Nan Fang Du Shi Bao·2025-09-07 23:17Core Viewpoint - The securities industry is experiencing significant salary growth in the first half of 2025, driven by market activity recovery and business structure optimization, with total compensation for listed brokers reaching 77.715 billion yuan, an 18.19% increase year-on-year [2][3]. Group 1: Salary Overview - Total compensation for 39 comparable listed brokers reached 77.715 billion yuan, up from 65.755 billion yuan in the same period of 2024, marking an 18.19% year-on-year increase [2]. - The average salary for the 42 listed brokers reached 317,600 yuan, reflecting a 25.58% year-on-year growth [2]. Group 2: Leading Firms in Compensation - Among the 39 comparable brokers, over 80% reported positive growth in total compensation, correlating with a general profit recovery in the industry, where net profits for listed brokers increased by over 20% year-on-year [3]. - CITIC Securities led the industry with a total compensation of 11.123 billion yuan, a 13.58% increase, supported by a large employee base of 26,100 [3]. - China International Capital Corporation and Huatai Securities followed with total compensations of 5.572 billion yuan and 5.137 billion yuan, showing year-on-year increases of 27.53% and 21.46%, respectively [3]. - The merged Guotai Junan and Haitong Securities saw a significant increase in total compensation to 8.805 billion yuan, up 118.29% due to a rise in employee numbers from 14,800 to 27,100 [3]. Group 3: Salary Declines - Six firms, including CITIC Construction Investment and Caifutong Securities, experienced declines in total compensation, with decreases ranging from 0.12% to 14.39% [4][5]. - The revenue of Caifutong Securities and Zhongyuan Securities declined, impacting their compensation levels [4]. Group 4: Average Salary Trends - Out of 39 comparable brokers, 34 achieved year-on-year growth in average salary, with only five firms reporting declines [6]. - CITIC Securities had the highest average salary at 426,400 yuan, a 13.4% increase, while Guoxin Securities saw the fastest growth rate at 54.41%, reaching 353,200 yuan [6]. Group 5: Industry Observations - The salary growth in the securities industry is closely linked to performance recovery and strategic business transformations, with brokerage net income rising by 75.93% year-on-year [7]. - Major firms are competing for talent in technology finance, with initiatives like AI training camps to enhance digital talent reserves [7]. - Despite the salary increases, there is a trend towards limiting executive compensation, reflecting broader industry concerns about cost management [7].