People like counting the money others get. When it comes to the tech industry, it’s getting even more curious. For instance, earlier today, an analysis agency reported that the average annual salary of Samsung Electronics employees in 2022 was about 130 million won. It converts to $99,620.
Is Samsung Electronics Paying Much Or Not?
The report said that the total wages of Samsung Electronics employees last year was 15.8365 trillion won ($12 billion). Also, the number of employees (in the first half of last year) was 113,604. So it turns out that the average annual salary of employees is between 133 million won ($100,000) and 138 million won ($110,000). This figure is a bit lower than the 144.6 million won ($110,800) in 2021 but higher than the 127 million won ($97,320) in 2020. The proportion of Samsung Electronics employee wages in sales is dropping year by year. It dropped from 8% in 2020 to 7.9% in 2021 and then to 7.5% in 2022.
Also read: Samsung Electronics Pays Its Graduate Employees Over $40,000 Per Annum
Gizchina News of the week
In addition, Samsung Electronics disclosed that the company had paid a total of 22.5 billion won ($17 million) to 11 registered directors (that is, people at the CEO level) in 2022. The total salary of the six external directors last year was about 700 million won ($536,415). The average salary of each of the five internal directors was about 4.36 billion won ($3.3 million). This is a decrease of more than 3 billion won ($2.3 million) compared with the average salary of 7.47 billion won ($5.7 million) in 2021. In other words, CEOs’ compensation has dropped by more than 40% in just one year.
The average pay gap between Samsung CEO-level directors and employees will be around 32 times. That’s up from 27.8 times in 2019 but down from 42.3 times in 2020 and 53.8 times in 2021.
Samsung Electronics hired 12,957 new employees last year. At the same time, 6,189 of its employees resigned employees, while 12,957 retired. By the end of FY 2021, the South Korean firm had over 266,000 employees working in domestic plants and offices.