Between SM Entertainment and JYP Entertainment, which company and artists have a higher average annual salary? In a recent report of Korea's financial regulator, the amount of money K-pop artists such as TWICE, ITZY, aespa and others make a year, was revealed.
On October 29, the Korean media outlet News2Day wrote an article in which the average annual salary in JYP Entertainment and SM Entertainment were examined.
As a result, it was determined that despite SM Entertainment being one of the highest-earning companies among agencies, JYP which is home to TWICE, ITZY and more has a higher average annual salary.
TWICE, ITZY, aespa and More: How Much Money Do Artists Under JYP and SM Make a Year?
Based on South Korea's integrated financial regulator, Financial Supervisory Service, artists under JYP Entertainment such as TWICE and ITZY have an average annual salary of 76.97 million won (about 65,000 USD).
On the other hand, SM Entertainment artists' average annual salary such as aespa is 48.84 million won (about 40,000 USD).
In terms of the salary of executives in SM Entertainment, the average remuneration is 234.04 million won, while in JYP, executives receive 419.56 million won.
Among JYP Entertainment artists, J.Y. Park earns 761.61 million won, non to mention that he received 400 million won in bonuses alone as a producer, which seems to have played a major role in successfully leading the company by producing albums of its idol groups TWICE and ITZY.
Also Read: Know The Richest K-pop Groups and Idols Based on Their Net Worth
Which Company is Better to Apply to in Terms of Average Annual Salary and Treatment Between SM and JYP?
SM Entertainment was officially established in 1995 and is a company with 27 years of experience this year. According to Job Korea, a job platform, SM's sales reached about 302.6 billion won last year. This is about 2162% compared to the industry average (about 14 billion won). It currently ranks second in the industry after HYBE.
On the other hand, JYP Entertainment was officially established in 1997, two years later than that, and this year marks its 25th year of business. It is not recorded in Job Korea, but according to NICE, the corporate information disclosure system, last year's sales were estimated at 144.4 billion won. Job Korea ranks JYP fifth in the industry.
Although SM is ahead in terms of performance, according to each company's business report, JYP's average annual salary and average annual salary per executive are 28.13 million won and 185.52 million won higher than SM, respectively.
If you will enter the company as an ordinary employee, the wage difference between the four companies was 10.25 million won for JYP, 12.24 million won for SM, 37 million won for YG, and 38 million won for HYBE.
Furthermore, the average number of years of service is about 4 years and 6 months for SM and about 3 years and 11 months for JYP, indicating that employees under SM work 7 months longer than the latter.
Read More: Earnings of the 'Big 4' Entertainment Agencies Expected to Grow from Second Quarter of 2021
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Written by Eunice Dawson
