sharon sanders
Editor-in-Chief & President
Generous payouts trigger shopping spree, a sign of economic recovery
As a sign of recovery from the financial crisis, more than 50 percent of companies in Beijing this year have given year-end bonuses to their employees. This is a 10 percent jump from last year.
The number of companies handing out year-end bonuses in 2010 has returned to 2007 levels, one year before the financial crisis, according to job agency Zhaopin.com.
"This is because the economy has recovered and business grew in 2009," said Zhao Lipeng, senior payment consultant with Zhaopin.com, which released a survey on year-end bonuses in 2010.
Zhao said companies in the banking, real estate and automobile industries displayed the most significant change in their annual bonuses because they were hardest hit by the financial crisis in 2008.
"The biggest bonus in the banking sector could be millions of yuan. Bonuses for these three industries could be twice the average," Zhao said.
The average bonus of most employees in Beijing this year was 4,800 yuan, with managers pocketing more than 10,000 yuan, Zhao said.
A securities company employee surnamed Li, 26, said he received about 600,000 yuan in January, much more than last year.
more....
http://www.chinadaily.com.cn/metro/2010-02/10/content_9454996.htm
As a sign of recovery from the financial crisis, more than 50 percent of companies in Beijing this year have given year-end bonuses to their employees. This is a 10 percent jump from last year.
The number of companies handing out year-end bonuses in 2010 has returned to 2007 levels, one year before the financial crisis, according to job agency Zhaopin.com.
"This is because the economy has recovered and business grew in 2009," said Zhao Lipeng, senior payment consultant with Zhaopin.com, which released a survey on year-end bonuses in 2010.
Zhao said companies in the banking, real estate and automobile industries displayed the most significant change in their annual bonuses because they were hardest hit by the financial crisis in 2008.
"The biggest bonus in the banking sector could be millions of yuan. Bonuses for these three industries could be twice the average," Zhao said.
The average bonus of most employees in Beijing this year was 4,800 yuan, with managers pocketing more than 10,000 yuan, Zhao said.
A securities company employee surnamed Li, 26, said he received about 600,000 yuan in January, much more than last year.
more....
http://www.chinadaily.com.cn/metro/2010-02/10/content_9454996.htm