China Merchants Bank’s salary per employee exceeds 500,000 yuan in 2020.
Twenty-one listed banks on the mainland have already released their 2020 annual reports, in which bank staff salaries and executive compensation show that the per capita annual salaries of China Merchants Bank, Zheshang Bank and CITIC Bank exceed 500,000 yuan (RMB, the same below), the news sparked hot debate among netizens.
According to the China Securities Journal on April 4, 21 of the 38 banks listed on the mainland’s A-share market have now released their 2020 annual reports, which disclose the salaries of employees and executives.
The data show that in terms of per capita annual salary, China Merchants Bank, Zheshang Bank and CITIC Bank ranked the top three, all exceeding 500,000 yuan, at 526,600 yuan, 512,400 yuan and 504,100 yuan respectively; CCB, Bank of China, ICBC and Changshu Bank ranked the bottom, with per capita not exceeding 300,000 yuan. In terms of executive compensation, Ping An Bank, China Merchants Bank and Minsheng Bank ranked high, with the president’s salary exceeding 4 million yuan.
From the viewpoint of salary changes, Everbright Bank, Changshu Bank and Industrial Bank’s per capita salaries have increased by more than 5%, and the direction of change is highly relevant to bank performance.
For the bank employees’ annual salary is too high, netizens have expressed their opinions.
Netizen “dream fly”: “Now the bank efficiency is so low, why can still earn so much money, I have been confused.”
There are also netizens who doubt that employees can get so much salary and think it is “being average”. Netizen “Pan rong” said: “This is not the real situation of the grassroots.” “Which of you working in the bank in addition to executives get so much money, please sunshine your personal tax app.”
“Refining a pill peach blossom source”: “In a word: again by the average!!! My husband ICBC eighteen line small city middle, busy as hell, every day seven o’clock to go to work, about seven o’clock in the evening to get off work, a year down to get a hand on the top of about 11-12 million. And the system and dozens of kilometers away from the provincial capital are not the same, weekend holidays are not closed for vacation.”
Previously, CIMB’s annual report showed a monthly salary of nearly 100,000 yuan per employee in 2020. After this news was announced, the official coal wrote an article slamming CIMB.
CIMB’s annual report shows that in 2020, CIMB pays its employees a total annual compensation of $10.831 billion (calculation: $7.724 billion in cash paid to and for employees + $8.587 billion in payables at the end of the period – $5.480 billion in payables at the beginning of the period). Based on the total number of employees of 9,372 as of the end of 2020, the annual salary per capita of CIMB is 1,155,700 yuan, averaging to 12 months, each employee’s monthly salary is nearly 100,000 yuan.
In response, China Economic Network published an article signed by Han Yijia on April 2, saying, “Employee interests and shareholder interests are often the two ends of the scale for companies, and it is important to balance them. But it cannot be done in a way that is excessively detrimental to one side in order to achieve an arbitrary tilt to the other side!” “(Excessive remuneration) is not only detrimental to the long-term development of CICC, but also undermines social justice!”
In this regard, Shanghai netizen “was asked the road of the villagers A” said: “Centrin is indeed a bad reputation, but the people underneath is also the average, not so high. At most and the big bank store manager about it, really say the big head or those executives take.”
Guang Dongfang Daily people “2014 is crazy” said: “money is worthless, the most profitable natural is the money company, no problem.”
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