To reach the 70 million won mark, large companies were up to 15 years faster than mid-sized and small companies. (Image credit: Kobiz Media/Korea Bizwire)
SEOUL, Feb. 21 (Korea Bizwire) — While it takes an average of 10 years for workers at a large company to reach a salary of 70 million won (US$58,150) per year, it has been confirmed that employees of small and mid-sized companies have to work for more than 25 years to reach a similar salary level.
Job portal Incruit and part-time job search app Alba Call analyzed data from the Ministry of Employment and Labor, showing differences in wages between different companies.
First of all, the average annual salary for “less than a year” workers at “business sites with more than 300 employees” began at 32.4 million won.
On the other hand, wages fell as the company’s size decreased, to 30.7 million won for “businesses with between 100 and 299 employees”, 28.9 million won for “businesses with between 30 and 99 employees” businesses and 27.2 million won for “businesses with between 5 and 29 employees.”
There was a big difference in wage increases as well as starting points. Wages for workers at workplaces with “300 or more employees” during “between one and three years” rose 27.6 percent to 41.3 million won.
On the other hand, “businesses with between 100 and 299″ showed wages of 34 million won, compared to 31.5 million won for “businesses with between 30 and 99 employees” and 29.5 million won for ”businesses with between 5 and 29 employees.”
The increase rate by workplaces was 10.8 percent, 9.2 percent and 8.8 percent in order, up to one-third lower compared to those with 300 or more businesses.
Meanwhile, to reach the 70 million won mark, large companies were up to 15 years faster than mid-sized and small companies.
While “business sites with more than 300 employees” took less than 10 to 15 years, “business sites with 100 to 299 employees” and “business sites with 30 to 99 employees” reached the 70 million won mark only if they worked “more than 25 years.”
D. M. Park (dmpark@koreabizwire.com)
