Mei Ri Jing Ji Xin Wen·2026-01-06 12:28Core Insights - The total number of employees in the securities industry is projected to decline to 328,990 by the end of 2025, a decrease of nearly 7,800 from the end of 2024. This marks a historical fluctuation between 320,000 and 360,000 since 2017, with a peak of 354,500 in 2022 [1][2] Group 1: Industry Employment Trends - The overall reduction in industry personnel contrasts with the talent acquisition by internet-based brokerages such as Dongfang Caifu, Guojin Securities, and Maikao Securities, which are experiencing growth in employee numbers [3][4] - Five major brokerages have over 10,000 employees each, accounting for nearly 20% of the total workforce in the industry. These include Guotai Junan (17,800), CITIC Securities (14,200), and others [3] - Some mid-sized brokerages have also seen reductions in personnel, with firms like Guotai Junan and Minsheng Securities losing over 500 employees [3] Group 2: Investment Banking Trends - The number of sponsor representatives, considered the "gold collar" group in investment banking, has decreased for the first time in eight years, falling to 8,519 by the end of 2025, down 293 from 2024 [5][6] - The decline in sponsor representatives is attributed to a slowdown in equity financing and stricter regulatory environments, leading to fewer projects available for these professionals [5][6] Group 3: Wealth Management Dynamics - The number of securities brokers has significantly decreased to a historical low of 22,900 by the end of 2025, down 5,540 from 2024, indicating a shift away from traditional brokerage roles [7] - Conversely, the number of investment advisors has reached a record high of 86,126, reflecting a strategic shift in the industry towards high-quality client services rather than sheer volume [7][8] Group 4: Research Analyst Growth - The number of securities analysts has surpassed 6,056, marking an increase of 338 from 2024, indicating a growing demand for research capabilities within the industry [9][10] - Notable movements among prominent analysts have been observed, with several high-profile analysts changing firms, highlighting the competitive nature of the research sector [9]