reputation.

When it comes to maximizing your salary, networking is a great way to open yourself up to better opportunities, a different career path, and increased income.

When negotiating your salary in Taiwan, you can prepare by learning to communicate effectively. Always keep in mind the unique value that you bring to a role or an organization, and be prepared to walk away from an offer that you’re not satisfied with.

The economy in Taiwan is steadily growing, and average salaries are increasing with it. Although the minimum wage in Taiwan is low, salaries vary based on education, industry, experience, skills, and gender. This range in salary is balanced by a stable and relatively low cost of living. The best thing you can do to reach a higher average salary in Taiwan is to pursue professional development and research the certifications available to you. Don’t forget to check out CakeResume for more tips on how to successfully negotiate a higher salary.

— Originally Written by Tiffany Quinn —