Employee sample: financial industry salary is 2.35 times higher than the manufacturing industry, why is the average salary per capita in the financial industry so high?

According to the results of Wind data, from 2018 to 2021, the annual average salary of employees in the financial industry is 2.35 times that of the manufacturing industry and 1.69 times that of other industries. Among them, the average compensation of employees in the securities industry is 3.76 times that of the manufacturing industry and 2.71 times that of other industries.

A while ago, there was also a news story on the Internet about the 90 traders at CICC earning 80,000 dollars a month, so it is clear that the wages in the financial industry are really high. So why is this?

Of course, the high average salary of employees in the financial industry has to do with a lot of factors, which I won't list here, but at the end of the day, I think one thing is because the financial industry concentrates a lot of money.

As the saying goes? Things are more expensive when they are rare? , by the same token, once there is more of a thing it is not worth much. More people, the price of labor is cheap; overcapacity, the commodity can not sell the price to; then, more money, the money will also be worthless. In the financial industry, whether it is banks or securities, a large amount of money is concentrated, and it is often counted in billions of dollars. In this kind of environment, a salary of a few thousand or tens of thousands of dollars is nothing at all, and it can't attract people's attention. Hundreds of thousands of dollars on the books, a month of 10,000 dollars salary, it does not matter; billions of dollars on the books, a month of a hundred million dollars salary, that is also acceptable.

Moreover, compared with the labor-intensive manufacturing industry, the financial industry belongs to the capital-intensive industry. From time immemorial, making money with money is the easiest thing to do, and its per capita output will be higher. The manufacturing industry, on the other hand, because the number of employees is too large, the per capita output value is relatively low, and the per capita salary is naturally not high. So it's understandable that in this financial industry, employees are paid slightly more.

The general rule is that if you want to find a high-paying job, you either have to go to a big city or go to an industry where money and technology are concentrated. Big cities have high GDPs and lots of money; technology-concentrated industries, which are chased by capital, have more money there too. More money, money is easy to be issued; less money, all in the fine-tuning, the wage is naturally not high.