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250 monthly salary? Does this broker issue sky-high year-end awards? Last year's eye-catching business, stock price rose 2.6 times

Time: January 9, 2020 10:23:18 China Finance Network
"99 Division" CITIC Securities to issue sky-high year-end awards?

The Spring Festival is approaching, the taste of the year is getting stronger, and some gossip ideas are rippling again. A few days ago, some media posted that the year-end awards of employees of CITIC Securities would be issued, and the interval was mostly between 85 months and 250 months. According to the median calculation, it was not difficult to get the 6 million year-end award.

In response to this rumor, a senior executive of CITIC Construction Investment Securities responded to a Chinese reporter of the securities firm that "the rumor was a show of favor and was clearly inconsistent with the facts. The original article was retracted after being questioned by our company because it was inconsistent with the facts."

Many insiders of CITIC Construction are also baffled by these rumors. "The time is wrong. We don't have a so-called year-end award at all. The bonus is issued in June and July of the following year." As for the specific award amount, there are disparities in different positions. Judging by rumors, there may be excessive exaggeration.

In addition, in 2016 and even earlier, there were exactly the same rumors circulating in the market. At this time, this "fake news" was spread again, or it was related to the excellent performance of CITIC Construction Investment Securities' investment banking business in 2019 and the company's stock price hitting record highs. .




The market is now rumored by CITIC Construction Investment's sky-high year-end awards. <br /> As the well-known "75 Division" and "99 Division" in the market, for many years, CITIC Construction Securities employees' annual awards are higher than 75% of their counterparts. The awards are extremely generous, jumping to 99 divisions in one fell swoop, and their salary and year-end awards are higher than 99% of their counterparts.

This is not the case. After the IPO year in 2019, the overall market situation has picked up, and the brokerage's year-end awards have become gossip. The focus is on the year-end award of CITIC Construction Investment . Recently, some media published a statement saying, "Now CITIC Construction Investment's year-end award is about to be issued. According to insiders, most of the year-end award range is concentrated between 85 months and 250 months, based on a median monthly salary of 40,000 * 150 months. There are not a few who have won more than 6 million year-end awards. "

The reporter asked the employees of the investment bank, brokerage and other departments of the securities firm for verification. After hearing them, they shouted, "Rumors!" "This is the year-end award of others." "Good hope is true." "Rumors for several years, It's still circulating. "

One reason that can prove that this rumor is distorted is that the year-end award of CITIC Securities is not issued at the end of the year, but in the middle of the following year. In the securities industry, some brokerage companies choose to release the previous year and deferred bonuses in June and July of each year.

Another reason why the rumors can not be credible is that as early as June 2016, the same rumors spread in the field, with the same content.

An executive at CITIC Securities told reporters that the rumor was a publicity and was clearly inconsistent with the facts. The source article was inconsistent with the facts and has been withdrawn after being questioned by our company.

What was the actual situation of the average salary of 390,000 employees in the previous year?
The deferred mechanism is commonly used for the compensation of employees in the securities industry, and CITIC Construction Investment is no exception. Some company employees revealed to reporters that the compensation of CITIC Construction Investment employees is divided into "incentive awards and loyalty awards". The incentive awards will be issued in the following year, about one-third or one-half of the year-end awards. The bonus won't be available until three years or more.

For example, the 2018 annual report of CITIC Construction Investment Securities shows that the company's chairman Wang Changqing received a pre-tax remuneration of 33.9390 million yuan, and also received a deferred remuneration of 4 million yuan in 2013.

In the securities industry, the bonuses received by employees in different business sectors will vary greatly. Generally speaking, investment banks are regarded as synonymous with financial elites, and everyone agrees that investment bank employees receive sky-high year-end awards. Many brokerage investment bankers said that it is normal for investment bank employees to receive millions of end-of-year awards during the IPO year. Since last year, the performance of CITIC Securities Investment Bank's investment bank has performed well, and the underwriting income has increased significantly compared with the previous year. It is believed that the year-end bonus of investment bank staff will increase significantly.

However, some employees said, "It depends on the company's annual performance. If the annual performance does not increase sharply, the overall salary and benefits of employees will not increase significantly."

When the listed securities company announced the 2018 annual report, the securities company China had calculated the various formulas in rough terms using the formula "Total wages and benefits of the current period = employee benefits payable at the end of the period-employee benefits payable at the beginning of the period + employees paid and cash paid for employees". The average salary of a brokerage employee. The average salary of employees of CITIC Construction Investment Securities in 2018 was 390,000 yuan, ranking ninth in the industry, a slight decrease from the average salary of 400,000 yuan in 2017. Whether the employees of each line are averaged is based on personal feelings.

The 2019 bonus period is for 2019. The Shanghai Composite Index rose from 2440 points to more than 3,000 points, during which the highest point reached 3288 points, an overall increase of 23.71% and an amplitude of 34%.

Among the three major A-share indexes, the Shenzhen Stock Exchange Index and the ChiNext Index are more bullish, with annual increases of 44.08% and 43.79%, respectively, ranking second and third among the major global stock indexes.

According to the data, in the whole year of 2019, 75.46% of the A-shares rose positively, and the median increase or decrease was 15.47%. In other words, more than 70% of the stocks have made money this year, and half of the stocks have risen more than 15%.

As the market improves, it can be predicted that brokerage business, credit business and even self-operated business will perform better than the previous year.

In terms of investment banking business, in 2019, the industry as a whole received 14.252 billion yuan in underwriting revenue, an increase of 70% from 8.33 billion yuan in 2018. Among them, CITIC Securities received a total of 1.144 billion yuan in underwriting revenue, ranking second in the industry, an increase of 50% from 742 million yuan in 2018. Among them, the starting income is more than 900 million yuan, ranking among the top three in the industry.

In addition, the stock price of CITIC Securities also rose in a controversial voice, with a year-on-year increase of 263%, reaching a high of 33.22 yuan, which also attracted much industry attention.

To sum up, the probability of the overall year-end bonus of the employees of CITIC Securities will be higher than that of the previous year, but the specific disclosure of the annual report shall prevail.
□. Zhang. Ting. Ting. Securities. Merchants. China.
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