Are Taiwanese Workers Really Getting Raises? July Average Salary at NT$49K, Median Below NT$40K – DGBAS Releases Latest Data

The Directorate General of Budget, Accounting and Statistics (DGBAS) today (14th) released the latest wage statistics for the industrial and service sectors. Due to steady wage growth, real regular wages from January to July 2023 increased by 1.12% year-on-year—the highest increase in six years. Real total wages also rose by 2.33% annually, marking the largest gain in 11 years.

In July, the average wage was NT$49,491, while the median was below NT$40,000 at NT$39,629. What explains the gap between these two figures?

According to DGBAS data, the average regular monthly wage for all employees in July was NT$49,491, up 3.32% year-on-year. Non-regular income such as bonuses and overtime pay amounted to NT$21,674, bringing the average total monthly compensation to NT$71,165—an 8.25% increase from the previous year.

However, average wages can be skewed upward by high earners, making them less representative of the actual 'wage reality' for most salaried workers. To address this, DGBAS also published the median regular wage for July, which stood at NT$39,629, up 3.47% year-on-year.

Wages Are Rising Faster Than Prices! Real Wages Hit Multi-Year Highs, But One Concern Looms Ahead

When adjusting for inflation, real regular wages grew by 1.12% and real total wages by 2.33% during the first seven months of 2023—both showing positive growth. This indicates that wage increases have still outpaced the rate of price inflation.

Tanya Tan, Deputy Director of the DGBAS Census Division, stated: 'From January to July 2023, the Consumer Price Index (CPI) rose an average of 1.8%. Wage growth has clearly exceeded inflation, allowing real wages to continue rising. However, in recent months, the pace of price increases has accelerated, with CPI growth now surpassing 2%. This trend is likely to erode the room for future real wage growth.'