Stockbrokers with Higher Salaries than Samsung Electronics... Four Firms Including Meritz Securities Exceed 100 Million Won

by Lee Seonae

Published 22 Aug.2021 09:37(KST)

Stockbrokers with Higher Salaries than Samsung Electronics... Four Firms Including Meritz Securities Exceed 100 Million Won

[Asia Economy Reporter Lee Seon-ae] Securities firms have been found to offer higher annual salaries than Samsung Electronics. Among domestic listed companies, securities firms clearly offer the highest salaries. Several firms recorded an average employee salary exceeding 100 million KRW in the first half of this year, with securities firms dominating the top ranks in per capita salary.

According to the semi-annual reports submitted by each company on the 22nd, among listed companies with over 100 employees (excluding holding companies), 22 companies had an average employee salary exceeding 80 million KRW in the first half of this year.

Twelve companies paid between 80 million and 90 million KRW, six companies between 90 million and 100 million KRW, and four companies exceeded 100 million KRW.

Securities firms swept the top 1 to 14 positions, accounting for 17 out of the total 22 companies.

Meritz Securities (134.68 million KRW) ranked first, approximately 2.8 times that of Samsung Electronics (48 million KRW).

Meritz Securities was the only company to exceed 100 million KRW in the first half of last year (108.94 million KRW), and this year it increased by 23.6% compared to last year. Notably, the average salary for male employees working in the head office sales department was a staggering 268.11 million KRW for the first half.

Mid-sized securities firms such as Ebest Investment & Securities (131 million KRW), Hanyang Securities (128 million KRW), and Bukook Securities (115.18 million KRW) also had average semi-annual salaries exceeding 100 million KRW.

Including unlisted companies BNK Investment & Securities (156 million KRW) and Korea Investment & Securities (101.9 million KRW), the number of securities firms with six-month salaries exceeding 100 million KRW increases.

Among large firms, Hana Financial Investment (93 million KRW), KB Securities (92 million KRW), Samsung Securities (91 million KRW), NH Investment & Securities (89 million KRW), and Mirae Asset Securities (85 million KRW) followed in order.

Salaries in securities firms generally correlate with stock market performance. When the stock market performs well, securities firms earn more, leading to higher employee salary levels.

The net profit of the top 10 securities firms by equity capital reached 2.30687 trillion KRW in the second quarter of this year, maintaining the 2 trillion KRW level for two consecutive quarters following 2.2968 trillion KRW in the first quarter.

Outside of securities firms, the "Kakao trio"?Kakao Games (85 million KRW), Kakao (83 million KRW), and Kakao Bank (all 83 million KRW)?followed. Kakao Games and Kakao Bank saw their salaries surge by 142.8% and 56.6%, respectively, compared to the same period last year, due to stock option exercise gains.

Naver's average six-month salary per employee was 81.22 million KRW, and SK Telecom's was 81 million KRW.

Among unlisted companies, SK E&S, SK's comprehensive energy subsidiary, had the highest salary at 95 million KRW, which was 2 million KRW (-2.0%) less than the same period last year.