US Google Average Salary Nears 370 Million KRW... "Severe Hiring Shortage Leads to Wage Increase"

Among 453 Companies, Average Salary Increased Last Year in 278 Firms

Facebook and Google logos. / Photo by Yonhap News

[Asia Economy Reporter Na Ye-eun] Amid ongoing labor shortages in the United States, it has been reported that the median annual salaries of employees at Alphabet, Google's parent company, and Meta, Facebook's parent company?two representative big tech firms?neared $300,000 (approximately 370 million KRW) last year.

On the 1st (local time), the US daily The Wall Street Journal (WSJ) cited data from MyLogiq, a corporate information firm that analyzed 453 companies listed in the Standard & Poor's (S&P) 500 index, reporting these findings.

According to the data, the median salary increased last year in 278 of the 453 companies, and 150 companies recorded median salaries exceeding $100,000 (approximately 120 million KRW).

Among them, Alphabet's median employee salary rose 8% from the previous year to $295,884 (approximately 370 million KRW), ranking first among the surveyed companies. Meta ranked second with an 11% increase to $292,785 (approximately 360 million KRW).

Other top-ranking companies included multinational pharmaceutical firms Insight ($248,810; approximately 310 million KRW) and Vertex ($234,107; approximately 290 million KRW), semiconductor company Broadcom ($247,541; approximately 300 million KRW), social media platform Twitter ($233,626; approximately 290 million KRW), biotech company Gilead Sciences ($211,687; approximately 260 million KRW), and semiconductor company NVIDIA ($217,542; approximately 270 million KRW).

Additionally, energy company Marathon Petroleum (261%) and market information firm Nielsen Holdings (116%) drew attention with triple-digit increases in median salary growth last year.

WSJ analyzed that "the salary increases were due to severe labor shortages in the information technology (IT) sector last year, prompting big tech companies to raise wages significantly to prevent the loss of talented employees and to recruit new personnel."

On the other hand, Aptiv, an autonomous driving company, recorded one of the lowest median salaries for full-time workers at its Mexico plant, at $7,500 (approximately 9.35 million KRW). Including Aptiv, 44 companies within the S&P 500 index reported median salaries below $30,000 (approximately 37 million KRW).

This content was produced with the assistance of AI translation services.