‘I can't save, I have nothing at all put by for my old age:’ A Japanese salaryman’s plight mirrors that of many workers employed at small and medium-sized firms in the country, where the average salary in 2020 was $38,515, little changed from the 1990s
Instead, his annual salary of about $34,000 goes to support his family and has risen by just $4 a year for nearly a decade.
Masamitsu's plight mirrors that of many workers at small and medium-sized firms in Japan, where the average salary in 2020 was $38,515, little changed from the 1990s and well below the average of $49,165 in countries of the Organisation for Economic Cooperation and Development . After a long series of unsuccessful interviews, he felt lucky to land his current job, only to be told upfront that raises would be only 500 yen a year for the first decade.
Masamitsu's monthly pay, along with allowances common in Japan, amounts to about 250,000 yen, and he gets a bonus of two months' pay twice a year for a yearly total of roughly 4 million yen .From this sum he supports his wife, who works part-time to supplement their income, and a daughter who is just about to complete high school.
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