Alibaba Group Holding Limited (NYSE:BABA) emerged as the best-paying tech company in China, with an average monthly salary of $5,000 (33,500 yuan), SCMP reports based on a survey of over 5,000 Maimai users.
ByteDance and Tencent Holding Ltd's (OTC:TCEHY) average monthly wages were $4,900 (32,800 yuan) and $4,600 (30,800 yuan).
Smartphone maker Oppo, Tencent Holdings, and Ant Group led concerning annual bonuses for 2021. Alibaba followed next with an average payout of 170,900 yuan, and ride-hailing giant DiDi Global Inc (NYSE:DIDI) took the tenth position with an annual bonus of 102,800 yuan.
The size of an annual bonus reflects a company’s financial performance, signifying the industry’s rise and fall, and can even act as a barometer of the economy, Maimai founder and CEO Lin Fan said.
The Big Tech pay was significantly higher than China’s official per capita income, indicating the attractiveness of the tech sector despite regulatory crackdowns.
The average nationwide annual per capita disposable income for 2021 was 35,128 yuan, equivalent to about a month’s salary at one of the Big Tech firms, as per China’s National Bureau of Statistics.
However, more than 35% of the surveyed professionals in China’s internet and technology sector reportedly received a smaller bonus this year than before. In comparison, 33% did not see a change. The remainder said they received more than the previous year.
According to SCMP, one-third of millennials and many with family responsibilities decided to stick to their jobs irrespective of the bonus amount. However, more than half of the Gen Z respondents acknowledged immediately resigning or actively looking for opportunities depending on the bonus.
Price Action: BABA shares traded higher by 3.97% at $97.08 on the last check Thursday.
