TOKYO -- Chipmaking equipment manufacturer Tokyo Electron will raise the starting monthly salaries of new hires by about 40%, seeking to secure talent by bringing its pay in line with that of foreign peers.
The company is increasing the pay for all new hires by 85,500 yen. College graduates joining the company in April 2024 will receive 304,800 yen ($2,161) a month, while those with higher degrees get 320,000 yen, both above the 300,000-yen mark. This is Tokyo Electron's first pay hike in seven years for new hires.
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