[Bank Job Hunting] Exposed Results of the Survey on Salary, Comfort Level, and Development Prospects of Major Banks in China
1. Head Office vs Branch Office:
Choosing between a branch office or head office has always been a crucial concern when selecting job offers. In fact, choosing between the head office and a branch office requires specific analysis based on individual situations. Generally speaking, in terms of income, benefits, work environment, and promotion opportunities, the head office usually has an advantage. However, there are cases where good branches offer better treatment than the head office. Therefore, it all depends on personal choices.
2. The People's Bank of China (PBOC):
Salary and Benefits:
New employees earn around 2,500-2,600 RMB per month (excluding other small benefits). During festivals, there are some small bonuses issued. Another part of the salary is confidential to maintain mystery, but the first part constitutes the majority. For new employees, they receive slightly over 1,000 RMB per month with no festival bonuses. After becoming permanent employees, their salaries increase by only 600-700 RMB. Every year, the salary increases significantly - an extra 30 RMB per month, which might be the most concerning point for many. Although I cannot elaborate here, let me tell you that the PBOC offers above-average treatment in its location city. The less developed the area, the more obvious the PBOC's advantages become. The PBOC also provides excellent welfare guarantees, with relatively high housing fund contributions (how many banks can match this?). When promoted to the position of Director-level officer, there will be a certain change in salary. At the PBOC, you don't need to overly worry about housing issues.
Work Comfort Level:
There are also considerable differences in the work environment.
3. Four Major State-Owned Banks:
The four major state-owned banks are generally stable, with little fluctuation in wages. They have good training systems. However, the Shanghai branches of ICBC, ABC, BOC, and CCB mainly recruit local students.
Industrial and Commercial Bank of China (ICBC):
As a bank visible everywhere, the treatment of ICBC employees is inversely proportional to its scale. It is widely recognized as the bank with the lowest income among banks. However, due to its comprehensive business, employees can learn a lot and face less pressure. Low pay leads to higher turnover rates, faster promotions, and better development.
Rating:
Treatment ★
Stability ★★★★★
Development ★★★★★
Comfort ★★★★★
Salary and Benefits:
It was almost common knowledge that ICBC had low wages, with a monthly salary of around 5,000 RMB (pre-tax) plus annual bonuses, being the worst among the big four banks. Many ICBC employees reflect that the wage distribution at ICBC is extremely unreasonable: no specific model; wages determined by position rather than seniority; a significant gap between top management and frontline employees. ICBC's approach to employee compensation and benefits is indeed hard to agree with. However, there are signs of wage reform, so the future looks bright. After the reform, counter staff in Beijing reportedly earned nearly an 80,000 RMB annual salary.
Career Development:
Although ICBC's salaries are not high, it is definitely a learning platform where diligent individuals can gain valuable experience and increase their chances of moving to foreign banks or commercial banks. However, ICBC strictly controls processes, requiring extra effort to write requests to superiors.
Work Comfort Level:
Working hours depend on the department. Some departments are busy during working hours but do not require overtime, while others may demand daily overtime. Overtime pay is not very rewarding and difficult to obtain due to multiple approvals, making it essentially unpaid overtime.
Bank of China (BOC):
Similar to ICBC, BOC has a relatively complete training system and holds certain advantages in foreign currency business. According to information obtained, alumni who worked at a certain BOC branch received an average monthly salary of around 5,000 RMB after one year.
Rating:
Treatment ★★★
Stability ★★★★★
Development ★★★★
Comfort ★★★
Salary and Benefits:
Guangzhou region: First-year salary is quite low: undergraduate pre-tax salary around 2,500 RMB, post-tax less than 2,000 RMB; master's degree holders earn 300-400 RMB more before confirmation, but after three months, they can be confirmed, leading to better conditions, whereas undergraduates need one year to be confirmed. Additionally, BOC has good housing policies. If you plan to work long-term at BOC, you can secure decent housing from the start.
Career Development:
BOC places great emphasis on talent and employee training. Employees can learn a lot about banking and have opportunities to move from branches to the head office.
Work Comfort Level:
Normal working hours.
China Construction Bank (CCB):
It is said that different branches of CCB have significantly varying treatments. There is a saying: "National treasure 125, branch operation department," referring to the better-performing international business department, Baoshan branch, first branch, second branch, fifth branch, and branch operation department.
Rating:
Treatment ★★★☆
Stability ★★★★
Development ★★★
Comfort ★★★★
Salary and Benefits:
In recent years, CCB has developed rapidly, and the growth in revenue has brought high incomes for employees. Although CCB's wages may not match those of the big four, bonuses (essentially gray income) still constitute a considerable income. However, even within the same banking system, income levels vary across different regions in China. For example, a regular employee at a certain branch in Sichuan earns around 3,000 RMB per month, while the provincial branch headquarters offer annual salaries of no less than 100,000 RMB. In Shenzhen, new employees earn 5,600 RMB per month in the first year, rising to 7,000-8,000 RMB in the second year, with good branches offering up to 10,000 RMB. Overall, the treatment varies greatly among different branches, with an average annual salary of around 65,000 RMB.
Career Development:
CCB ensures your life after retirement and provides subsidies for buying or renting houses, so you don't need to struggle excessively for housing. CCB does not emphasize whether you graduated from a prestigious university; post-entry development depends on individual capabilities.
Work Comfort Level:
Working at CCB does not require overtime, providing ample leisure time, which is especially attractive to many women. You can use your free time for self-improvement, and after five years of employment, CCB might sponsor further education. The working environment in banks, which often involves direct customer interaction, is carefully managed, ensuring comfort in air-conditioned offices and access to public vehicles.
Agricultural Bank of China (ABC):
Rating:
Treatment ★★★☆
Stability ★★★★
Development ★★
Pressure ★★
Salary and Benefits:
After confirmation, employees earn 6,500 RMB per month, with housing allowances around 1,500 RMB, and software developers receive even higher pay, though front-line workers' treatment is poorer. Before confirmation, employees might only earn 2,000-3,000 RMB, but after confirmation, they receive basic salary + performance bonus + annual bonus + various holiday allowances. Specific amounts vary across cities.
Career Development:
Promotion at ABC is equivalent to three promotions in a company, making it harder to switch jobs. Competition is fierce, and relationships play a significant role. Many graduates from Tsinghua and Peking University work at ABC headquarters.
Work Comfort Level:
At the same salary level, ABC has the lowest workload and least pressure, often jokingly referred to as a place for retirement. Whether it's good or bad depends on individual preferences. Those who enjoy a relaxed lifestyle and dislike high pressure might consider ABC.
4. Medium and Small Joint-Stock Commercial Banks:
Due to intense competition among joint-stock commercial banks, they tend to offer similar benefits to retain talent, especially for core marketing personnel. The competitive environment also brings greater pressure compared to the four major state-owned banks. Poor performance can lead to reassignment, and leaders face pressure from both branches and the head office, resulting in frequent rotations of branch managers and fluctuations in salaries due to changes in leadership. Newly graduated employees in medium and small joint-stock commercial banks generally receive less comprehensive training, and internal promotions are slower due to the overall high educational qualifications of employees, limiting development opportunities. Generally, it's difficult to accumulate wealth quickly in these banks, but basic needs are met.
China Merchants Bank (CMB):
As the recipient of the Most Controversial Employer Award at the 2007 Jing Shi Ji Guo Forum Career Edition, despite offering 199 job positions to finance graduates in 2007 and providing generous benefits (which I believe are already high), many alumni still harbor deep resentment towards CMB. WHY? Hopefully, alumni from CMB can share their experiences. By the way, CMB accepts non-local students.
Rating:
Treatment ★★★★
Stability ★★★
Development ★★★
Comfort ★
Salary and Benefits:
Compared to other domestic banks, CMB offers relatively good compensation. Besides basic salary, employees receive monthly bonuses of 1,000-1,500 RMB. There are festival allowances during the five holidays (Spring Festival, bank anniversary, Labor Day, National Day, New Year's Day), double salary in June and December, quarterly bonuses, and annual bonuses. Combined, new employees at CMB typically earn between 50,000-70,000 RMB annually. Customer managers can earn up to 150,000 RMB annually, with many enviable benefits, such as Chengdu branch employees receiving the highest standard lunch tickets of 10 RMB and transportation provided.
Career Development:
New employees undergo three months of training. Management trainees, after half a month of intensive training, are assigned to various outlets for rotational training. Promotion-wise, as CMB is a very young company with continuously expanding scale, there are many promotion opportunities. Compared to the big four, CMB values individual capability and performance more during promotions. In the big four, promotions are based on seniority, whereas at CMB, capable individuals can be promoted anytime.
Work Comfort Level:
Regarding working hours, complaints about CMB being too exhausting are widespread. Although CMB's salaries are relatively high domestically, the work pressure is much greater than the big four, typically working from 8:30 AM to 7-8 PM, with only twenty minutes for lunch (Beijing branch).
SPDB (Shanghai Pudong Development Bank):
Rating:
Treatment ★★★★☆
Stability ★★★★
Development ★★★
Comfort ★★★
SPDB is often called the eldest son of the Shanghai municipal government and has consistently been regarded as having one of the best employee welfare packages in Shanghai. Although its reputation has declined somewhat in recent years, the camel is still bigger than the horse. SPDB offers good benefits, including low-interest loans or mortgages. Some SPDB alumni have raised new perspectives on SPDB's treatment, which I welcome. Due to different channels, there are significant differences in SPDB's treatment, currently rated at 4.5 stars.
Bank of Communications (BoComm):
Rating:
Treatment ★★★
Stability ★★★
Development ★★★
Comfort ?
As a nationwide bank headquartered in Shanghai, BoComm ranks mid-tier in all aspects. Unfortunately, we were unable to directly contact BoComm alumni and hope readers can supplement this information.
Shanghai Bank:
Rating:
Treatment ★★★★
Stability ★★★
Development ★★★
Comfort ★★★
Shanghai Bank is known as the youngest son of the Shanghai municipal government and is familiar as the bank distributing pensions to retired workers in Shanghai. Housing allowances are distributed in cash form. Shanghai Bank's treatment was average a few years ago, but salaries have increased significantly this year (compared to previous years). The probation period lasts one and a half years. This year, alumni newly hired at a certain branch reported earning around 3,000 RMB per month. Alumni hired last year at another branch earned 2,000 RMB company salary + 2,000 RMB subsidy + 3,000 RMB high-temperature allowance, with 3,000 RMB housing allowance after confirmation, up to 100,000 RMB. Shanghai Bank issued approximately 100+ offers this year, with about 30% going to finance graduates.
Shanghai Rural Commercial Bank:
Rating:
Treatment ★★★★★☆
Stability ★★★
Development ★
Comfort ★★★★★
Given the five-and-a-half-star rating, it's evident how good the treatment is. Based on reports from 2007 alumni, the bank offers around 70,000 RMB post-tax in the first year, along with irregular issuance of physical goods and contributions to the six social security funds. Due to plans for listing, each employee enjoys an employee stock ownership plan, potentially yielding returns far exceeding what some people could earn in a lifetime. Why is the development rating only one star? Because once you enter, very few leave, waiting until retirement. This year, the bank issued 144 offers, with about 10% going to finance graduates.
CITIC Bank:
Rating:
Treatment ★★☆
Stability ★★
Development ★★
Comfort ★★★
CITIC's treatment used to be quite good, but after the branch manager changed this year, it has decreased significantly. Many capable people have quit, and new hires have also left in large numbers, making the entire branch relatively chaotic. Newly hired alumni currently earn around 2,300 RMB per month (including high-temperature allowance) with an additional car allowance of 300-500 RMB, depending on the branch. Students who like to take advantage of chaotic situations might try this out since banks ultimately need people to work. Perhaps staying cheaply for two years could lead to a promotion and better treatment. This year, CITIC recruited around 60 people, with about 35% being finance graduates, indicating that CITIC still values finance students. Non-local students are also accepted.
Minsheng Bank:
Rating:
Treatment ★★--★★★★★
Stability ★
Development ★★★
Comfort ?
Some say Minsheng Bank is a rice jar, but the prerequisite is that your father owns a rice warehouse. Of course, this is a joke. Minsheng Bank focuses heavily on efficiency. If you have resources, you don't even need to show up for work and can still earn a high salary. If you perform poorly, you'll be dismissed without hesitation. Unfortunately, we were unable to directly contact Minsheng Bank alumni, and further details need to be supplemented and corrected.
Shenzhen Development Bank:
Rating:
Treatment ★★
Stability ★★
Development ★★
Comfort ★★★
Quoting from an alumnus's email: "One-year internship period, dispatched to a branch accounting department handling corporate and retail business, salary 1,600 RMB, no bonus, car allowance 400 RMB, meal allowance 10 RMB per day, irregular fruit, supermarket cards, beverage vouchers, mid-year trip, after one year, reassignment by the branch, starting salary 900 RMB." Sounds quite low, so the ratings are accordingly set.
Industrial Bank:
Rating:
Treatment ?
Stability ?
Development ?
Comfort ?
Alumni contacts ongoing...
Everbright Bank:
Rating:
Treatment ★★★
Stability ★★
Development ★★
Comfort ?
Unfortunately, we were unable to directly contact Everbright Bank alumni. However, according to information provided by an alumnus on the 341st floor, the first-year monthly income is 3,500 RMB, which seems decent. Other aspects should be similar to other medium and small joint-stock commercial banks, with limited development space and instability.