Semiconductor giants strive to attract talent

Japan's top chip equipment maker Tokyo Electron will raise the starting monthly salaries of new recruits by about 40%.

Nhà sản xuất thiết bị bán dẫn hàng đầu Nhật Bản tăng lương khởi điểm 40% để thu hút nhân tài

Japan is focusing on developing semiconductor equipment production. (Source: Nikkei Asia)

This is the company's new effort to attract talent by bringing starting salaries on par with foreign companies.

The company plans to raise salaries for all new employees by 85,500 yen (about $610). Under the new salary, university graduates who join the company in April 2024 will receive 304,800 yen (about $2,161) a month, while those with higher qualifications will receive 320,000 yen (about $2,270), both above the 300,000 yen mark. This is the first time Tokyo Electron has raised salaries for new employees in seven years.

Tokyo Electron plans to accept about 400 new graduates in spring 2024 and will gradually increase the number of new employees to 500 over the next few years.

In recent times, Japan has received a series of large investments related to the chip industry, including investment from Taiwanese (Chinese) semiconductor manufacturer TSMC.

Chipmakers are offering high wages to hire skilled workers, and the trend is also reaching device makers.

According to the National Personnel Agency's spring 2023 survey, the average monthly starting salary at private-sector companies in Japan is around 210,000 yen for university graduates and 230,000 yen for those with higher degrees.

Meanwhile, many foreign semiconductor and equipment manufacturers operating in Japan offer starting salaries above 300,000 yen for those with a university degree.

A source at Tokyo Electron said the company aims to raise salaries to be on par with foreign rivals to compete in attracting talent. In fact, thanks to positive business results, Tokyo Electron has been increasing annual salaries for employees, including bonuses.

Amid the US-China trade spat and Washington's efforts to limit Beijing's access to advanced semiconductor technology, Japan is rushing to revive its chipmaking facilities to ensure its automakers and IT companies do not suffer shortages of the crucial component.

( according to Nikkei)

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