Group 1 - The average salary of securities firms in the first half of 2025 exceeded 300,000 yuan, representing a nearly 30% increase from 237,400 yuan in the same period last year, marking the second highest level in nearly a decade, only behind 2021 [1] - Among the firms with outstanding salary performance this year, the proportion of leading securities firms is low, with smaller firms showing better compensation due to significant performance improvements [1] - Only two leading firms, Guotai Junan (422,200 yuan) and CITIC Securities (420,800 yuan), had average salaries exceeding 400,000 yuan, while other firms like Huabao Securities (506,900 yuan), Guokai Securities (413,400 yuan), and Ping An Securities (403,800 yuan) also performed well [1] Group 2 - The increase in securities firm salaries is primarily driven by a market recovery that has led to a surge in brokerage business commissions, with brokerage income nearly doubling year-on-year in the first half of the year [2] - Approximately half of the total workforce in securities firms consists of brokerage personnel, whose high elastic commission structure (with some smaller firms offering commission rates of 35%-40%) significantly boosts the average salary in the industry [2] - However, industry insiders believe that this salary fluctuation is highly cyclical and has limited sustainability [2]