[Cai Zhi Headline] 25.68 million employee sample analysis: 4 years of salary of employees in the securities industry for 1 year

At the end of July, a family member of a trader at CICC disclosed the income certificate of his husband that the employee's average monthly income of 82,500 yuan has aroused widespread concern in society.

In fact, the employee's income was less than the average level. In 2021, the per capita salary of CICC reached 980,000 yuan, and in 2020 or even 1.16 million yuan.

After the "wage" incident of CICC traders, on August 2, the Ministry of Finance issued the "Notice on Further Strengthening the Financial Management of State -owned Financial Enterprises [2022] No. 87" (hereinafter referred to as "Notice"). The "Notice" is implemented from the date of issuance.

Source: official website of the Ministry of Finance

The "Notice" requires that financial enterprises should reasonably control the difference in job distribution, fully mobilize the enthusiasm of front -line employees and grass -roots employees, effectively balance the income distribution relationship of leadership teams, middle -level cadres and grassroots employees. If the average salary of employees in the job, the total annual salary of the year should be further increased to the tilt of front -line employees and grass -roots employees.

Financial enterprises should seriously distribute discipline, strictly clean up and standardize external income, and incorporate all salary income into total salary management. Financial enterprises shall formulate a performance salary recovery and deduction system. If the executives or employees do not work hard and cause major risk losses, the financial enterprise shall recover the part or all of the performance salary that has been issued within the corresponding period, and will not pay the non -payment. Part or all salary.

In fact, the financial industry has always been called the "multi -gold industry". In the annual average salary ranking announced by the country, the financial industry's salary has never fallen out of the top three.

In such a social atmosphere, the notification of the Ministry of Finance was widely interpreted as a "salary limit order" for the financial industry.

The compensation of the financial industry has become the focus of attention.

Employees of securities industry employees for 1 year of salary and manufacturing employees for 4 years

How much is the annual salary gap between the manufacturing and financial industry employees?

"China Economic Weekly" counts the salary of 3797 listed companies in the financial industry, manufacturing, and other industries. It is found that the average annual salary of the financial industry employees is 2.35 times that of the manufacturing industry and 1.69 times that of other industries.

Among them, the salary of the securities industry is at the peak position of the financial industry. The average annual salary of employees in the industry during the same period is 3.76 times that of the manufacturing industry and 2.71 times of other industries.

Source: China Economic Weekly

The financial industry refers to the banking industry and the insurance industry. In addition to the industrial economic behavior, the others are related to the financial industry. It includes the banking, insurance, trust industry, securities industry and rental industry.

The manufacturing industry refers to the use of resources in the mechanical industry (materials, energy, equipment, tools, funds, technology, information and manpower, etc.). According to market requirements, through the manufacturing process, it is transformed into large tools, industrial products and industrial products and industrial products that can be used by people. Industry of consumer products. The manufacturing industry directly reflects the productivity level of a country. It is an important factor that distinguishes developing countries and developed countries. The manufacturing industry occupies an important share in the national economy of developed countries.

Other industries are pivotal listed companies outside the two.

Statistics are as follows

According to the statistics of the China Economic Weekly, in 2021, the number of employees of manufacturing, other industries and financial industry listed companies each each with a total of 12.36 million, 9.939 million, and 3.39 million, totaling 25.68 million people.

According to the asset -liability statement and cash flow statement of listed companies, calculate the total salary paid for employees each year for employees each year. Compared with the number of employees, it can calculate the average annual value. This average includes basic wages, bonuses, allowances, subsidies, subsidies, employee benefits and various insurance premiums, provident funds, annuities, and compensation from the company in other forms. Under normal circumstances, this data is higher than the hand -to -hand salary of employees.

From the perspective of statistical results, the annual salary of employees in the financial industry is leading.

The average annual salary of the financial industry, other industries and manufacturing industries in the statistical interval was 330,400 yuan, 195,200 yuan, and 140,500 yuan, respectively. In the three types of industries, the financial industry is headed and the manufacturing industry is the bottom.

In the financial industry, the salary of employees in the securities industry ranks first.

In the statistics area, the annual average salary of employees in the securities industry is 528,700 yuan, which is 1.6 times the average of the financial industry, 2.7 times of other industries, and 3.76 times the manufacturing industry. It can be said that the salary of employees in the securities industry for one year, employees in other industries take about 3 years and manufacturing employees take about 4 years to earn.

Employees in the securities industry will increase GDP

Compared with the average salary of 2021 in 2018, the average salary of the financial, other industries and manufacturing industries increased by 23.4%, 22.4%, and 22%, respectively. The financial industry has increased and the manufacturing industry is at the bottom. During the statistics range, GDPs across the country increased by 23.41%. Among the three types of industries, the growth of compensation in the financial industry was closest to GDP. During the same period, the average salary of employees in the securities industry rose 42%, and about 18 percentage points were won.

In 2021, the three companies with average average salary of people in 2021 are CICC (601995.SH), Western Securities (002673.SZ) and CITIC Securities (600030.SH). 10,000 yuan and 853,400 yuan.

CICC is the head of the brokerage industry. In the A -share market, the A -share IPO project and re -financing projects completed by the main underwriter in 2021 ranked second in the market; As the book manager's owner underwritten the scale of Hong Kong stocks, all ranked first in the market; as the sponsor's main underwriting Hong Kong stock scale ranked second in the market. Compared with 2020, the average salary of CICC employees fell from 1.1557 million yuan to 984,500 yuan. During the same period, the number of employees of the company increased by 45%, operating income increased by 27%, and the total salary of employees increased by 23%. The increase in total salary is lower than the number of employees increase, and the per capita salary shows a decline.

CITIC Securities is also the same in the A -share market. In 2021, the main underwriting market share in the A -share market is 18%, the first market is the first; the company has completed the market share of the main underwriting project of the re -financing, ranking first in the market; First; Hong Kong market equity financing business ranking Chinese Securities Company second.

Is salary a major business expenditure of securities and banking industry?

On May 13th, the Securities Industry Association issued the "Guidelines for Establishing a Salvation Salary System for Securities Company", requiring securities firms to implement the concept of stable business, ensure the requirements of the bottom line of compliance, promote the formation of positive incentives, and "compliance, integrity, professionalism, stable" The cultural concept is incorporated into the management of salary, and the talent training mechanism and incentive mechanism that focuses on long -term development.

A research report of Tianfeng Securities stated that the securities industry is a talent -intensive industry with high per capita salary and is the largest source of operating expenses. The report estimates that assuming the salary decreases by 15%, the net asset yield of listed brokers in 2021 will increase from 9.5%to 10.7%.

Taking 2021 as an example, in other industries, employees' salary accounted for 7.21%of operating income, 8.71%of the manufacturing industry, and 13.19%in the financial industry, that is, the financial industry with the highest salary income ratio.

The financial industry is the first to live in the securities industry. The salary of employees in the two industries of securities and banks accounted for 27.24%and 15.97%, respectively, higher than that of the financial industry as a whole, and higher than the manufacturing and other industries.

The "Notice on Further Strengthening the Financial Management of State -owned Financial Enterprises" issued by the Ministry of Finance on August 3 states that this notice is applicable to wholly state -owned and state -owned controlling financial enterprises (including state -owned actual control financial enterprises).

In the financial industry, especially among securities listed companies, it is mainly state -owned enterprises, of which 32 are central state -owned enterprises or local state -owned enterprises. China Galaxy, Shenwan Hongyuan and CICC are central state -owned enterprises; CITIC Securities, Haitong Securities, and Guotai Junan are local state -owned enterprises.

A total of 19 state -owned enterprises with a total salary of more than 15 million yuan (per person per average of more than 5 million yuan) with an annual salary of the top 3 salary in 2021, 6 of which are the securities listed companies; the top three executives in the salary are ranked There were 12 brokers with an annual salary of more than 10 million yuan, and there were 12 in 2021.

Source: China Economic Weekly

On July 14, 2021, the Securities Industry Association released the results of the 2020 securities company's cultural construction practice evaluation results. Based on the results, it is divided into 12 categories and 22 categories. The remaining C type is "cultural construction at a general level at the industry". Class D vouchers are "major problems or defects in cultural construction work."

According to reports, some of the brokers who have been selected for Class A and B, including the excessive salary incentive, and the salary plan of senior management personnel are obviously unreasonable. The so -called "obvious unreasonable" means that the average salary increase of the company's senior managers is higher than that of operating income or net profit increase of more than 30 percentage points, and there is no reasonable explanation.

Securities practitioners increase again

According to the recently released "China Securities Industry Development Report (2022)", China Securities Association shows that in 2021, the size of the securities company's assets has further expanded, the comprehensive strength and operating efficiency have been steadily improved. Investment banks' efficiency, further enhanced the real economy function of the real economy; deepening wealth management transformation, and maintaining high growth in financial product sales.

According to reports, the securities industry employees continued to grow. As of the end of 2021, the number of employees registered by the securities industry was 359,800, an increase of 3.75%year -on -year, and the increase in compliance and risk control personnel was around 8%. In terms of the age composition of employees, mature talents with rich experience in the age of 36 accounted for 41.68%, and the proportion of master's degree or above increased to 33.43%.

The data also shows that in 2021, securities companies helped domestic listed companies to achieve IPOs and reinstate financing funds of more than 1.49 trillion yuan, an increase of 18.71%year -on -year, and securities companies underwritten of 15.23 trillion yuan, an increase of 12.53%year -on -year.

With the deepening of wealth management transformation, the sales of financial products of securities companies have maintained high growth. The net income of the industry agency sales of financial products throughout the year was 20.69 billion yuan, an increase of 53.96%year -on -year, accounting for further increase in the proportion of brokerage business income; The company's layout has a scale of 3.65 trillion yuan, an increase of 75%over the previous year. The social wealth management attributes of the asset management business of securities companies have been further strengthened.

In addition, the securities company also accelerates digital transformation and will gradually expand the transformation focus from the securities brokerage business to the entire business field. In 2021, the total investment of the securities company's IT investment was 30.355 billion yuan, an increase of 26.51%year -on -year. %; Continue to promote the strategic layout of the internationalization, and further deepen the development of the cross -border business of securities companies, and the ability to serve the new development pattern of "dual -cycle" has increased significantly. As of the end of 2021, a total of 35 securities business institutions set up subsidiaries abroad. The development of securities firms presents ten major characteristics

The "Report" explains the top ten characteristics and trends of the development of the securities industry, including: the effectiveness of investment banks has been played, and the service of the real economy has been further enhanced; Continue to accelerate; the construction of risk management system continues to deepen; the construction of industry cultural construction continues to advance; the industry continues to serve rural revitalization and fulfill social responsibility; investors' protection continues to strengthen; digital transformation has accelerated; the international strategic layout continues to advance, and interconnection will further promote securities companies Cross -border business development has been significantly enhanced by serving the new development pattern of "dual -cycle"; industry employees have continued to grow.

(WeChat public account "Caizhi Headline" comprehensive from: China Economic Weekly, Surging News, Securities Daily, etc.)

Edit: Yuan Kai

School pair: Fenghua

Review: Gong Zimo

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