According to the latest Managing Pay to Compete in the Semiconductor Industry Survey Report released by WTW, the salary increase rate in the semiconductor industry will continue to outgrow the rate in all other industries in the High Tech sector across Asia Pacific. Most semiconductor companies intend to focus their compensation resources on their top performers, key functions such as research and development (R&D), and fresh graduates. Notably, all companies surveyed are trying to leverage diversified ways to attract and retain workers to respond to the fierce competition for talent, while cash compensation is still the most prevalent tool used. Here are some insights from the survey.
Figure 1. While the salary increase rate in the semiconductor industry is higher than the rest of the High Tech industry across all surveyed markets, the most significant difference is in India.
Figure 2. Over 40% of companies in China and Taiwan report having higher actual salary increases than their original budgets in 2022.
Figure 3. Over 50% of companies have a salary increase rate higher than 5% for fresh graduates with a BSc, MSc or PhD degree in Taiwan and China.
75.4% Leverage retention or sign-on bonuses for talent attraction and retention
*This article is adapted from a Chinese language article dated June 8, 2022.
Contact
Tech, Media and Gaming Compensation Surveys
Explore the benefits of WTW survey participation
Trending Topic
Beyond Data
