Private Bankers Win Big Paydays in Fight for Taiwan’s Newly Rich

Taiwan’s private banks are grappling with a talent crunch in their bid to target the island’s growing $7 trillion pool of wealth, forcing firms to boost compensation as they struggle to fill positions.

As global banks like UBS Group AG and HSBC Holdings Plc square off with local powerhouses, base salaries for elite wealth managers have climbed about 40% over the past five years in some instances. Top-tier candidates are fetching sign-on bonuses and guaranteed annual packages of around NT$10 million ($315,000), according to recruitment firms.