Few predict salary increase: surveyBy Kao Shih-ching / Staff reporterMore than 68 percent of people do not believe their salary would increase after the government raises the minimum monthly wage to NT$24,000 (US$830.36) next year, a survey released on Tuesday by Cathay Financial Holding Co (國泰金控) showed. A Cathay Financial poll conducted in September last year found that 61.9 percent of respondents said that they did not expect a pay increase after the Ministry of Labor announced that it would increase the minimum monthly wage from NT$23,100 to NT$23,800. The surveys show that a majority of consumers do not think they would benefit from adjustments to the minimum salary, Cathay Financial economic research division manager Nelson Chen (陳志祿) told the Taipei Times by telephone on Wednesday. The latest survey of 23,532 respondents showed that 25 percent of people expected a salary increase of less than 3 percent next year, while 4.6 percent of respondents said they expected an increase of 3 percent to 5 percent, and 1.8 percent predicted an increase of more than 5 percent. However, 61.8 percent of respondents predicted that their salary would remain unchanged for the next six months, and 39.3 percent forecast a tougher job market, the survey found.

Source: Taipei Times October 22, 2020 15:56 UTC