Nikon management are getting a pay rise of up to 20% despite demand for cameras declining.
The Japanese Company said yesterday that they are set to increase the pay of high-skill employees and managers by up to 20%, starting in October.
Currently the business is making more money from health care than the sale of cameras.
According to Nikki Asia Nikon’s new program covers about 780 employees, ranging from section managers to executives and other key personnel working in global subsidiaries.
Starting next month, base salaries will rise by an average of 5% versus the previous year. Annual bonuses will go up by an average of 9%, but the difference in bonuses paid to the highest- and lowest-rated employees in the same position, based on company and individual performance, will expand from the 1.7 times at present to 2.8 times.
Under the new program, managers could get bonuses of over A$50K.
Base salaries for rank-and-file employees will be rise by an average of 3% and starting monthly salaries for new graduates will also increase.
The new pay scale comes as Nikon cultivates new businesses, such as outsourced production of cells for regenerative medicine. At the same time, the company is accelerating its shift away from earlier core businesses by discontinuing the development of single-lens reflex cameras, the market for which has been shrinking.