Top executives at China’s internet giant Tencent earn higher salaries than their counterparts at Amazon, Twitter, Intel Apple and IBM, according to job portal Zhaopin.com. Business analyst Shaun Rein is not surprised, he tells the South China Morning Post. There is no other way to retain their talent in China.
The South China Morning Post:
“A lot of these guys can very easily go out and start their own companies at billions of dollars of valuation, because they are so well respected” by the private equity world, said Shaun Rein, the managing director at China Market Research.
“The reality is they are performing that well,” Rein said. “If they want to retain the top talent, the compensation makes sense.”
Tencent operates Weixin — and its offshore version WeChat — the Chinese social messaging platform that allows 889 million users to do everything from video-messaging to exchanging documents, and even hail rides, navigate and pay their utility bills.
The company’s net profit last year jumped 43 per cent to 41.1 billion yuan, bolstered by sales growth in online games and advertising. Its shares rose to a record HK$231 last week, boosting its market value to US$281 billion, making it Asia’s biggest company.
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