Business Executives Report Pay Rises in 2001: Survey

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Last updated at: (Beijing Time) Tuesday, January 22, 2002

Business Executives Report Pay Rises in 2001: Survey

A survey shows the overall standard of incomes and extra benefits for Chinese business executives rose in 2001. Many of the executives surveyed believe that a business with a combination of a strong development potential, employer trust and appreciation and outstanding personal performances will pay a high income.

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High income

The overall standard of incomes and extra benefits for Chinese business executives rose in 2001 and most managers were more satisfied with their level of income compared with the previous year, despite the impact of the world economic downturn in some industries.

A recent survey of business executives in Beijing, Shanghai, Guangzhou and Shenzhen shows 49.7 percent of managers reported an increase in their income last year, while only 6 percent reported a decline, Tuesday's China Youth Daily reported.

According to the survey, Beijing business executives have the highest incomes in China with an average annual income of 90,900 yuan (10,951.80 U.S. dollars), closely followed by Shanghai executives who make 90,700 yuan, while those in Shenzhen and Guangzhou are making 87,500 yuan and 84,200 yuan respectively.

Great potentials

Many of the executives surveyed believe that a business with a combination of a strong development potential, employer trust and appreciation and outstanding personal performances will pay a high income.

The survey also found that the "sign on bonus" has emerged as a new incentive used by some businesses, particularly overseas-invested businesses, to attract high performing executives from their rivals.

Gender discrimination has long been a sensitive issue in income levels. The recent survey, however, shows female business executives have reported even more frequent pay rises than their male counterparts and the income gap is narrowing between male and female executives.

Most of the executives surveyed said training opportunities are a key factor in encouraging them to stay with their current employers.

The survey also found that many businesses plan to join with insurance services providers in 2002 to tailor more personalized compensation and benefits programs for their employees.

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