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Finance, banking lead higher salaries
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THE finance and banking sectors in China’s tier-1 cities command an average 21 percent higher salaries compared with tier-2 cities, a survey showed yesterday.
Finance professionals in tier-1 cities earn an average monthly salary of 11,933 yuan (US$1,925), while those in tier-2 cities garnered 9,896 yuan.
The salary gap in the banking industry tops at 36 percent, followed by the fund and investment sector at 25 percent, and insurance at 5 percent.
“The compensation structure will be polarizing drastically in the future, especially in banking and securities firms,” said Evan Guo, chief executive officer of Zhaopin Ltd.
He said the continued opening-up of the market and the hunger for talent will drive the compensation package.
Banking was considered the most popular sector to move into, closely followed by the Internet finance.
The survey was jointly conducted by British recruiting company Hays Recruiting Co and local human resources service provider Zhaopin on 1,066 participants in nine Chinese cities between January and September.
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