Wellesley's Chan on Banking Jobs

The video discusses the ongoing job cuts in the financial sector, with a significant impact on senior bankers, especially in China. It highlights the shift of bankers to other regions like Southeast Asia and the challenges they face due to headcount freezes. The video also covers the downturn in compensation and the potential for Hong Kong to regain its status as a financial hub amidst new crypto regulations.

What percentage of job cuts in Asia are coming from China?

• 50%

• 60%

• 70%

• 80%

Which sectors are primarily affected by the job cuts in China?

• Real estate, tech, and healthcare

• Automotive, retail, and manufacturing

• Education, tourism, and agriculture

• Energy, mining, and construction

What is the likelihood of bankers returning to the market given the current conditions?

• Certain

• Very high

• Low

• Moderate

What are some alternative career paths suggested for bankers facing job cuts?

• Joining a startup or crypto business

• Working in agriculture

• Becoming a teacher

• Entering the hospitality industry

What is one reason for talent returning to Hong Kong?

• Better weather conditions

• New regulations around crypto

• Higher salaries

• Improved public transportation