【文/羽扇观金工作室】 2023年，王锡峰的税前薪酬为187.26万元，同样位居A股农商行榜首。在行业整体"降薪潮"的背景下，青农商行董事长薪酬逆势上涨，引发了外界对其薪酬 机制合理性的质疑。青农商行回应称，董事及高管薪酬按照相关薪酬管理规定执行，并履行公司治理程序，涵盖了激励约束有关内容，且2024年该行在青岛 市属企业考核中位列优秀等次。 本文系观察者网独家稿件，未经授权，不得转载。 营收下滑的同时，青农商行的分红策略也引发了股东质疑。8月19日晚间，青农商行发布公告称，收到同发裕（深圳）投资有限责任公司提交的《关于连续 三年实施三季报现金分红的临时议案》，该议案要求青农商行在2025年至2027年三个会计年度连续分红，且比例不低于三季度净利润的30%。 然而，青农商行董事会审议通过了《关于股东临时提案不予提交股东大会审议的议案》，理由是提案内容违反了相关规定。此外，青农商行计划2025年半年 度不派发现金红利，不送红股，不以公积金转增股本。 Wind数据显示，自上市以来青农商行累计现金分红6次，平均分红率20.23%，但近年来该行分红比例整体有所下滑，且低于A股上市银行平均水平。青农商 行在回应相关问题 ...

Core Insights - The overall salary level in the VC/PE industry continues to decline in 2024, with the median annual salary for front-line investment managers dropping to 300,000 yuan [2][3] - There is an increasing disparity in salary levels among different types of institutions, with first-tier investment firms maintaining higher base salaries but experiencing significant reductions in bonuses [2][3] - The decline in salaries is attributed to a lack of new capital entering the market, leading to difficulties in fundraising and poor performance of existing funds [3][7] Salary Trends - The salary reduction trend has intensified since 2023, with base salaries being cut significantly, and some institutions reporting reductions of nearly 50% in bonuses [3][8] - Many institutions have implemented cost-cutting measures, including layoffs and salary reductions, with some firms reporting a 20% annual reduction in staff [3][4] - National state-owned enterprises (SOEs) are also facing salary cuts and restructuring, with some investment departments being entirely dissolved due to poor past performance [4][6] Employment Shifts - Investment professionals are increasingly transitioning to other roles or industries due to the challenging market conditions, with some taking on side jobs or moving to operational roles within their firms [7][8] - The perception of SOEs as stable employment options has changed, with many professionals experiencing layoffs or significant changes in job responsibilities [4][5][6] - The implementation of a "last place elimination" policy in some SOEs has further intensified job insecurity among investment professionals [6] Market Outlook - The investment community has adjusted its expectations, with many professionals now viewing any positive returns as a significant achievement, moving away from unrealistic high-return narratives [8] - The current investment landscape is characterized by a focus on hard technology, requiring patience and a longer investment horizon for returns [8] - The cyclical nature of the market has led to a recognition that personal development and skill enhancement are crucial for navigating the current challenges [8]

Core Insights - The total compensation for executives in five A-share listed insurance companies has decreased for six consecutive years, with a nearly 12% year-on-year decline in 2024 [1][3] - There is a notable divergence in the compensation trends among leading insurance companies, with New China Life Insurance seeing a significant increase in executive compensation, while others like China Pacific Insurance and China Life Insurance experienced varying degrees of decline [1][3] Summary by Category Executive Compensation Trends - The total compensation for executives in New China Life Insurance rose by 27.9% to 1681.4 million yuan in 2024, while China Pacific Insurance saw the largest drop of 35.85%, with total compensation falling to 2280.7 million yuan [2][3][6] - The proportion of executives earning less than 500,000 yuan increased, with 33.33% of executives earning below this threshold in 2024, up 2.42 percentage points from 2023 [3] Market and Regulatory Influences - The decline in executive compensation is attributed to regulatory controls on short-term incentives and a proactive approach by insurance companies to manage future risks [3][4] - The insurance industry is shifting towards compressing short-term incentives and implementing mechanisms like deferred payments and clawbacks to align executive compensation with long-term risk management [7][8] Performance Metrics - Despite a 77.7% year-on-year increase in net profit for the five major insurance companies, executive compensation has not rebounded, indicating a complex interplay between regulatory guidance and market-driven incentives [7] - The regulatory framework encourages a balance between short-term and long-term performance metrics, aiming to foster sustainable growth within the insurance sector [8]