Wage changes in various industries in the past decade: the financial industry is no longer prosperous, can the Internet continue to grow red?

How have wage levels changed across major industries in recent years?

According to the "China Statistical Yearbook 2021" released by the National Bureau of Statistics, the first financial reporter combed the average wages of non-private workers in various industries in 2020 and the growth and changes in recent years and found that in the past decade, the three major industries with the fastest wage growth are agriculture, forestry, animal husbandry, fisheries, wholesale and retail trade, health and social work. Judging from the changes in the absolute value of various industries in the past decade, the financial industry is no longer beautiful, from the first place to the third place, the information transmission, software and information technology service industry ranks first, and the scientific research and technical service industry also surpasses the financial industry and ranks second.

The data shows that among urban non-private units, the three industries with the highest average wages in 2020 are: information transmission, software and information technology services (177544 yuan), scientific research and technical service industry (139851 yuan), and financial industry (133390 yuan).

In terms of wage changes in the past fifteen years, the financial industry ranked second in 2005 after the information transmission, software and information technology services industry. However, in 2010, the financial industry rose to the first place, reaching 70,146 yuan. By 2015, it was still in the first place, but the lead had narrowed significantly, and by 2020, it had been pulled down by the information transmission, software and information technology service industries. At the same time, in 2019, the wage level of the financial industry has been surpassed by scientific research and technical services, falling to the third place, and continues to rank third in 2020.

A person from a joint-stock bank in South China told the first financial reporter that the wage increase in the banking industry in recent years has indeed not been large. In particular, in recent years, the financial industry has entered the era of strong supervision. Since 2014, banks have successively implemented a salary deferral system, and the essence of salary deferral is risk preparation. For example, a large portion of wage income is deferred for three years, during which it is deducted if there is a problem with asset quality or a violation of discipline. "So, on the surface, the salary is high, but in fact there are not so many."

Compared with the financial industry, the information transmission, software and information technology service industry ranked first with 177544 yuan, a large distance ahead of the second and third places, of which 37693 yuan higher than the second place scientific research and technical service industry. At the same time, compared with 2019, the wages of information transmission, software and information technology services increased by 16192 yuan in 2020, which is also far ahead in major industries.

Information transmission, software and information technology service industries can also be called digital economy and information economy. In addition to Internet companies such as games and e-commerce, the information transmission and information technology industries include large state-owned enterprises such as mobile, Unicom, and telecommunications. Among them, Internet companies, especially large factories, have attracted wide attention.

Looking ahead, can the Internet continue to grow red? In 2021, some Internet manufacturers have adjusted their business and contracted their personnel due to changes in policies, and instability factors have increased. In addition, in the case of the gradual peak of traffic in the Internet industry, the current industry is gradually removing the bubble, and the employment and wage levels in these industries will be adjusted accordingly.

Judging from the changes in the growth rate in the past decade, agriculture, forestry, animal husbandry and fishery ranked first with an increase of 190.4%. There are many factors for the high growth rate, which are related to the good development momentum of the industry in recent years, and also related to the small base of the original. Among them, in 2010, the average wage in the industry was only 16717 yuan, and by 2020 it was 48540 yuan, which is still the lowest wage industry.

Wholesale and retail trade, health and social work, wage increases in the past decade ranked second and third respectively. In addition, the information transmission, software and information technology services, education, public administration, social security and social organizations, culture, sports and entertainment industries have also increased wages by more than 170% in the past decade.

In contrast, the three industries with the smallest increases in the past decade are finance, accommodation and catering, leasing and commercial services. Among them, the financial industry has the smallest wage growth rate in the past decade, only 90.2%, and is the only industry with an increase of less than 100%. Followed by the accommodation and catering industry, the growth rate in the past decade is only 108.8%, especially in 2020, the industry under the impact of the epidemic, the average wage of employees decreased by 1513 yuan.

Table: Wage changes in various industries in the past decade

(Salary unit: yuan. Data source: The first financial reporter sorted out according to the data of the National Bureau of Statistics)