Sumitomo Mitsui Banking plans to raise its starting monthly salary to 300,000 yen, or nearly 1,900 dollars, from April next year. The firm is the first among Japanese megabanks to offer wages at this level.
Sources say Sumitomo Mitsui has decided to increase base pay by up to 18 percent for new recruits with bachelor and master's degrees from the beginning of next fiscal year.
A number of financial organizations are making plans to raise base pay for newcomers, amid Japan's severe labor shortage.
Brokerages including Daiwa Securities Group also plan to hike starting wages to 300,000 yen.
Sources say Sumitomo Mitsui has decided to increase base pay by up to 18 percent for new recruits with bachelor and master's degrees from the beginning of next fiscal year.
A number of financial organizations are making plans to raise base pay for newcomers, amid Japan's severe labor shortage.
Brokerages including Daiwa Securities Group also plan to hike starting wages to 300,000 yen.
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Summary
Sumitomo Mitsui Banking will increase new hires' starting monthly salary to approximately 1,900 USD (300,000 yen) from next April. This makes it the first among Japanese megabanks to offer such high wages. Other financial organizations are also planning to raise base pay for newcomers due to
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ID: 397ed716-d0fc-4d92-88e6-7adf4fc27889
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250108_B05/
Created: 2025/01/09 07:00
Updated: 2025/12/08 07:17
Last Read: 2025/01/09 07:42