I get it. Taipei is expensive in relation to the typical salaries. This is why the birthrate is so low. But compare it with life in big cities like London and New York for families on equivalent salaries. I’d be much happier with $100,000 a month in Taipei than I would be on £50,000 a year (a “high” salary according to the tax bracket definitions) in London. A family with a combined monthly income of $120,000 in Taipei would be much more comfortable than a family with a combined income of £70,000 a year in London.
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I guess I could agree that 120k twd in Taipei beats 70k gbp in London, but the issue is that 120k twd is not really that much in any western country so if you for some reason wanted to go back that door will be closed if you haven’t saved sufficiently while here.
Should be added, haven’t done the numbers but you do need to save a fair bit to get 120k twd per month in retirement which might last 30 years …
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If you were on 50k in London and your in-laws bought you a flat so you could live rent/mortgage free would you be happier?
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Yeah, I agree on this point. If your priority in going abroad to work is to save money to take back home, then stay the hell away from Taiwan…
Yes, because mortgage or rent in London take up such a massive chunk of your salary that 50K without having to worry about that cost would actually be pretty amazing.
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Pretty much every Taiwanese person I know has an apartment bought for them by parents or in-laws. As you say, factoring out the ridiculous housing costs of London and it’s really not that much more expensive than Taipei. Food, petrol and public transport are more expensive. Beer’s cheaper (in pubs of course - 7-Eleven tightwads!).
I assume that this kind of thing has contributed to the low salaries and high mortgage costs. But, because so many Taiwanese people either live with their parents through to their middle ages or live in a flat that was paid for them, I think they can get by quite well on what would otherwise appear to be incredibly low salaries. Of course, that does nothing to help those adults who actually want to be independent and couples who want to start their own families…
I totally agree that London wouldn’t actually be that bad if not for the high housing costs. Even 35K (the average London salary) wouldn’t be half bad. I’m pretty sure that more than half my monthly income goes towards mortgage and associated costs (service charge, insurance, etc.).
I believe it is the same story for many Taiwanese. Some are lucky to get an apartment gifted, others get the deposit paid and then pay the mortgage. Others including me get SFA for free. 
I’m interested if any Taiwanese can comment on the survey result, any surprises ?
Whoah! How much alimony (and how many exes) does this involve? : D
Guy
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getting an apartment gifted is nice, but then you would want to gift something similar to your kids, how will that be possible ?
You use some of the positive equity as a down-payment.
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but then u still need to pay the bank, no?
u pay the bank for the down payment, and your kid pays the remaining mortgage on his place, so what does that achieve ?
It enables the kid to buy a place. Without 100% mortgages a shed load of money is required to get on the property ladder. Without a deposit the kid is forever renting.
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I’d be interested in proportion of income saved. Do higher income earners end up splurging more and so basically save around the same amount as lower income earners. (Within reason - say NT$80,000 salary versus NT$140,000)
Thanks! let me know how I can help making the spreadsheet better.
I’m really keen to get. I think 100 salaries is however still not enough to get some “conclusions” . Hopefully it can get to 500+ salaries, where we can start making some interesting stats.
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0, didn’t factor in anything like alimony etc
Don’t think you need 120 if you own your place, but if you are still renting you might want it
Since you didn’t believe it in the other thread, do note how lopsided the TSMC guy in that survey has his base salary relative to “other compensation”.
I know very well engineers all get big bonuses there on good revenue years. My question was always about the rest of the staff , non engineers .
Yeah I think the cycle has to stop at some point. The older generation saved well, but I don’t see the same in the younger generations. Eventually the family money runs out.
outside of Taipei they’re very cheap. private kindergartens with some government funding are about 4 to 6000/ month where I’m looking.
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