One in Four Japanese Listed Companies Raised Average Annual Salaries by ¥300,000 in 2022Economy Work Society
The average annual salary for 3,800 listed companies in Japan in fiscal 2022 (April 2022–March 2023) rose year-on-year by ¥140,000, or 2.2%, to ¥6.4 million. This was approximately ¥2 million higher than the overall average annual salary in Japan, which stands at ¥4,430,000. Both the average salary at listed companies and the amount of the increase were the highest on record over the last twenty years. The median was ¥6.1 million; the first time that it has surpassed the ¥6 million mark.
Average salaries at 68.9% of listed companies increased from the previous year, indicating that momentum to raise pay is steadily spreading. One in four listed companies (25.3%) increased salaries by ¥300,000 or more and half (52.1%) raised them by more than ¥100,000. The push to increase pay due to rising prices and labor shortages is thought to be behind this sharp rise from fiscal 2022 onward.
The most common range for average salaries with 27.7% (1,059 companies), was ¥5 million up to ¥6 million, followed by 24.5% in the ¥6 million to ¥7 million range, and 19.4% paying between ¥4 million and ¥5 million. There was a 20-year record high of 134 companies that paid average salaries of more than ¥10 million. This included general trading companies, M&A brokers, media companies, and real estate agents. The salaries at roughly 90% of all the listed companies were higher than the national average.
(Translated from Japanese. Banner photo © Pixta.)