Seoul, South Korea – According to a recent analysis by the corporate analysis firm Korea CXO Institute, the average annual salary for employees at Samsung Electronics is estimated to be around ₩128 million (approximately $96,000 USD).
The analysis, which excluded registered executives, focused on non-registered executives and general employees below the rank of department head. It took into account changes in average compensation and labor costs, as well as monthly data on National Pension Service subscribers.
Samsung Electronics' reported average salary for 2023 was ₩120 million. However, the Korea CXO Institute's analysis suggests that the actual average salary for employees in 2024 is likely to be higher.
The institute also found that Samsung Electronics' labor cost ratio (the proportion of labor costs to sales) decreased from 10.6% in 2023 to 9.4% in 2024. In 2024, Samsung Electronics spent over ₩16 trillion on salaries and retirement benefits, and an additional ₩3.4 trillion on welfare benefits, for a total of ₩19.5 trillion in labor costs.
Meanwhile, the number of Samsung Electronics employees increased by 4,716 in 2024, reaching 125,593 as of December 2024. The company hired 10,960 new employees and had 6,459 employees leave during the year.
This analysis provides insights into the compensation trends and workforce dynamics at Samsung Electronics, one of the world's largest technology companies.
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