HSBC Says Bank May 'Materially' Raise Staff Pay in 2023

The video discusses the challenges banks face in balancing cost-cutting with inflation pressures. HSBC is considering salary hikes to retain staff, despite having a large workforce compared to Goldman Sachs. This issue is prevalent among major banks in the US and Europe. HSBC's CFO hints at upcoming cost-cutting measures, with some banks already reducing mortgage-related positions due to industry impacts. The video explores how these factors influence compensation strategies.

What is one of the main challenges banks face according to the video?

• Balancing cost-cutting with inflation

• Expanding into new markets

• Reducing the number of employees

• Increasing the number of branches

How many employees does HSBC have compared to Goldman Sachs?

• HSBC has about the same number of employees as Goldman Sachs

• HSBC has no employees

• HSBC has fewer employees than Goldman Sachs

• HSBC has more employees than Goldman Sachs

What is a common challenge for major banks in the US and Europe?

• Opening new branches

• Retaining talent while managing costs

• Increasing interest rates

• Reducing customer service

What kind of measures did the HSBC CFO mention?

• Expansive measures

• Brutal measures

• Conservative measures

• Generous measures

What industry is being affected by the banks' cost-cutting measures?

• Insurance

• Investment banking

• Retail banking

• Mortgage-related banking