Graduate Starting Salary Hits W3 Million a Month at Big Firms

      December 02, 2013 10:52

      The average annual starting salary for college graduates at large conglomerates hit the W3-million mark for the first time this year, despite a recent slowdown in the growth of their earnings.

      According to a survey of 562 domestic firms by the Korea Employers Federation on Sunday, staff salaries rose an average 4 percent this year, 1.1 percentage percent lower than last year's increase.

      It was the slowest mark-up since 2009, when the economy was reeling in the aftermath of the financial crisis.

      The average pay rise rate for 2009 stood at 1.4 percent but hovered around 5 percent until last year.

      The average starting salary for college graduates this year was W2.66 million a month. The figure for big conglomerates with over 1,000 employees slightly exceeded W3 million, while small and medium-sized firms with less than 300 workers paid W2.34 million.

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