As many game companies around the world continue to cut jobs, Capcom has announced its decision to raise salaries for its Japanese employees. The move will impact both current workers and new graduate hires.
According to a press release, Capcom will raise salaries for all its current employees by over 5% on average in FY24 starting April 1, 2024. They will also receive a one-time special payment as an “investment in the people who support the future of the company.”
When it comes to new graduate hires, their starting monthly salary will increase by 27.6% — from ¥235,000 ($1,569) to ¥300,000 ($2,003). The changes will come into effect in FY25, which runs from April 1, 2025 to March 31, 2026.
The last time Capcom raised salaries for its Japanese workers was in April 2022, increasing base pay by 30% and introducing a bonus system linked to its business performance. This is part of the company’s HR investment strategy aimed at improving “its corporate value and establishing a relationship of trust with employees and stakeholders.”
According to Capcom’s HR report, the average annual salary across the company has increased from ¥5.88 million ($39.3k) in FY19 to ¥7.66 million ($51.1k) in FY23. The publisher also hires about 150 graduates every year, and the average age of its employees is 37.6 years old.
Despite the positive news from Capcom, many game companies — from AAA publishers to small indie studios — are now cutting costs, affecting thousands of game developers around the world. Roughly 8,000 games industry professionals have already lost their jobs in the first two months of 2024, with over 2,000 layoffs in February alone.