BUSINESS Report sheds light on annual employee bonuses for 2020

BUSINESS

Report sheds light on annual employee bonuses for 2020

China Daily

16:21, January 07, 2021

Nearly 60 percent of interviewees say the year-end bonus accounts for 5 to 10 percent of their annual income. (Photo: IC)

As few as 13.3 percent of interviewees from 13 industries in China said they would switch to another job because of an unsatisfying year-end bonus, according to a 2020 year-end bonus report from 51job, as the Securities Times reported on Thursday.

51job, a major human resources online platform, said in its report that 6.3 percent of interviewees had received the year-end bonus for 2020, while 58.6 percent were not sure whether they would get any bonus. Among those who believe they would receive the bonus, 66.1 percent expected to get it before Spring Festival, which starts Feb 12. But 13.4 percent of interviewees said they won't get any bonus for 2020.

The report found nearly 60 percent of interviewees said the year-end bonus accounts for 5 to 10 percent of their annual income.

The report said, in addition to cash, nearly 20 percent of interviewees received material items as a year-end bonus, 7.6 percent were awarded with corporate stocks and options, and 10.8 percent received thank-you letters from management.

Deposits or paying for expenses during Spring Festival are the two most frequent responses to how individuals would use their year-end bonus. Per the report, 10.6 percent of interviewees said they would choose to repay loans or debts before engaging in any consumption, and less than 10 percent would opt to invest their year-end bonus.

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