The global banking and payments industry experienced a 21% drop in new job postings related to corporate governance in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 10% decrease versus Q1 2022. Corporate Governance is a growing trend that is affecting all industries, including the Banking & Payments industry. GlobalData’s ESG (Environmental, Social and Governance) in Payments – Thematic Intelligence report details the main trends, industry analysis, M&A activity and case studies in the market. Buy the report here.
Notably, Management Occupations jobs accounted for a 17% share of the global banking and payments industry’s corporate governance-related total new job postings in Q1 2023, down 28% over the prior quarter.
Management Occupations drive corporate governance-related hiring activity
Management Occupations, with a share of 17%, emerged as the top corporate governance-related job roles within the banking and payments industry in Q1 2023, with new job postings drop by 28% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 15% in Q1 2023, with new job postings dropping by 24% over the previous quarter.
The other prominent corporate governance roles include Office and Administrative Support Occupations with a 15% share in Q1 2023, Computer and Mathematical Occupations with a 11% share of new job postings.
Top five companies in banking and payments industry accounted for 38% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were Standard Chartered, HDFC Bank, Citigroup, Edward D Jones & Co, and US Bank. Together they accounted for a combined share of 38% of all corporate governance-related new jobs in the banking and payments industry.
Standard Chartered posted 4,700 corporate governance-related new jobs in Q1 2023, HDFC Bank 2,209 jobs, Citigroup 2,123 jobs, Edward D Jones & Co 1,662 jobs, and US Bank 1,357 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 39.49% share of total new job postings, Q1 2023
The largest share of corporate governance-related new job postings in the banking and payments industry in Q1 2023 was in the US with 39.49% followed by India (21.25%) and Canada (8.03%). The share represented by the US was one percentage point higher than the 38.58% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on ESG (Environmental, Social and Governance) in Payments - Thematic Intelligence buy the report here.