The Average is 39.44 Million Won
Job seekers looking for their first job prefer large corporations, with the desired starting salary being 42.14 million KRW. The average starting salary desired by all job seekers was found to be 39.44 million KRW.
On the 1st, job seekers attending the 'Public Institution Recruitment Information Fair' held at the aT Center in Seocho-gu, Seoul, are looking at the recruitment bulletin board. Photo by Jinhyung Kang aymsdream@
On the 29th, HR tech company Incruit conducted a survey from the 20th to the 21st of this month targeting 653 new job seekers, including university graduates expected to graduate in August and recent graduates. The survey found that the average desired annual salary for new job seekers was 39.44 million KRW.
By gender, the desired starting salary was about 42.04 million KRW for men and 37.8 million KRW for women, which is 640,000 KRW higher than last year's average of 38.8 million KRW.
Considering realistic factors such as inflation rate and personal living standards, the most frequently chosen desired starting salary at the time of joining, regardless of company size or job category, was 40 million KRW.
The factor that most influenced the determination of the starting salary level was the consideration of fixed expenses such as loans, tuition fees, and living expenses, accounting for 37.9%. This was followed by company size and industry average starting salary level at 20.8%, and current inflation level at 20.5%, showing similar response rates.
Regarding how important the starting salary level is in deciding whether to apply for a job, the majority of respondents, 95.4%, answered that the starting salary level is important in deciding whether to apply.
More than half of the respondents, 54.4%, chose large corporations as their preferred companies to join. This was followed by mid-sized companies at 46.2%, and foreign companies at 19.1%.
Meanwhile, according to the '2022 Q4 Public Tax Statistics' announced by the National Tax Service last year, the average salary per employee was 40.24 million KRW.
The average salary per employee increased from 35.19 million KRW in 2017 to 36.47 million KRW in 2018, 37.44 million KRW in 2019, then rose to 38.28 million KRW in 2020, and surpassed 40 million KRW for the first time in 2021.
In the same year, the total salary of 19,959 people in the top 0.1% bracket averaged 956.15 million KRW per person.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
