Yuanta, CTBC and IBF pay highest salaries in finance industry

  • By Kao Shih-ching / Staff Reporter

Yuanta Financial Holding Co (元大金控), CTBC Financial Holding Co (中信金控), and IBF Financial Holdings Co (國票金控) topped their local financial conglomerate peers in terms of employee paychecks in the year latest, according to data released by the companies showed yesterday.

Yuanta Financial reported a 25.6% annual increase in average employee salary to NT$2.04 million ($69,416) last year, making it Taiwan’s only financial conglomerate with a average salary over NT$2 million, according to company data.

CTBC Financial was second, paying its employees NT$1.9 million on average, up 21% from a year earlier, according to company data.

Photo: Chang Hui-wen, Taipei Times

IBF Financial ranked third with an average of NT$1.84 million, up 21%, according to its data.

Salaries for financial sector employees averaged NT$1.3 million, up 9.24% from a year earlier, helped by their employers’ average earnings per share (EPS) of 2.79 NT dollars last year, compared to NT$1.92 in 2020.

In terms of employee compensation, which includes salaries and benefits, Yuanta Financial and CTBC Financial topped the charts with averages of NT$2.31 million and NT$2.1 million respectively, while that state-owned Mega Financial Holding Co (兆豐金控) beat IBF Financial. with an average of NT$2.09 million.

Cathay Financial Holding Co (國泰金控) and Fubon Financial Holding Co (富邦金控), the country’s largest financial companies by assets and earnings respectively, reported the lowest average compensation among their peers.

Cathay Financial’s average employee salary increased slightly by 0.8% to NT$1.01 million, with an average compensation of NT$1.16 million, while Fubon Financial’s salaries increased by 8 .4% to reach NT$1.03 million on average, with an average earnings of NT$1.22 million, according to the published data. by companies have shown.

The two companies have 57,568 and 44,993 employees respectively, compared to Yuanta Financial’s 14,390 employees, CTBC Financial’s 21,087 employees and IBF Financial’s 1,530 employees.

Cathay Financial’s EPS was NT$10.34 last year, while Fubon Financial posted EPS of NT$12.49, well above the industry average of NT$2.79.

President Securities Corp (統一證券), China Bills Finance Corp (中華票券) and Central Reinsurance Corp (中央再保) topped the ranking of independent financial companies.

President Securities paid its employees an average of NT$2.16 million, 28.6% more than in 2020 and NT$790,000 more than the average salary of its listed counterpart Capital Securities Corp (群益證券) .

China Bills paid NT$1.88 million, up 7.4% year-on-year, and Central Reinsurance paid NT$1.83 million, up 21% from 2020.

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