Bank president's income is highest in the whole market - Photo: QUANG DINH
According to Fiingroup's report, the average income of the chairman of the board of directors of listed enterprises in 2023 is 1.7 billion VND/person.
Banks and financial services (mainly securities companies) have the highest average income for board chairmen, thanks to the specific management involvement of these leaders.
Which president has the highest income in the market?
More detailed data shows that the income of the board chairmen at banks, securities companies and some enterprises such as PNJ, Vinhomes, Nam Long, NTP, REE... is higher than the majority of the rest.
This factor may be due to the fact that these are all large, industry-leading enterprises. According to the data unit's observations, the position of Chairman of the Board of Directors also participates in some operational work and shares some of the scope of work of an executive position such as CEO.
According to detailed statistics, in the top 1, the average income of the chairman of the banking industry is 4.1 billion VND in 2023. While the financial services industry ranks second with 2.9 billion VND.
Oil and gas, which used to be more "famous" for its good treatment, ranked third, with 2.2 billion VND. "Tied" at this level are the basic resources and real estate industries.
However, it should be noted that the income of the chairman of the board of directors does not include the value of bonus shares or shares under the executive option plan (ESOP).
Data: Fiingroup
Looking at the above data, it can be seen that the chairman of the board of directors of Sacombank receives the highest income in the banking industry and ranks second in the market, after PNJ chairman Cao Thi Ngoc Dung.
What is the income of the presidents of state-owned banks?
According to statistics from Tuoi Tre Online based on audited financial reports for 2023, many other bank presidents also have billion-dollar incomes.
In the "Big 4" banking group, Mr. Phan Duc Tu - Chairman of BIDV - received a salary of more than 2.48 billion VND in 2023. Similarly, the salary of the Chairman of VietinBank is also at 2.48 billion VND.
Meanwhile, Mr. Pham Quang Dung - former chairman of Vietcombank - only received a salary of 1.63 billion VND in 2023.
Last year, Mr. Ngo Chi Dung - Chairman of VPBank - received a salary of 3.36 billion VND, unchanged from the previous year.
At MBBank, Mr. Luu Trung Thai was appointed from April 2023. The financial report revealed that Mr. Thai received a salary of more than 1.98 billion VND last year.
Data: Financial statements/TTO
At many other banks, financial statements do not explain in detail the income of each member of the board of directors or executive board, only providing the total remuneration paid.
Notably, survey data on leadership income also shows that the group of enterprises with state capital (the state owns from 25% to less than 51% of total equity) has the highest return on equity (ROE), but the average income of the chairman of the board of directors (as well as the CEO) is 16%-20% lower than the average level of the whole market.
Experts from Fiingroup recommend narrowing the income gap between executive positions such as general directors at state-owned enterprises and private enterprises, in the context of no significant difference in business efficiency.
This is considered a very important solution to reform state-owned enterprises.
In addition, by separating the roles of the two positions of Chairman of the Board of Directors and General Director as currently regulated, businesses can consider designing and building policies and income structures for these key positions based on tasks, scope of work and performance measurement indicators.
These metrics could include profit margins, capital efficiency, core/sustainable earnings growth, along with current plan completion metrics.
Source: https://tuoitre.vn/he-lo-thu-nhap-cua-loat-chu-tich-doanh-nghiep-niem-yet-ai-cao-nhat-2024090512144158.htm
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