"Kickoff Success" Becomes History? New Year Banks Downplay "Kickoff Success" Campaign, Some Have Abandoned It

Financial Associated Press, February 14 (Reporter Peng Kefeng) — The long-standing “Kickoff Bonus” that has troubled bank grassroots staff may become a thing of the past.

Recently, multiple banks have learned that relevant authorities have issued guidance to banking institutions within their jurisdictions, requiring them to downplay the “Kickoff Bonus” campaign and prohibiting the use of the “Kickoff Bonus” name for various assessments or activities.

Traditionally, the New Year is a key time for banks to carry out “Kickoff Bonus” marketing activities as they bid farewell to the old year and welcome the new one.

“Historically, ‘Kickoff Bonus’ meetings are usually held around early January,” a person from a listed bank told the Financial Associated Press. According to routine practice, a few days before the meetings, heads of corporate, retail, wealth management, and other departments hold their own preparatory meetings for the ‘Kickoff Bonus,’ which are then discussed and consensus is reached at the bank’s annual ‘Kickoff Bonus’ meeting.

In recent years, the timing of bank “Kickoff Bonus” activities has been gradually moved earlier—from the traditional January to October or November of previous years, increasing pressure on banks.

“Over the past few years, some local banks’ ‘Kickoff Bonus’ meetings have become somewhat excessive, starting in October or November to initiate related activities, such as deposit gathering or wealth product marketing,” a senior executive from a major bank in central China told the reporter. As industry-wide revenue growth has slowed in recent years, banks across the country have placed increasing importance on the “Kickoff Bonus” campaign, which has inadvertently added considerable pressure on grassroots bank staff and peers.

However, this year’s situation may be different. The reporter’s review found that since January, fewer banks across the country have issued announcements about “Kickoff Bonus” marketing, and some leading listed city commercial banks have not announced related activities, a stark contrast to December of last year.

The Financial Associated Press learned from insiders at multiple banks that relevant authorities have recently continued to hold meetings with local banks, urging them to weaken the “Kickoff Bonus” activities, and in principle, prohibit online marketing and offline activities under the “Kickoff Bonus” name.

“Our bank has already stopped the ‘Kickoff Bonus.’ Staff across various departments still hold marketing activities, but they cannot do so under that name,” a person from a listed bank clearly told the reporter.

Why is this happening? It may be related to excessive competition within the banking industry.

Notably, over recent days, the reporter has learned from bank personnel in several provinces that although the “Kickoff Bonus” label is no longer used, some banks are still following their usual rhythm, increasing promotion of various financial and insurance products during the Spring Festival. Some banks have even changed their terminology, using names like “Spring Action” or “XX Action” to continue assessing the sales, promotion, and expansion of products at their branches.

So, why are banks no longer allowed to hold large-scale “Kickoff Bonus” activities this year? A person from a listed bank further explained that this is closely related to the industry’s effort to “counter involution.” Since last year, regulatory authorities in many regions have held meetings and issued guidance to strengthen self-discipline among banks and oppose “involutionary” competition. The fierce contest for the “Kickoff Bonus” is undoubtedly a manifestation of such “involution” within the banking sector.

“For grassroots staff, this may reduce some pressure. But for mid- and senior-level managers, regardless of whether there is a ‘Kickoff Bonus,’ banks still need to prepare for various tasks at the beginning of the year,” the insider said. They added that the intense competition in the banking industry in 2026 is unlikely to change.