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China’s Bankers Face Smaller Bonuses, Fewer Job Opportunities

  • Firms scrutinize costs, cut jobs as business outlook dims
  • Seventy analysts applied for an opening in oversupplied sector
New Recruits Undergo Training at Bank of Taizhou Co., China's Most Profitable Lender
Photographer: Qilai Shen/Bloomberg
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China’s bankers and traders are facing smaller bonuses and fewer job opportunities, as the nation’s securities industry stutters after years of rapid growth.

The sector, adjusting to a slowing economy, tightening credit and plunging stocks, last year saw its first annual headcount cut since 2014, the earliest official data available. A drop in stock sales meant the majority of securities firms didn’t win a single mandate last year, and a third of them won’t pay bonuses for 2018, according to Eric Zhu, a Shanghai-based manager at global recruiter Morgan McKinley.