37 listed banks collectively added 6,505 employees last year, with average salaries experiencing increases and decreases. Three categories of positions are focused on optimization.

Securities Times reporter An Yi

More than half of listed banks have already released their 2025 annual reports. As of the time of publication, among 57 A-share and H-share banks, 37 have published their annual performance, and information on employee compensation has come to light. Based on comparable data, human capital cost spending by listed banks overall has been on an upward trend.

At the same time, those 37 banks added a total of 6,505 employees last year. The newly added staff continued to be directed mainly to areas such as business marketing and information technology. The workforce groups in which teller roles and employees with weaker educational backgrounds have not been advantageous have continued to be optimized and adjusted.

In terms of average compensation per employee, shareholding banks with more flexible mechanisms, higher market orientation, and branch offices concentrated in developed cities still rank at the top. However, Zhejiang Bank and Everbright Bank saw more pronounced declines in average compensation per employee.

Shareholding banks’ compensation overall declines

As is understood, bank employee compensation is mainly reflected in “employee expenses” under the income statement line item “business and administrative expenses.” Some banks also refer to it as “human capital cost” or “employee cost.” Employee expenses specifically include wages and bonuses, as well as social security, the five insurances and one housing fund, union dues, training fees, and other items. Among them, wages and bonuses are what are commonly called employee compensation; the other items are collectively classified as benefits.

Among the aforementioned 37 banks, most have increased investment in human resources to support the implementation of strategies. Among them, Luzhou Bank and Weihai Bank saw human resources investment rise by 17% and 12%, respectively, last year. Chongqing Bank’s increase is also close to 10%, placing it among the industry leaders.

Meanwhile, 11 banks saw their total human capital costs decline slightly. Among them, Everbright Bank fell by nearly 10% year over year, with the largest decline. Jiangxi Bank, Dongguan Rural Commercial Bank, and Zhejiang Bank also recorded declines of more than 5%.

Regarding average compensation per employee, when calculated using equivalent headcount (the average of employee numbers at the beginning and end of the year), among the 37 banks mentioned above, although shareholding banks as a whole showed a downward trend in terms of amounts, they still remain in absolute first place.

Among them, CITIC Bank’s average compensation per employee edged up to 600,000 yuan, temporarily ranking first among shareholding banks. China Merchants Bank’s average compensation per employee has fallen for four consecutive years, dropping back to within 580,000 yuan; Industrial Bank has continued to hold around 560,000 yuan, with a slight year-over-year increase.

6 banks’ average revenue creation exceeds 2.8 million

Average compensation for shareholding banks and city commercial banks ranks among the top tiers in the banking industry. Behind this are multiple factors: first, shareholding banks and city commercial banks have relatively concentrated branch networks and employees, and they are mainly distributed in major domestic cities, so they need competitive compensation to attract talent.

Second, there are differences in employee scale and educational background structure among different types of banks. The proportion of employees with a bachelor’s degree or above at listed shareholding banks and city commercial banks is generally higher than 85%, and their corresponding average compensation per employee is also higher.

Third, compared with state-owned big banks, listed shareholding banks and city commercial banks have mechanisms that are more flexible and more market-oriented. Faced with relatively fierce market competition, to attract talent, the benefits offered are also more enticing, especially for pay packages for business backbones and digital talent.

More importantly, matching average compensation per employee is the relatively high average productivity of listed shareholding banks and city commercial banks. Data show that among the 37 banks mentioned above, 6 have average revenue creation exceeding 2.8 million yuan. This includes 4 shareholding banks and 2 city commercial banks. Among them, CITIC Bank’s average revenue created per employee last year was close to 3.2 million yuan, ranking first. Ping An Bank and Industrial Bank followed closely, with average revenue created per employee of approximately 3.18 million yuan and 3.09 million yuan, respectively.

Among city commercial banks, Huishang Bank and Chongqing Bank both had average revenue created per employee around 2.8 million yuan, putting them among the leaders. Previously, Luzhou Bank, which had led the race among city commercial banks, saw its average revenue created per employee fall by 20% to 2.72 million yuan.

Optimization of three categories of roles is significant

According to statistics, among the aforementioned 37 listed banks, the total number of employees in 2025 increased by 6,505 compared with the previous year, with the increment lower than in 2024. Overall, the number of banks that increased headcount was roughly equal to the number that reduced headcount.

Looking at the whole picture, newly added personnel at listed banks mainly concentrated in areas such as business marketing and information technology. According to statistics, among six state-owned big banks, the number of employees had both increases and decreases, resulting in a net increase of around 1,500 people. Among them, Agricultural Bank and Bank of Communications added about 3,100 and 2,200 employees, respectively. BOC has increased headcount for four consecutive years. Last year, among the bank’s domestic banking institutions, the number of sales development personnel increased by more than 1,700, and the number of financial technology personnel increased by more than 700.

For shareholding banks, China Merchants Bank’s employee headcount has maintained a long-term upward trend. Last year, it added nearly 4,400 employees, ranking first among the 37 banks mentioned above. From the professional composition perspective, last year the company’s employees in corporate finance and retail finance lines increased by a total of more than 2,400.

At the same time, the banking sector has continued to optimize and improve employee structures. Overall, industry headcount reductions show relatively consistent characteristics, mainly concentrated in three categories of personnel and roles: first, positions with strong substitutability, such as tellers, security, telephone customer service, and credit card sales; second, to improve quality and efficiency and shorten management reach, banks simplify internal organizations and reduce the proportion of middle- and back-office personnel; third, employees whose educational background is not advantageous. According to statistics, in 2025, the total number of employees at the six state-owned big banks with junior college education or below decreased by more than 38,000.