Car Buyers Give Japanese Auto Workers a Raise

"Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., Japan's three biggest automakers, agreed to pay higher bonuses and raise average base salaries next business year as the companies forecast record sales."

Toyota will give raises of 1000 yen a month to 350,580 yen.

Nissan will give raises of 6,700 yen a month to 355,400 yen.

Honda will give raises of 900 yen a month.

All three companies also gave increases in annual bonuses – Toyota will give a 2.58 million yen bonus, Nissan, 2.13 million, and Honda's bonus will be 6.6 times the monthly salary.

What that means is…we, the car buyers have given these autoworkers a raise. We will see it on the car lots reflected in the sticker prices.

Still, Japanese carmakers are taking care of the employees when American carmakers, GM, and Ford are firing workers to cut losses.

So, how much do Japanese autoworkers make annually? Have you done the math?

Answer: Depending on the yen rate, Toyota's workers bring home around $58k in salary and bonuses.