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Workers anticipate year-end bonuses as Lunar New Year nears

Reporter Jamie Lin Pinzon
Release time:2024/02/02 17:00
Last update time:2024/02/02 18:21
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TAIPEI (TVBS News) — As the Lunar New Year approaches, Taiwanese employees are looking forward to their year-end bonuses, a key indicator of corporate success and economic health. 

A local job bank survey reveals that 99.6% of companies in Taiwan are set to distribute bonuses this year. 

 

Despite the highest overall annual salaries in eight years, with a 2.5% increase from 2022, the average bonus has declined by 0.25 months, reaching a decade low at 1.08 times the monthly base salary, according to 104 Job Bank.

A study by CTBC Bank indicates diverse plans for the bonuses. Thirty-eight percent of recipients plan to allocate a portion to financial planning, while 24% will use their entire bonus for this purpose. Investment and asset growth are the primary financial goals for over 70% of respondents, followed by retirement planning and travel.

Bonus distribution varies across industries, 104 Job Bank's survey shows. The financial sector leads with an average of 1.83 months' salary, the semiconductor industry follows at 1.38 months, and construction at 1.23 months. In contrast, the medical services and accommodation and catering sectors expect lower bonuses, at 0.97 and 0.59 months, respectively.
 

Year-end bonuses serve not only as a reward for the previous year's work but also as an essential tool for companies to retain dedicated employees and influence job decisions. With the Lunar New Year drawing near, the excitement for prosperous celebrations is palpable.
 
 

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#Taiwan#year-end bonuses#Lunar New Year#financial planning#investment#corporate success#economic health#salary increase#industry distribution#bonus trends

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