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On April 8, it was reported that annual salaries at publicly listed Chinese securities firms saw varied increases last year, with some industry players once again offering nine-figure compensation packages. Of the 29 Chinese brokerage firms that have disclosed their financial results for the previous year, 28 reported a year-over-year rise in average per capita salaries, contrasting with over 40 percent of firms that had reduced pay in 2024.
Citic Securities maintained its position as the top-paying Chinese securities company for the second consecutive year, with an average annual salary of approximately CNY812,800 (around USD119,085). The highest-paid employee at the firm earned CNY19 million (about USD2.8 million) last year, while four others earned between CNY9 million and CNY15 million (roughly USD1.3 million to USD2.2 million). These top five earners were employed by the company’s overseas subsidiaries.
Typically, nine-figure annual salaries are awarded to employees with specialized skills or those who deliver exceptional results on particular projects, according to Yu Fenghui, a senior researcher at Pangoal Institution. Nevertheless, he does not expect such high compensation levels to become a persistent trend over the long term.
Despite the positive trend in average salaries, executive pay continued its downward trajectory, albeit at a slower rate. Data from Wind Information indicated that total management compensation from these 29 listed brokers declined 6.3 percent last year, reaching CNY407 million (approximately USD59.6 million), after a 34 percent drop the previous year.
Qi Shi, chairman of East Money Information, emerged as the highest-paid industry executive, with an annual salary surpassing CNY4.9 million (roughly USD218,630). As competition within the industry intensifies, securities firms are increasingly focused on retaining and attracting talent, leading to improved compensation packages for lower- and mid-level employees, Yu explained. Meanwhile, executive salaries face mounting regulatory and public scrutiny, prompting many brokers to voluntarily reduce executive pay as a sign of improving corporate governance.
This polarization in compensation levels may reflect an industry effort to find a new equilibrium—addressing external concerns about pay scales in financial institutions while still providing appropriate incentives. Yu suggested that there are signs of a potential stabilization in executive compensation in the future, with a shift toward performance-based and long-term incentive schemes.
The resurgence in average salaries among Chinese securities companies is attributed to their improved operational performance last year. All of the 29 listed firms reported increased net profits in 2025, with eight generating profits exceeding CNY10 billion (approximately USD1.4 billion).
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