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92% of employees offered year-end bonuses in China: survey

2017-04-14  

Source:english.cctv.com

 

Of 5,184 employees surveyed, 92 percent said they received a year-end bonus for 2016, with 55.7 percent of them being offered over 10,000 yuan (USD 1,455), while 10 percent reported amounts of more than 50,000 yuan (USD 7,275).

 

The new survey was released by 51jingying.com, a job search website in China, reports Nanjing Morning Post.

 

Bonuses fluctuate depending on the economy and the year's performance. Given the performances of some industries last year, bonus amounts were not substantial for many workers.

 

"I received a 300 thousand yuan (USD 43,650) year-end bonus last year. As the market changed in 2016, this year's bonus might only be 120 thousand yuan (17,460), far less than that of last year." said a manager surnamed Sun, who has worked for 15 years in a securities company.

 

Many people in the banking sector reported reduced bonuses, or even no extra year-end cash. "In fact, two years ago, salaries for our bank staff, from leaders to clerks, began shrinking," said a department leader at a commercial bank in Nanjing, Jiangsu Province.

 

However, some internet companies offer substantial bonuses. Momo, a company that provides a free instant messaging service, gave each employee 25,000 yuan (USD 3,637) after its yearly meeting, but have apparently been told the money is not the final total for their year-end bonuses.

 

Further, general staff at Tencent will receive the equivalent of around 3 months' salary as their year-end bonuses, with four months for staff at Alibaba.

 

After receiving the year-end bonuses, many of those surveyed like to spend them on tours, while wealth management comes as the second choice, and buying a house is third, as Nanjing Morning Post reported.

 

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