刘琼

LiuQiong

　　[ 高级别人员数量快速增加的“头衔通胀”现象，相关人员整体的能力素质并没有同步快速提升，一定程度上也降低了高级别职衔的含金量 ]

[high level personnel quantity rapid increased"Title inflation"phenomenon,Relevant personnel overall ability quality and no synchronous rapid promotion,A certain extent also reduces the high level of the gold content] want

　　一家拟上市公司老总在宴请券商的投行人士时，被投行人员递上来的印有“高级副总裁”、“执行总经理”、“董事总经理”等五花八门头衔的名片弄得有些糊涂了。

A quasi listed company manager in the fete brokers to investment Banks when people,Be investment Banks personnel with the pass up"Senior vice President"/"Executive general manager"/"Managing director"And multifarious title card make some confused.

　　该老总实在分不清，谁才是最大的领导，又不好意思问别人，只好硬着头皮跟“高级副总裁”打了个招呼，说“这么年轻就做到高管了，有前途啊”。结果话音未落，“高级副总裁”身旁的董事总经理就立刻沉下了脸。这位老总不知道的是，董事总经理比高级副总裁高了几级。

This old total really points is not clear,Who is the biggest leadership,And embarrassed to ask someone else,Had to bite the bullet and with"Senior vice President"Dozen hello,said"So young will do the executives,Promising ah".Results voice did not fall,"Senior vice President"The managing director side immediately sank down in the face.The manager don't know is,Director general manager than senior vice President for a few high level.

　　其实，这不是该老总一个人遇到过的窘事。

In fact,This is not the old total a man met embarrassed matter.

　　眼花缭乱的投行职级 Dazzling investment Banks rank

　　“其实这是采用了美国、欧洲等国际知名投行在职业发展通道设计上，普遍采取的业务职衔（MD序列机制）制度。”华德士人才咨询（上海）有限公司北京分公司金融服务行业资深顾问孙琇对《第一财经日报》表示。

"In fact this is made by the United States/Europe and other international well-known investment Banks in the career development channel design,Generally adopted business nobility(MD sequence mechanism)system."HuaDeShi talents consulting(Shanghai)Co., LTD., Beijing branch of the financial services industry SunXiu senior consultant to[The first financial daily]said.

　　以投行业务职衔来看，美资投行一般都是五层职级，从高到低一般分为：Managing Director（董事总经理，MD）、Executive Director（执行董事，ED）、Vice President（副总裁，VP）、Associate（经理，AS）和Analyst（分析师），MD为最高级别。高盛则随着业务的发展和人员的扩张，在MD之上又设Partner Managing Director（合伙董事总经理，Partner MD）。

Investment banking to want to see,Us investment Banks are generally five layer rank,From high to low generally divided into:Managing Director(Managing director,MD)/Executive Director(Executive director,Ed)/Vice President(Vice President,VP)/Associate(The manager,as)And Analyst(analysts),As the highest level MD.Goldman sachs is along with the service development and the expansion of the personnel,In the MD and above a Partner Managing Director(Partnership managing director,Partner MD).

　　目前，“国内主流券商的投行部门几乎均引进了这样的业务职衔（MD序列机制）。”正略钧策管理咨询有限公司顾问赵恒表示。

At present,"Domestic mainstream of securities investment bank department almost are introduced such business nobility(MD sequence mechanism)."Is slightly jun strategy management consulting co., LTD. ZhaoHeng adviser said.

　　根据公司大小、背景的不同和特定的需要，孙琇表示，有的公司在经理级别还向上分设了高级经理的职位，在副总裁级别还向上分设了高级副总裁的职位。

According to the company size/The different background and specific needs,SunXiu said,Some companies in the manager level up also set up the senior manager position,In the vice President level also set up up the senior vice President position.

　　欧洲的投行在ED（执行董事）下面设有相当于VP的董事以及副董事职级；国内如中金设有6个等级，而中银国际设有8个等级。

European investment bank in the Ed(Executive director)With the equivalent of VP directors and deputy directors rank;Domestic such as zhongjin has six grade,And boc international has eight level.

　　在一个IPO（首次公开募股）项目组中，通常会配有1~2名分析员、1名经理、1名执行董事。孙琇透露，国内一家知名的券商投行部，有VP（副总裁）40~50个，ED(执行董事)30~40个。

In an IPO(Initial public offerings)Project team in,Usually with 1 ~ 2 name analyst/A manager/One executive director.SunXiu revealed,A famous domestic securities investment banking department,A VP(Vice President)40 ~ 50,Ed(Executive director)30 ~ 40.

　　不过赵恒认为，投行的职衔制度的核心是人，不同级别的职衔代表人员的能力、水平，以及相应的待遇，是一种身份的象征，并不代表职位，这个和传统企业的职衔有着根本的区别。

But ZhaoHeng think,The investment Banks want to the core of the system is the person,Different levels of want to represent the ability of personnel/level,And the corresponding treatment,Is a symbol of status,Doesn't mean position,The traditional enterprise and occupying the there is a fundamental difference.

　　他打比方说，传统企业的岗位职衔就相当于军队的军职，比如司令、军长、师长，一个集团军只有一个司令；而投行的职衔类似于军衔，比如元帅、上将、中将、少校等，一个集团军可以有多个将军，而当一个元帅不担任集团军司令时，其军衔是不变的，仍然是元帅。

His example,The traditional enterprise position of the army of the nobility is equivalent to the army,Such as commander/The captains of the army/teachers,An army only a commander;Investment Banks and occupying the similar to rank,Such as the captain of the/admiral/will/Major, etc,An army general may have more than one,And when a marshal not as when the commander of army group,His rank is constant,Captain is still.

　　仅学皮毛，未见精髓 Only learn fur,Did not see the essence

　　国外的投行业由于比较成熟，横向划分的行业部门较多；而国内行业细分不够多，只能往更多层级设置，虽然可能只是多那么1~2个层级，但是，北森咨询副总经理谢健乔认为，头衔贬值的现象确实存在。

Foreign cast industry due to the more mature,Lateral division of industry department more;And the domestic industry segmentation are not enough,Can only move more level Settings,Although may be more so 1 ~ 2 levels,but,The north's consulting deputy general manager XieJianQiao think,Title depreciation phenomenon do exist.

　　国内券商是从2006年、2007年开始更多学习国外的体系，但在谢健乔看来，“更多的只是学习到皮毛，而未触及精髓。”上述业务职级体系的精髓在于促进员工能力的增长，但一些中资公司是关注岗位本身，而不是人员素质的提升。

Domestic securities trader from 2006/2007 start to learn foreign system,But in XieJianQiao looks,"More just learning to fur,And did not touch the essence."The essence of the above business rank system is to promote the growth of the ability to employees,But some Chinese companies is to pay attention to position itself,Rather than the quality of the personnel of ascension.

　　国际投行一般采用MBA毕业年度这一资历指标作为员工能否获得晋升的基本条件。一般来说，各投资银行每年从优秀大学招收本科生做Analyst，工作两年后，公司便要求其去商学院攻读MBA，MBA毕业后可直接从Associate职级做起，从而真正踏上投资银行职业生涯。

International investment Banks usually use MBA graduation year this qualification index as employees can get the basic conditions for the promotion.Generally speaking,The investment bank from year to recruit outstanding university undergraduate do Analyst,Work for two years later,The company will ask them to go to business school studying for an MBA,After graduated from MBA can be directly from Associate with rank,Thus the real career on investment bank.

　　以后，每2~4年在满足晋升条件的情况下晋升一次，直到MD。因此，在国外，员工从毕业进入投行到最终升到MD级别，一般至少需要15年左右。

later,Every 2 ~ 4 years in meet the promotion conditions a promotion,Until the MD.therefore,In foreign,Staff from graduation into investment banking to end up to level of MD,General needs at least 15 years or so.

　　各个不同职级对人员的能力素质要求也不同，这也是评定员工级别的重要因素，一般而言，对人员能力素质的评定从几个方面进行考量：经济贡献、领导能力、客户影响力、团队协作、沟通能力、专业能力，以董事总经理（MD）为例，该级别有很高的业务收益指标以及客户责任要求，需参与公司的整体战略及业务方向制定。

Different rank to personnel ability quality requirements are different,This is also an important factor evaluation staff level,Generally speaking,The personnel ability quality evaluation from several aspects of considerations:Economic contribution/leadership/Customer influence/teamwork/Communication skills/Professional ability,To managing director(MD)For example,This level has high business income index and customer responsibility requirements,Need to participate in the company's overall strategy and business direction set.

　　然而，国内当前在人员级别晋升上，存在很多问题，很多从业人员通过跳槽，迅速获得级别的上升，这几乎已成了业内的惯例。特别是从大的券商跳槽到中小券商，可能就从ED变身为MD。

however,The domestic current level in personnel on promotion,Exist a lot of problems,Many employees through the job-hopping,Quickly get to the level of rise,It was almost has become the industry practice.Especially from big securities trader defecting to the small and medium-sized brokerages,May be from Ed change as MD.

　　赵恒认为，这一方面由于国内这几年市场的快速发展，特别是从2006年股改开始，国内投行业务市场快速膨胀，如IPO业务，导致了对投行业务人才的需求急剧增加，而国内相关的投行业务人才无法满足需求，这就导致了各个券商相互挖人，许以高级别高薪水，使得人员在流动时很容易升级。

ZhaoHeng think,This hand as the country over the past few years the rapid development of the market,Especially from 2006 other start,The rapid expansion of domestic investment banking market,Such as the IPO business,Led to investment banking talented person's demand has increased dramatically,And domestic related investment banking business talents can't meet demand,This in turn leads to each brokers dig each other people,XuYi high level high salary,Make personnel in the flow is very easy to upgrade.

　　虽然金融危机之后金融业一直不景气，国内投行业务市场也不断萎缩，但是为了留人，提升业务竞争力，很多券商也是通过给予高级别来吸引人才。

Although the financial crisis in the financial sector has been after the recession,Domestic investment banking market is shrinking,But in order to attract,Improve business competitiveness,A lot of securities trader is by giving high level to attract talents.

　　另一方面，从业人员通过跳槽，快速地提升自身级别也和业务职衔这种机制自身的特点有关系，MD机制是以人为中心的一种职级设定，因此，个人的能力是自身级别的最根本决定因素，一些从业人员经过在一线券商的工作，各方面能力得到了提升，相比大券商内部的竞争激烈，投身中小券商对自身发展似乎更有优势，而中小券商也乐意给予高级别。

On the other hand,Employees through the job-hopping,Quickly to raise their level and want to business this mechanism own characteristics have relations,MD mechanism is to take human as the center of a rank setting,therefore,Personal ability is their own level of the most fundamental determinants,Some of the employees in a line through brokers work,Various aspects ability was enhanced,Compared with big securities trader internal competition is intense,In the small and medium-sized brokerages to their own development seems to have more advantages,And the small and medium-sized brokerages are willing to give high level.

　　头衔通胀的浮躁行业 Title inflation fickleness industry

　　上述现象导致了高级别人员数量快速增加的“头衔通胀”现象，但是，整体的能力素质并没有同步快速提升，一定程度上也降低了高级别职衔的含金量。

The above phenomenon led to high level personnel quantity rapid increased"Title inflation"phenomenon,but,Overall ability quality and no synchronous rapid promotion,A certain extent also reduces the high level of occupying the gold content.

　　一位外资银行的外籍主管被派到中国工作，他在招人的时候发现，中国一些做到VP(副总裁)的年轻人有的仅有5~6年从业经验，而他在国外达到相同职位却经历了10年左右的时间，这让他觉得诧异。

A foreign bank foreign supervisor was sent to work in China,He in the recruit person found,Some Chinese do VP(Vice President)Some young people only 5 ~ 6 years relevant working experience,And he is abroad to achieve the same position has experienced 10 years time,This let him feel surprised.

　　在他看来，这样“头衔通胀”的现象，会造成很多从业者的浮躁心态。

In his view,this"Title inflation"phenomenon,Can cause many practitioners impetuous mentality.

　　相比而言，头衔通胀现象更多地在券商和基金行业普遍和明显，谢健乔说，重要的原因是，“券商和基金行业人员结构年轻化，但是人才成长的速度跟不上快速增长的中国经济的发展速度，导致人才能力稀释和揠苗助长现象存在。”

compared,Title inflation phenomenon more on brokers and fund industry generally and obvious,XieJianQiao said,The important reason is,"Brokers and fund industry personnel structure younger,But talents growth can't keep pace with the fast growth of China's economic development speed,Lead to talented person ability dilution and push them phenomenon exists."

　　另一方面，这些行业主要是靠高素质的人为核心竞争力，孙琇认为，在内地，这方面的人才与香港特区、新加坡相比明显存在供不应求的状态。

On the other hand,These industries are mainly rely on high quality artificial core competitiveness,SunXiu think,In the mainland,The talent and the Hong Kong SAR/Singapore obvious than supply.

　　国内各券商在引入业务职衔机制时，缺乏统一规范的标准，结果造成了相互之间的级别错位。比如VP，翻译过来是副总裁，而实际上，从投行业务职衔角度讲，副总裁可能只是公司的一名普通员工，并不是高管人员。这就造成外界认知的混乱，不利于交流与沟通，同时，也容易造成人员自身的认知错位，易造成个人的急功近利与高位低就的心态，不利于员工个人成长发展。

The domestic various brokers in introducing business when occupying the mechanism,The lack of a unified and standard standard,The result is that the level of mutual dislocation.Such as VP,Translating is vice President,But in fact,From the Angle of investment banking want to speak,Vice President may be just a ordinary employees,And not senior executives.This results from cognitive confusion,To exchange and communication,At the same time,Also easy to cause the staff own cognitive dislocation,Easy create personal get rich quick and high low on the state of mind,Against personal growth.

　　此前伴随着新股的连连破发，针对IPO保荐过度包装、造假丑闻频出的质疑也不绝于耳。某券商的明星保荐人就因为胜景山河(002525,股吧)的造假成为“反面典型”，其保荐的5个IPO项目中，有两个3年卖“壳”，一个涉嫌造假。

With the new shares after a break,According to the IPO sponsor excessive packaging/PinChu fraud scandal and questions have heard.A securities trader star guarantor because of choi mountains and rivers(002525,guba)Fraud become the"Opposite typical",The sponsor of the five IPO projects,There are two 3 years to sell"shell",A suspected of cheating.

　　因此，赵恒建议，对于业务职衔的级别设定、名称设计都要同公司的行政管理职衔有效区别开来，在引入国际投行的机制同时，结合国内实际情况，进行相应的调整，形成适合国内行业的标准化规范化的职级设置机制。

therefore,ZhaoHeng Suggestions,The level of business to want to set/Name design will be with the company's administration want to differentiate between effective,In introducing the mechanism of international investment Banks at the same time,With the actual situation,To be made accordingly,Form suitable for domestic industry standardization standardized rank setting mechanism.