Xin Lang Cai Jing·2026-01-05 10:16Core Viewpoint - The recent salary distribution information for 2024 from China's five major state-owned banks shows an overall increase in average employee compensation, while executive salaries are constrained by strict salary limits, leading to a clear divergence in income trends between employees and executives [2][16]. Employee Compensation - All five major banks reported an increase in average annual employee salaries for 2024, with the following details: - Bank of Communications: Total salary of 286.85 billion RMB, 90,700 employees, average salary of 316,400 RMB, up 0.7% year-on-year - Bank of China: Total salary of 791.14 billion RMB, 311,300 employees, average salary of 254,100 RMB, up 2.3% - Agricultural Bank of China: Total salary of 1,078.95 billion RMB, 455,200 employees, average salary of 237,000 RMB, up 5.2% - China Construction Bank: Total salary of 882.76 billion RMB, 376,900 employees, average salary of 234,200 RMB, up 3.3% - Industrial and Commercial Bank of China: Total salary of 957.47 billion RMB, 413,800 employees, average salary of 231,400 RMB, up 2.4% [3][17]. - Bank of Communications leads with an average salary of 316,400 RMB, while Agricultural Bank has the highest growth rate of 5.2% [3][17]. Executive Compensation - In contrast to the moderate salary increases for employees, executive compensation is under strict constraints, with a notable trend where "business backbone" salaries exceed those of "administrative leaders." For example, in ICBC, the top three business directors earned: - Song Jianhua: 147.46 million RMB - Tian Fenglin: 146.70 million RMB - Xiong Yan: 132.37 million RMB - In comparison, the chairman and president earned significantly less: Liao Lin: 116.65 million RMB, Liu Jun: 77.87 million RMB [5][19]. - Overall, executive compensation across the five banks has decreased compared to 2023, reflecting a trend of "tightening budgets" in line with regulatory salary limits and the industry's focus on cost reduction and efficiency [5][19]. Revenue Generation - The increase in employee salaries is closely linked to their revenue-generating capabilities. The top three banks in terms of revenue per employee for 2024 are: - Bank of Communications: 2.7137 million RMB - Bank of China: 2.0146 million RMB - China Construction Bank: 1.9906 million RMB - The top three banks in terms of profit per employee are: - Bank of Communications: 979,400 RMB - China Construction Bank: 890,500 RMB - Industrial and Commercial Bank of China: 881,300 RMB [4][18].