Last year, many large banks around the world laid off employees on a large scale.
From the announced bank layoff plan, the number is as high as 8,.
Among them, European banks laid off the largest number of employees, accounting for more than 8% of the layoffs in the global banking industry.
Deutsche Bank alone laid off 18, people.
The main reason behind the wave of layoffs is the slowdown of global economic growth. In order to save costs and improve efficiency, banks have cut their manpower expenses.
I thought that the banking industry would get better next year, that is, in 22, but there would be a big outbreak in the beginning of the year.
No way, the bank can only continue to lay off employees to stop bleeding.
It is reported that Citibank will resume layoffs this week, and the layoffs are expected to be about 2,.
The Swedish Commercial Bank plans to lay off about 1, employees in the next two years.
Lloyds Bank of England also announced plans to abolish 639 jobs.
From the global banking industry as a whole, more than 3 banks in Europe, North America, Asia and Africa plan to lay off employees this year.
According to the data compiled by Bloomberg, the total number of layoffs announced by the global banking industry this year has reached 63,785.
The cost of traditional banks is mainly management costs, and layoffs are the most direct means to reduce costs.
According to the Global Banking Outlook Report issued by China Banking Research Institute, the cost-income ratio of banks in developed countries is generally at a high level, and the cost-income ratio of major large banks will reach about 6% in 218.
With such a high cost, it is inevitable for banks to lay off employees when the economy is in recession.
In China, banking has always been regarded as an iron rice bowl, with higher income and stability than that of civil servants, and it is a proper beacon.
Banks work so well. Thanks to the rapid economic development in China, banks have income, so naturally they don't care about recruiting more people and making more money.
But as China's economic growth slows down, what's more important is that after China enters the developed countries in the future, will China's banks become those European and American banks that easily lay off tens of thousands of employees, and once their performance is bad, they will start to lay off employees?
In the foreseeable years, banking work will really be less fragrant.
Well, the bank's iron rice bowl is no longer iron, and it doesn't smell like incense. Can you still study finance?
You know, the Department of Economics and Management in China University has always been admitted with high scores. It was a rare major in those years, and now you tell me it's no good?
In fact, the development of artificial intelligence technology alone is enough to shake the work of banks without waiting for China to enter a developed country.
In October last year, Wells Fargo issued a 225-page report, which specifically studied the impact of science and technology on the entire financial services industry.
According to the report, banks actually invest more in science and technology than any other industry, with an annual investment of about $15 billion.
The larger a bank is, the more it attaches importance to investment in science and technology, because science and technology will determine the core competitiveness of a bank.
For example, big data technology can enable banks to achieve more accurate sales, and artificial intelligence technology can greatly reduce the cost of loan processing.
As a result of this investment trend, American banks will lay off 2, people in the next decade.
Banks in China will certainly not lag behind in intelligence.
In fact, a similar trend has been observed in China. For example, the four major banks in China have laid off 8, people in recent years due to the intelligent banking outlets, and this layoff plan is still going on.
Xiangbobo's financial major is failing. What should I do? Is everyone going to learn programming?
That's definitely not true. Finance is a very professional subject. No matter how artificial intelligence develops, people need to study it.
To be sure, if you want to study finance, you'd better be admitted to top schools, such as Peking University, Tsinghua, Shangcai, Fudan University, National People's Congress and Ivy League universities in the United States.
In this way, you will have a bright future in the financial industry.
Finance is actually a big industry, with many sub-occupations, and the replacement rate of artificial intelligence in each sub-occupation is also very different.
In the financial industry, the probability that about 6% of jobs are replaced by artificial intelligence is extremely high, and the replacement rate is over 9%.
However, there are also 25% positions with low artificial intelligence replacement probability, less than 3%.
What kind of occupation will be replaced with a 9% probability?
It's not just the bank counter staff.
Budget analysts, insurance contractors, accountants, tax inspectors, and even loan officers who are responsible for lending money all belong to this category.
This kind of position has some common features, that is, there are many repeatable details in their work contents and clear task objectives, so it is easy for computers to code with algorithms and form programs.
For example, Ant Financial now relies on big data analysis, and lending does not require manual approval. If you apply, you can approve the money in two seconds.
These are all "codeable" jobs. When artificial intelligence comes, it is likely to be eliminated.
If you want to have a simple and rude method to judge, then most grass-roots and middle-level jobs in the financial industry are actually "codeable".
What kind of financial profession can't be coded and replaced?
The job of a banker.
Most of their jobs are "finding resources, coordinating relationships and balancing interests"-this kind of occupation also has a feature, that is "people-oriented".
It is precisely this skill that cannot be programmed.
There are excellent investors like Buffett. Although they can do a lot of data analysis, it seems that artificial intelligence can do it.
But in fact, the final decision depends on experience, intuition, judgment and so on.
A capability model like this can't be easily replaced by artificial intelligence.
If we still judge in a simple and rude way, that is, a few positions at the top of the pyramid in the financial industry will not be replaced.
These positions are scarce, so naturally there is a high threshold for talent selection. For example, you have to graduate from a top prestigious school, have a high degree of education and even have a good family background.
87% of fund managers in China have graduated from 12 universities.
which 12 hospitals?
Basically, it's colleges and universities of Tsinghua, Peking University, Fudan University and Shangcai.
The senior positions of top private equity funds and investment banks are the patents of Ivy League and Qingbei.
If your family is superior, or you can be admitted to an Ivy League school, then studying finance is still a good choice, because you are likely to become a few talents at the top of the pyramid in this industry.
But if you can't do it, don't study finance, because after you graduate, you will probably work in the grass-roots level, and the risk of being laid off in the future is very high.
In the banking industry, the iron rice bowl is really gone, but the golden rice bowl is still valuable. If you have no education, connections and ability to climb to the top, give up and seek other ways out early, and don't wait to be laid off before you find that there is no way out.