Banks' Autumn Recruitment: A Quiet Revolution of Efficiency and Transformation
Hello everyone, I'm your financial observer. Recently, the recruitment announcements for the class of 2027 from major banks have been flooding in. If you, your children, or friends are considering working in banks or are interested in the job market, the signals in this news are definitely worth pondering.
In simple terms, there are two seemingly contradictory yet closely related trends in this year's bank recruitment: the total number of positions is decreasing, but the salaries of the employees staying are increasing; traditional teller positions are disappearing, while tech-savvy “multi-skilled talents” are in high demand.
Below, I will break down this news into five key aspects to help you fully understand the underlying logic.
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1. **Position Reduction: From Expansion to Streamlining**
The most obvious statistic is that the number of positions being offered has decreased. According to reports, the four major state-owned banks (ICBC, ABC, BOC, and CCB) have offered approximately 64,000 positions this year, which is more than 7,000 fewer than last year. Looking at the trend over the past three years:
- Class of 2025: 77,600 positions
- Class of 2026: 71,500 positions
- Class of 2027: 64,000 positions
What does this mean?
In the past, banks relied on a large workforce, with many branches and employees, even if it meant lower efficiency. But now, banks have realized that this model is too costly and unnecessary.
- Physical branches are decreasing: More people handle their transactions through mobile apps, so fewer tellers are needed.
- Automation is replacing manual work: Many repetitive tasks (such as data entry and simple reviews) are automated, eliminating the need for human staff.
This reduction in positions is not because banks are running out of money or going bankrupt; rather, they are actively streamlining their operations to achieve higher efficiency per employee.
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2. **Employee Reduction: A Retirement Wave Meets Digitalization**
The decrease in recruitment is just one aspect of the changing workforce. Another key factor is the continuous decline in the total number of employees. As of June this year, the total number of employees in 42 listed banks had decreased by 35,500, with the six major state-owned banks alone losing more than 30,000 employees.
Why is the reduction so significant?
One often overlooked factor is the retirement wave. Banks are traditional industries, and many older employees are retiring. In the past, when one employee retired, a new one was hired to maintain the same workforce. However, with digitalization, the need for new hires may be much lower, as systems can handle some of the work.
- Agricultural Bank of China: Has the largest workforce (446,900 employees) and the largest reduction (10,900 employees).
- Industrial and Commercial Bank of China: Reduced by more than 7,200 employees.
This indicates a profound renewal within the banking industry. The older generation, with traditional skills, is leaving, and the younger generation, with digital expertise, is taking their place, leading to significant changes in the age and skill composition of the workforce.
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3. **Salary Increases: Fewer Employees, Larger “Pie,” Greater Per Capita Share**
With fewer employees, you might think salaries should decrease. However, the opposite is true—salaries are increasing. In the first half of 2026, the average salary in the banking industry was 206,600 yuan, an increase of 2,600 yuan from the first half of 2025, with a monthly average of 34,400 yuan.
- First half of 2024: Average salary showed negative growth due to economic challenges after the pandemic.
- First half of 2025: Slight increase of 1,300 yuan.
- First half of 2026: Increase expanded to 2,600 yuan.
Why are salaries rising despite fewer employees?
This is due to improved performance and reduced costs.
1. Economic recovery: Banks are seeing increased profits.
2. Cost savings: With fewer employees, overall labor, office, and management costs are lower.
3. Profit distribution: Banks are passing on these savings and additional profits to the remaining employees.
For those who stay in the industry, this is good news. Although competition is fiercer, the stability and income are better. Except for the Postal Savings Bank of China, the average monthly salary in the other five major state-owned banks has increased, with the Bank of China leading at 30,100 yuan.
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4. **Recruitment Shift: No Longer Just “Finance Graduates” – “Tech + Finance” Combinations Are Needed**
This is the biggest change in this year's recruitment. If you think banks only hire finance or accounting graduates, you’re wrong.
Tech positions are now a standard requirement, and the standards are high. In the past, banks might have hired programmers to fix computers or maintain systems. Now, they need “bridge-type talents” who understand both technology and business.
- What are “bridge-type talents”?
For example, China Merchants Bank is looking for candidates who understand both AI and business or both IT and business.
This means that if you can code but don’t understand loans, risk management, or customer experience, you might not be suitable. Conversely, if you only know finance but don’t know how to analyze data or apply AI, you might not be qualified for core positions.
- Specific job roles:
- Bank of China: Seeking software developers, data analysts, and information security professionals with Python/Java/SQL skills and project experience.
- Minsheng Bank: Promoting the “STEM + Finance” program, prioritizing candidates with science, technology, engineering, mathematics, or financial mathematics backgrounds.
- Ping An Bank: Providing practical training to develop talents who understand business, technology, and innovation.
- Ningbo Bank: Focusing on fintech, with roles in algorithm engineering and data development.
In simple terms: Banks no longer need clerks or just code writers; they need financial experts with technical skills or technical experts with financial knowledge who can use technology to solve financial problems (e.g., using AI to detect fraud or recommend financial products).
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5. **Deeper Logic: The Banking Industry is Moving from Labor-Intensive to Technology-Intensive**
Putting these four points together, we see the complete picture of the industry's transformation:
1. In the past: Banks made money through people—opening branches, hiring tellers, and acquiring customers.
2. Now: Banks make money through data and algorithms:
- Front end: Customers use apps; no need for tellers.
- Middle end: Risk management, approval, and marketing are automated with big data models.
- Back end: System maintenance, security, and innovation rely on technical expertise.
What does this mean for job seekers?
- For those with only a finance background: The entry barrier has risen. You need to understand finance and also have some knowledge of data, programming, and logical analysis.
- For those with only a technical background: Opportunities are increasing, but the requirements have changed. You can’t just code; you need to understand the business context and the purpose of your code.
- For those with a dual background: You are in high demand, such as those with degrees in financial engineering, fintech, data science, or those who have self-taught skills in Python or SQL.
In summary:
Banks are no longer the “stable jobs” they used to be; they are now high-tech industries. They are shedding inefficient labor to focus on technology and business innovation that create greater value. For young people, technical skills combined with business knowledge and practical experience are the keys to landing core positions in banks.