Tokio Marine & Nichido Fire Insurance plans to raise its starting monthly salary for university graduates joining the nonlife insurer in April 2026 to as much as ┬е410,000, sources said Friday.
According to the plan, if a career-track employee agrees to be relocated to an area far from his or her current home and actually works there, the monthly salary will increase by as much as some ┬е130,000 from the current maximum of ┬е280,000.
The aim is to secure and retain human resources amid continuing labor shortages in Japan. A formal decision will be made after consultation with the labor union.
Tokio Marine will abolish area-based career-track positions, whose work locations are limited, in fiscal 2026, and unify its recruitment to general career-track positions. For those who do not wish to be transferred, the starting salary will be about ┬е280,000.
Major Japanese companies are increasingly moving to raise their starting salaries to secure human resources.
Sumitomo Mitsui Banking will increase its starting monthly salary for university graduates joining the bank in fiscal 2026 to ┬е300,000. At Meiji Yasuda Life Insurance, the starting monthly salary will rise to ┬е332,000, including fixed overtime pay, in fiscal 2025.
