Taiwan, a bustling island known for its modern cities, breathtaking landscapes, and unique blend of traditional and contemporary culture, has increasingly become a desirable place for expats, digital nomads, and foreign professionals. One of the primary concerns for anyone considering moving to Taiwan is understanding what constitutes a good salary to live comfortably.
In this article, we’ll break down the key factors that influence what a “good” salary is in Taiwan, taking into account the cost of living, lifestyle expectations, and regional differences.
1. Cost of living in Taiwan
The cost of living in Taiwan varies by city, with Taipei being the most expensive. Here's a quick overview of typical expenses:
Housing
In Taipei, rent for a one-bedroom apartment ranges from NT$15,000 to NT$30,000 (USD $500 to $1,000). In smaller cities like Taichung or Tainan, rent drops to NT$7,000 to NT$15,000 (USD $230 to $500). To see more about how much is the apartment rent in Taiwan, check our article!
Food
Eating out is affordable, with street food meals costing NT$100 to NT$300 (USD $3 to $10). Groceries for one person typically range between NT$3,000 and NT$6,000 (USD $100 to $200) monthly.
Transportation
Public transit is cheap, with MRT fares between NT$20 to NT$65 (USD $0.65 to $2), and monthly passes around NT$1,280 (USD $42).
Healthcare
Taiwan’s National Health Insurance (NHI) keeps medical costs low, with monthly premiums ranging from NT$800 to NT$1,500 (USD $25 to $50).
In summary, Taiwan’s cost of living is moderate, with Taipei being the priciest, while smaller cities offer more affordable living options.
2. What is considered a good salary in Taiwan?
The definition of a “good” salary in Taiwan depends on several factors, including your lifestyle, location, and whether you have dependents. Here’s a breakdown of average salaries and what can be considered a comfortable wage for different individuals:
2.1. Average salaries in Taiwan
Minimum Wage
The minimum wage in Taiwan as of 2024 is NT$27,470 (USD $870) per month for full-time employees. While this salary may be enough for basic living expenses in smaller cities, it would be difficult to maintain a comfortable lifestyle in Taipei on this income.
Average Salary
The average monthly salary in Taiwan is around NT$40,000 to NT$50,000 (USD $1,300 to $1,650). This salary allows for a modest lifestyle in Taipei and a more comfortable one in smaller cities like Taichung or Tainan.
2.2. Salary for a comfortable lifestyle in Taipei
Living in Taipei, the most expensive city in Taiwan, requires a higher salary to maintain a comfortable lifestyle. A salary of around NT$60,000 to NT$80,000 (USD $2,000 to $2,600) per month would allow you to comfortably afford rent, dining out, transportation, and occasional entertainment. This salary range is common for professionals working in industries like tech, finance, and education.
2.3. Salary for a comfortable lifestyle in smaller cities
In cities like Taichung, Kaohsiung, or Tainan, where the cost of living is lower, a salary of NT$40,000 to NT$60,000 (USD $1,300 to $2,000) per month can provide a comfortable lifestyle. You’ll find that rent, food, and transportation costs are significantly lower, allowing you to save more or enjoy a higher quality of life compared to Taipei.
2.4. High salaries in Taiwan
For those in executive or specialized roles, salaries can exceed NT$100,000 (USD $3,300) per month. Expats in managerial positions, software engineers, and professionals in high-demand industries may earn between NT$100,000 and NT$200,000 (USD $3,300 to $6,600) per month, providing a very comfortable lifestyle with ample opportunities for savings.
3. What factors affect salary expectations in Taiwan?
Several factors can influence what salary you should aim for when living in Taiwan. These include:
3.1. Industry
Certain industries offer higher salaries than others. For example, professionals working in tech, finance, and international business tend to earn more than those in education or the arts. English teachers in Taiwan typically earn between NT$50,000 and NT$70,000 (USD $1,650 to $2,300) per month, while software engineers and finance professionals can earn significantly more.
3.2. Experience and Qualifications
As with most places, your experience and qualifications play a significant role in determining your salary. Those with advanced degrees or specialized skills are likely to earn more than entry-level workers. Many companies also offer bonuses and performance incentives, which can increase your overall earnings.
3.3. Location
As previously mentioned, where you live in Taiwan greatly affects your salary expectations. Higher salaries are typically found in Taipei due to the higher cost of living, while smaller cities offer lower salaries but also reduced living costs. To know more about the cheapest places in Taiwan, check here!
3.4. Dependents and Lifestyle
Your personal situation, such as whether you are supporting a family or prefer a more luxurious lifestyle, will also influence what constitutes a good salary for you. A single person may find NT$50,000 per month sufficient, while a family might require NT$80,000 to NT$100,000 (USD $2,600 to $3,300) per month to live comfortably, particularly in Taipei.
4. Comparing Taiwan’s salary expectations to other countries
Taiwan’s cost of living is relatively low compared to countries like Japan, South Korea, or Western nations, which means that even a modest salary can go a long way. For example, the average salary in Taipei may be lower than in cities like Tokyo or Seoul, but the cost of housing, transportation, and healthcare is also significantly lower in Taiwan. As a result, many expats find that their quality of life in Taiwan is comparable to or better than in these other countries, despite earning less.
If you want to compare the cost of living in Taiwan between the most popular cities like Taipei, Kaohsiung, Taichung, don't hesitate to check our calculator !
Check our cost of living calculator
What is a good salary to live in Taiwan?
A “good” salary in Taiwan depends on a variety of factors, including where you live, your lifestyle, and your personal financial goals. For a single person, earning NT$50,000 to NT$70,000 (USD $1,650 to $2,300) per month is generally considered comfortable in most parts of the island. In Taipei, where the cost of living is higher, a salary of NT$60,000 to NT$80,000 (USD $2,000 to $2,600) is ideal for maintaining a good quality of life.
Those with dependents or those seeking a more luxurious lifestyle may require higher salaries. Ultimately, Taiwan’s affordable cost of living, combined with its efficient public services and high quality of life, makes it possible to live well on a modest salary compared to many other parts of the world.
The information provided in the article is based on publicly available data, general trends, and commonly reported experiences of expats and foreign residents living in Taiwan. Some sources that contributed to the insights include:
- Taiwan government websites: Information about the National Health Insurance (NHI) system, minimum wage, and other official statistics.
- Expat and travel blogs: Insights from people living in Taiwan, such as Nomad List, Expat Arrivals, and various expat forums like Taiwanease and Forumosa, which frequently discuss cost of living and salary expectations.
- Cost of living tools: Websites like Numbeo and Expatistan provide user-generated data on average housing, food, and transportation costs in various Taiwanese cities.
- Job Portals and company listings: Salary expectations for different industries are derived from job portals like 104.com.tw and Glassdoor.
