On April 29, Yonhap News Agency reported that the internal announcement of the Samsung Electronics Labor Agreement showed that the two sides agreed on a plan to increase the average salary of all employees by 9% in 2022. From now on, salaries will be adjusted according to the different grades and performance appraisal results of employees, and the maximum increase can even reach 16.5%.
It is understood that Samsung Electronics will release the results of salary negotiations in early March every year, and this year's agreement will require an average salary increase of 15%, but after 11 negotiations, a consensus was finally reached on an increase of 9%, and the result was announced to be postponed so far. Although far from the expected 15 percent increase, this is already the highest increase in nearly 10 years, 1.5 percentage points higher than last year's 7.5 percent.
After the salary increase, the starting salary of undergraduate graduates rose to 51.5 million won (about 270,000 yuan), and the average monthly salary was more than 20,000 yuan, which was much higher than that of domestic undergraduate graduates. Of course, the graduates who can be recruited by Samsung Electronics are basically the top batch of technical ability in colleges and universities, and the monthly salary of 20,000 is quite normal.
In addition, both labor and management have also adjusted the leave policy, adding 3 days of paid annual leave every year, and increasing paternity leave from the original 10 days to 15 days to help employees achieve work-life balance. South Korea's CXO agency research found that the average annual salary of ordinary employees of Samsung Electronics last year was 743,400 yuan, and the average salary of THE CEO was 33.36 million yuan, which was 44 times that of the former. After the 9% salary increase, the average salary of ordinary employees exceeded 810,000 yuan, and the monthly salary exceeded 60,000 yuan.
As the largest subsidiary of Samsung Group, Samsung Electronics mainly has many businesses such as mobile phones, TVs, semiconductors, and home appliances. Among them, the sales volume of Samsung mobile phones/TVs ranks first in the world, and the sales of home appliances also rank among the top in the world. And semiconductor is the most profitable business in the past two years, under the influence of global lack of cores, there is no need to worry about orders, Qualcomm, NVIDIA and other big manufacturers have rushed to send money to Samsung.
The rapid development of the electronics industry has promoted the revenue and profit growth of Samsung Electronics, so it has the courage to give all employees a salary increase. One of its competitors, TSMC, has also recently adjusted employees' salaries, with a salary increase of 5% to 10%. The semiconductor industry is really too profitable, and in the context of the bad global economic conditions, it can also raise wages sharply, while more workers are still worried about when they will be laid off, and the treatment gap is too big.