China-Singapore Jingwei Client, August 6 (Luo Kun) In the recently hit TV series "Thirty Only", one of the heroines Wang Manni’s first blind date was MD (from the Investment Banking Department of Haishang Securities). The managing director is named Song Donghu. In the play, Song Donghu takes a blind date at a free investment bank lunch meeting, claiming that he can achieve an annual salary of 2 million with bonuses. So in real life, what is the salary level of financial people working in securities firms?
A-share listed securities merchants have an average salary of 470,000 yuan
Wind data shows that the per capita salary of 38 A-share listed securities companies is 465,700 yuan. Among them, the per capita salary of CITIC Securities ranked first, reaching 792 thousand yuan. In addition, 13 securities dealers including Huatai Securities and Haitong Securities have an average salary of more than 500,000 yuan. It is worth mentioning that the salary of CICC, which is listed on the Hong Kong stock market, is better than that of CITIC Securities, as high as 889,100 yuan.
However, the low-ranking small and medium-sized brokerage firms are not so "pulling hatred". Wind data shows that the per capita salary of Hualin Securities is 265,400 yuan, which is the last one among 39 securities firms.
Since the income of brokerage firms is closely linked to the stock market conditions, the salaries of brokerage employees will also fluctuate with changes in market conditions. In 2019, the securities market rebounded and the capital market deepened reforms began. The various business lines of securities firms also increased their income compared to 2018. Compared with the average salary of most securities firms in 2018, the per capita salary of most securities firms increased, and only a few securities firms such as Dongxing Securities declined slightly year-on-year.
Executive salary is as high as tens of millions
In addition to per capita salary, the salary level of executives is also the most concerned by the outside world.
Wind data shows that the top three executive salaries of 38 brokerage firms totaled 375 million yuan, which means that the average salary of these 117 executives reached 3,289,400 yuan.
As a large platform in the industry, CITIC Securities executives have substantial income. Wind data shows that Yang Bing, Gao Yuxiang, and Xue Jirui of CITIC Securities have an annual salary of more than 10 million yuan, and a total of 14 executives have an annual salary of more than 5 million yuan. Sino-Singapore Jingwei Client noticed that most of these 14 people are members of the Executive Committee.
It is understood that the executive committee is usually composed of persons with the qualifications of senior management personnel of securities companies, exercises the functions and powers of implementing the business policies and strategies determined by the board of directors, and drafting the company's annual financial budget and final accounts plan, and is responsible to the board of directors. From the perspective of CITIC Securities, the executive committee includes the chairman of the board, the general manager and the person in charge of each business line.
The executive salaries of some small and medium-sized brokerage firms appear more grounded. The top three executives in Southwest Securities have a total salary of 1.2372 million yuan, with an average salary of about 400,000 yuan, which is not as good as the per capita salary of the top brokerage firms.
It is worth mentioning that, as the helm, the chairman and general manager of major brokerage firms are often not the highest paid. The average salary of the chairman of the 38 listed securities firms was RMB 2.3379 million. Among them, the chairman of No.1 Venture had the highest income last year, reaching RMB 5.943 million. The salary of the chairman of 22 securities companies exceeded RMB 1 million. Compared with other executives, the salary of many brokerage chairman's appears to be a bit "shabby". The annual salary of the chairman of Southwest Securities is 372,900 yuan, and the salary of the employee supervisor who ranks first is 1,896,500 yuan. The annual salary of the chairman of Nanjing Securities in 2019 is 592,400 yuan, and the number one financial director is 917,500 yuan.
Income per capita was 1.56 million yuan
From the perspective of A shares, the average salary of the financial industry has always been in the forefront. At the same time, the per capita income of financial practitioners is also relatively high.
Wind data shows that the 38 listed securities merchants generated an income of 1.5562 million yuan, of which Orient Securities generated the most income per capita, reaching 3.308 million yuan, and Hualin Securities generated the least per capita income, only 763,300 yuan.
The 38 listed securities merchants each made a profit of 396,700 yuan, of which Huatai Securities had the highest per capita profit of 881,600 yuan, and Centaline Securities had the lowest per capita profit of only 20,500 yuan, while its per capita income was 836,800 yuan in the same period.
Since returning to A-shares in 2017, Zhongyuan Securities has repeatedly stepped on thunders, causing most of the profits to be swallowed, and thus the embarrassing situation of "generating revenue but not profit".
Pay-seeking incidents are endless
Despite the name of "golden collar", employees of brokerage firms often ask for salary.
In the first half of this year, the Judgment Document Network published a civil verdict that Fang Mou, the vice president of Yuansheng Securities, asked the company for salary after he resigned. What is striking is that Fang's salary request amounted to nearly 10 million yuan. During his tenure, his monthly salary was reduced from 300,000 yuan to 20,000 yuan. In the end, the court ruled that Minsheng Securities should pay Fang a salary of 975,900 yuan and a deferred part of the board of directors award fund of 3.253 million yuan and economic compensation.
According to incomplete statistics, there are currently more than 1,000 cases of disputes between brokers and employees disclosed on the Judgment Document Network. According to a reporter from China-Singapore Jingwei, many brokerage employees chose labor arbitration or took the company directly to court because of the deduction of year-end awards by their institutions.
Zhao Zhanzhu, deputy director of Beijing Zhilin Law Firm, told the Sino-Singapore Jingwei Client that whether workers can receive year-end bonuses after resignation mainly depends on the employer's regulations on the issuance of year-end bonuses. "If it is issued in accordance with the annual performance, and the employee has not completed the annual performance when he leaves the job, then he cannot be required to pay the year-end bonus; the year-end bonus of some units is agreed to have 13 salary and other bonuses by the end of the year. Linked to performance, then even if the employee leaves before the end of the year, the employer should issue the year-end bonus according to the percentage of the employee’s work time this year in the whole year."
Zhao Zhanzhi further pointed out that in addition to looking at how the performance appraisal system is specified, it should also be noted whether employees are aware of the relevant system and agree to sign for it. "The employer must formulate relevant regulations in advance through legal means, and let employees fully understand the contents of the regulations by signing or meeting notices." (Zhongxin Jingwei APP)
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