Uni-President Securities tops financial sector in 2024 average salary

Taipei, June 4 (CNA) Uni-President Securities Corp. led all listed companies in the financial services sector in average employee salary last year at NT$2.099 million (US$70,009), helped by Taiwan's bull market, recently released Taiwan Stock Exchange (TWSE) data showed.

Shares in Taiwan surged 28.4 percent in 2024 on record high average daily turnover of NT$412.4 billion, leading to combined brokerage business profits of NT$96.109 billion, up 61.99 percent from 2023.

The sharp jump in profits led to a boost in salaries for employees across securities companies and the securities-driven financial holding company sector.

According to the 2024 ranking of average employee salaries among listed financial and insurance companies, Uni-President Securities claimed the top spot at NT$2.099 million, a 26.8 percent year-on-year increase.

Yuanta Financial Holdings, with Yuanta Securities as its primary securities firm, came in second at NT$2.022 million, up 20.1 percent year-on-year, while Central Reinsurance Corp. came in third at NT$1.896 million, up 11.3 percent from the previous year.

Yuanta Financial's 2024 earnings per share (EPS) of NT$2.77 ranked fourth among Taiwan's 14 listed financial holding companies, behind Fubon Financial Holding Co. (NT$10.77), Cathay Financial Holding Co. (NT$7.29) and CTBC Financial Holding Co. (NT$3.64), according to data on the TWSE Market Observation Post System (MOPS),

In terms of average employee salary expenses for the 14 listed financial holding companies, Yuanta Financial ranked first with an average annual salary of NT$2.022 million, followed by CTBC Financial at NT$1.876 million, up 4.4 percent year-on-year.

Fubon Financial was the most profitable financial holding company in 2024 but its average employee salary was only NT$1.347 million, just ahead of Cathay Financial, which had an average salary of NT$1.313 million.

Among listed financial holding companies with state-owned banks, Mega Financial Holding Co. led with an average salary of NT$1.759 million, ranking third among all financial holding companies and seventh across all listed financial and insurance firms.

King's Town Bank had the lowest average salary in the sector at NT$990,000, down 11.4 percent year-on-year, making it the only bank in the group with an average salary under NT$1 million.

Union Bank of Taiwan followed at NT$1.035 million, and Taiwan Fire & Marine Insurance Co. came in third from the bottom at NT$1.076 million, according to the MOPS data.