Fund groups sidelines afraid deed goes unpunished, March release, inline speculation, airtight blockade found traces of Shanghai financial practitioners annual salary survey.

        It is understood by the market, this year the company's year-end prize fund amounts paid beginning to return to reason, from the year-end awards have been issued fund companies statistical point of view, "six months salary" as the industry median level, but in 2008 the per capita annual industry revenue is still as high as 70 million.

But so far the majority of fund companies still choose to do anything, did not send the prize money, but wait and see other fund companies act. It is foreseeable that the fund industry in 2008 issued a red envelope peak will occur in March, April and quit leaving the peak will follow.

  

Survey year-end awards

In the first competitive talent for the fund industry, the major fund companies to measure a company's employees "considerate degree" of year-end awards have been paid not the slightest room for error, "too high and too low is not proper, it is kind of art . "the director of marketing such metaphor.

Once a fund's year-end awards granted too many or too few, resulting knock-on effect is obvious: the bank posting a half hours, the specific amount can be spread to Shanghai Lujiazui counterparts; After one hour, the message entrusted with Shanghai fund industry sentiment index by msn north to Beijing, south to Shenzhen; three hours after the news reporters started writing sensitive sectors, has risen to the image of the industry at this time, the next day is likely to become the country known secret.

But the speed of the fund company executives are most worried about is not the messaging, but the accuracy of the amount, in the process of ring legend, figures necessarily high-end awards will be hugely magnified, while the low-end gold will artificially continue to shrink. As a theoretical confidential, the company is also impossible to come forward to clarify, "can only eat Yaba Kui."

The following is a part of the fund industry's year-end awards so far heard of digital financial weekly newspaper reporter gathered, does not guarantee complete accuracy of the figures, but the more you ask basically consistent with the facts.

Messages collected by far the largest party is a bank-based fund company, the fund company last year under the concerted efforts of employees, significantly enhance the status of the industry, the boss to 20 months of the year award to be rewarded. In addition, Shanghai is a well-known joint venture fund company last year, although performance is not outstanding, but also higher than the year-end red 12 months, on the grounds that "Our employees usually not high wages in the industry."

The Shanghai the most senior of the three fund companies are very different fate, which awards an amount paid in the 2007 year-end strong bull market levels; another optimal performance while those low-key hit 7 fold; industry and there were rumors of a company is consider spending cuts, wage cuts and other programs.

Tragic fund company far more than this one, Shanghai has an ideal size of a fund company performance neither publicly declared no end awards this year.

But not fat may not be the most miserable, bizarre is that Shanghai is also a handful of mini-fund companies disguised pay 20% to 30%. Taking a joint venture fund company, for example, at the beginning when the company signed a work contract with employees, joined the following terms: monthly payment contract, 70 percent of wages until the end of the year to complete performance index, the remaining 30% portion of the payment.

But in the face of last year's bizarre bear market, in the end to get the remaining 30 percent performance pay has seemed a fantasy. "Do not like the kind of market last year, even in normal years, the company developed performance indicators to achieve the impossible and also." The employees complained to reporters.

While another part of the joint venture fund company is only at the end of last year, according to the practice of issuing a double pay, "We have contentment." Company employees have no complaints, but in the year before the bull market, this understanding does not exist. At that time the joint venture fund company although there is no obligation to release year-end awards, but under industry pressure or a large amount of money sent out red envelopes.

 
2008 fixed salary go up more than one percent

Changes in salary payment amount is expected to exceed 50 percent of total compensation in 2007

Before talking about the fund's salary in 2008, the financial weekly survey to pay for your mutual fund data in 2006 and 2007 (all tax data, the same below).

Through direct or indirect financial weekly interviews with dozens of fund companies and related human resource consulting agency found that in 2007 the fund's fixed salary of 320,000 yuan per capita, an increase of 18.5% over 2006's 270,000 yuan; capita variable pay (including year-end awards) to 520,000 yuan, 3.2 times that in 2006; welfare of more than 80,000 yuan per capita, compared with 2006 is greatly increased over 80%.

Data show that in 2007 more than 30 fund companies above average total compensation (fixed + change + benefits) of up to 920,000 yuan. Money Weekly informed that such data can represent the whole industry has been basically flat quasi-standard.

It is to show off the high salaries in the back, mutual funds, also surrendered stunning 2007 financial answer.

Among them, in 2007 the per capita revenue of nearly 7.5 million yuan, 4.5 times that in 2006; 52% pre-tax profit margin was 26% in 2006 twice; capita profit is hit a more than 4 million yuan astronomical , while in 2006 only about 60 million.

Revenue from payroll accounting ratio, 2007 was 13%, significantly lower than the 2006 figure of nearly 30%.

A copy of the data from the Shanghai fund industry salary survey shows industry in 2007 grew by 28.9% of fixed salary compared with 2006, an increase of approximately 98.2% variable pay. The first half of 2008 total cash compensation fund industry grew by 57.1 percent compared to last year, the industry average salary (including executives) reached 677,000 yuan / year.

This is only relevant data Shanghai fund industry, a fund industry payroll appraisers told financial weekly newspaper reporter:. "A salary survey results for the industry nationwide fund companies showed average salary is more than 700,000 yuan."

In China 60 fund companies calculate an average of 150 people, nearly 10,000 industry professionals sharing a total of 7 billion yuan of salary.

According to the China Galaxy Securities Research Fund, as of December 31, 2008, 60 fund management companies Total net assets of the Fund 1.88646 trillion yuan, with an average 1.2% management fee revenue is calculated to obtain income 22.637 billion yuan, labor costs a third of which account.

To some extent, these mutual fund data for the high salaries to make a good footnote. And when the light enters 2008, although the long bear market value of the fund's loss greatly, but the average AUM and 2007 considerably, from 19 billion yuan in the first half of 2008 the management fee income of 1.89 trillion yuan, the 2008 annual fund management fee income is still about 30 billion yuan.

Therefore bear the company's compensation fund did not change the upward trend, just changed expectations.

Money Weekly informed that although the fund company's financial performance in 2008 is still satisfactory, but much lower than expected (no one anticipated the way the bear market), combined with over-expansion, and therefore changes in remuneration than expected in early 2008 dropped four percent.

Of course, this does not change the fund company employees in 2008 rose overall revenue.

Weekly financial extensive investigation was informed that the salary structure of mutual funds, the 2008 per capita remains fixed salary increase of about 12 percent, of which, investment research team with more than 15% of the gains among the highest executives only 11% ranked lowest.

This actually means that in 2008 the fund's fixed salary of 358,000 yuan per capita.

Changes in remuneration, including year-end awards, including fund companies, although ambiguous statement, but its growth momentum has not changed. Informed financial weekly survey, most fund companies are still expected to be paid more than 50% of the total annual salary in 2007 as a change in salary in 2008. This means there will be more than 420,000 yuan = average variable pay (32 + 52) / 2. In case not covered by welfare in 2008, the fund company 8000 employees (60 fund companies, with an average 140 employees) will receive nearly 80 million pre-tax per capita total compensation.

For this figure, the fund company executives have expressed to the financial weekly three points: First, the above-mentioned pre-tax salary only pay tax if you consider all the factors and welfare factors, the amount of its real real hair is not much, issuing into the hands of ordinary people will only less; Second, the above total remuneration structure, there are a number of changes in the fund's remuneration is not paid, or are currently issued only ordinary employees, executives did not release year-end awards, still here there are some variables; Third, the fund company employees working under tremendous pressure and stress, although the market systemic risk due to institutional reasons not to resist, but should get a high salary as compensation.

 

2009 per capita cash compensation fund industry back to between 2006 to 2007

Many fund executives generally said that in 2009 the fund industry will usher in the most difficult year, in addition to the management fee income decreased risk of outside fund companies had to pay the price for the past few years of crazy expansion.

China as an emerging industry, the financial sector, the size of the fund industry before 2009 have been showing explosive growth. Related statistics show that from 2006 to 2008 data analysis, the size of the fund's staff has remained at about 20% of the growth in the average size of the current fund the company's 140 people.

Shanghai, a governmental nature of the human resources consulting company expects: "In 2009, the fund company will basically freeze new recruitment program, although freeze recruitment plan, but the possibility of structural fund industry layoffs is very small, and personnel and structural adjustment. Natural layoffs will be more widespread. "

"For now, the first half of 2009 the fund industry turnover will continue to remain low, but at the same time, due to layoffs, the proportion of non-personnel restructuring as a result of voluntary turnover but on the rise." The people believe that "2009 levels of per capita cash compensation fund industry will return to between 2006 to 2007. "