In 2024, the global semiconductor industry will show new changes in the salary structure under the dual background of technological breakthroughs and market adjustments. Despite the slowdown in overall economic growth and some headwinds to the growth of the industry, the salary level of the semiconductor industry remains high, attracting a large number of technical elites to join. From the annual salary of chip design engineers exceeding 500,000 yuan to the salary of experienced technical experts exceeding the million-yuan mark, the semiconductor industry has become an important gathering place for high-end technical talents with its generous salary.
This year's salary trends reveal the intensity of competition for talent within the industry, as well as significant differences between roles, experiences, and geographies. For example, salaries for high-end design positions have fallen, while salaries for process and equipment engineers have bucked the trend, reflecting that market demand is gradually shifting from R&D to manufacturing. In addition, first-tier cities still occupy an advantage in the salary list, while emerging cities are also attracting talent through high salaries, gradually forming a regional competition pattern.
Through multi-dimensional data analysis, combined with industry cases and authoritative reports, China Exportsemi will comprehensively analyze the salary dynamics of the semiconductor industry in 2024. Whether it is a job seeker or a company in the industry, you can find clear guidance for future career development and talent strategies, and gain insight into the opportunities and challenges under the changing industry.
First, the overall salary of the industry
In 2024, despite global economic fluctuations and declining demand for semiconductors, industry salaries will remain high. According to statistics, the average annual salary of China's semiconductor industry in 2024 will be about 300,000 yuan, of which the average annual salary of social recruitment positions will reach 340,000 yuan. However, compared to 2023, the overall compensation level has decreased slightly, by 4%. Despite this, the semiconductor industry still maintains a high salary advantage in various domestic industries.
Second, the salary distribution of the post
1. Core technical positions:
1. Chip design engineers: The average annual salary of digital and analog chip engineers is more than 500,000 yuan, although it is down 1%-8% compared to 2023, it is still the highest-paid position in the industry.
2. Process Engineers and Equipment Engineers: Due to the increase in the demand for high-level technology in the manufacturing process, the salary of such positions has increased, with an average annual salary of 200,000 yuan, a year-on-year increase of 7%-8%.
2. Business & Support Positions:
1. Sales positions: The salaries of sales engineers and sales managers increased by 4% respectively, with an average annual salary of 200,000 yuan and 300,000 yuan, respectively, reflecting the continuous market demand for business development capabilities.
2. Non-technical positions: such as marketing, supply chain, etc., although the salary level is lower than that of technology research and development positions, it is still competitive, with an annual salary of about 150,000 to 250,000 yuan.
Figure: Salary analysis of the semiconductor industry in 2024
Thrid, the relationship between experience and salary
1. Fresh graduates:
1. The starting salary of master's degree graduates is generally between 250,000 and 350,000 yuan, and the overall average salary of school recruitment is 173,400 yuan, which is significantly higher than that of other industries.
2. Middle- and high-ranking engineers:
1. The annual salary range of engineers with 3-5 years of experience is 400,000 to 600,000 yuan, and the average salary is 262,400 yuan.
2. The average annual salary of an engineer with 5-10 years of experience is 354,400 yuan.
3. Senior Talents:
1. Engineers with more than 10 years of experience can earn up to 1 million yuan per year, and doctoral degree holders earn an even higher average salary of 1.05 million yuan.
Fourth, the trend and causes of salary changes
1. Overall Downward Trend:
Behind the decline in the overall salary of the industry is the global economic downturn, the cooling of investment enthusiasm, and the weakening demand for chips in some markets. In addition, the U.S. export restrictions on Chinese semiconductors have intensified market competition and affected the profitability of some companies.
2. Differentiation between positions:
Due to the saturation of the market and the increase in the supply of talents, the salary of chip design positions has been adjusted. In contrast, the increase in process and equipment engineer salaries reflects the continued expansion of the wafer fabrication sector and the increasing demand for equipment refreshes.
3. Significant regional differences:
First-tier cities (such as Beijing, Shanghai, and Shenzhen) have significantly higher salary levels than new first-tier and second-tier cities due to the concentration of technology and capital resources.
Fifth, Drivers of pay differentials
1. Technology Leadership and Market Position:
Technology leaders such as TSMC and AMEC provide generous salary packages for their employees with their high market share and stable profitability. For example, TSMC's median annual salary of global employees in 2022 reached NT$2.33 million (about RMB 550,000).
2. R&D investment and talent competition:
Technology-intensive companies are highly reliant on high-end talent to drive R&D and innovation. For example, GigaDevice's R&D investment rate is 18%, which provides a decent salary to attract top talent.
3. Business Profitability:
Companies with stable business growth, such as SRP, offer more room for employee benefits growth through profitability and market expansion.
4. Corporate Culture and Care:
Companies that focus on human care and career development, such as Hanssemi, attract and retain the best talent by creating a friendly working environment.
Six, Employment opportunities and salary outlook
1. Strong demand in the industry:
The surge in demand for semiconductors in emerging technology areas such as AI, cloud computing, and the Internet of Things will continue to drive the industry's demand for talent. According to the forecast of the China Semiconductor Industry Association, the talent gap in 2024 will be about 230,000.
2. Cross-sector integration promotes employment:
Emerging markets such as automotive electronics and aerospace have increased demand for chip technology, providing vast employment opportunities for engineers. For example, automotive intelligence has driven significant growth in demand for power semiconductors.
3. Diverse career paths:
From design to manufacturing to packaging and testing, a variety of fields offer a wide range of career paths. In addition, there are more opportunities for promotion within the industry, and employees can get both salary and position promotion by upgrading their skills.
Seven, Salary analysis of typical enterprises
According to the latest data, the following businesses offer the highest levels of compensation in the industry:
Figure: Representatives of the highest-paid companies in the semiconductor industry in 2024
Eight, Suggestions and Summary
1. Advice to Job Seekers:
1. Skill improvement and market docking: Continue to follow up industry trends and learn cutting-edge technologies such as AI chips and power semiconductors.
2. Accumulation of project experience: Enhance practical ability by participating in actual projects to enhance competitiveness in salary negotiations.
2. Advice for Businesses:
1. Flexible salary system: design incentive policies according to the characteristics of the position, such as providing exclusive bonuses for R&D positions.
2. Strengthen talent training: improve the professional quality of employees and reduce the turnover rate through cooperative training and internal training mechanisms.
Nine, Summary:
Although the salary growth rate of the semiconductor industry will slow down in 2024, the overall level is still at a high level. Salary distribution is closely related to the needs of the industry, and enterprises and job seekers should take a long-term view of the development and seize the opportunities of technological change and market demand to jointly promote the sustainable development of the semiconductor industry.
*Relevant data sources
- Aiji micro survey data
- Smart Salary x Semiconductor HR Guild Smart Compensation SAAS Platform smartsalary.isee-hr.cn
- "Industry Salary Trend Insight Report for the First Half of 2024" - Shanshi Group
- "2024 Semiconductor Industry Salary Report" – Smart Salary
- "2024 Semiconductor Industry Salary and Recruitment Trend Analysis" - China Salary Report Website
