The industry is under pressure. While few companies have publicly admitted it, pay cuts in banking and investment firms are a hot topic on Chinese social media.

Posts about falling salaries have generated millions of views in recent months. And hashtags like “changing career from finance” and “quitting finance” have gained more than two million views on the popular social media platform Xiaohongshu.

Some finance workers have been seeing their income shrink since the start of the pandemic but many see one viral social media post as a turning point.

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