The global banking and payments industry experienced a 15% drop in new job postings related to cybersecurity in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 48% decrease versus Q2 2022. GlobalData’s Cybersecurity in Banking – Thematic Research market report provides a detailed understanding on how Cybersecurity impacts the value chain in the Banking & Payments sector, and the leading Cybersecurity adopters and vendors in the market. Buy the report here.
Notably, Computer and Mathematical Occupations jobs accounted for a 27% share of the global banking and payments industry’s cybersecurity-related total new job postings in Q2 2023, down 27% over the prior quarter.
Computer and Mathematical Occupations drive cybersecurity-related hiring activity
Computer and Mathematical Occupations, with a share of 27%, emerged as the top cybersecurity-related job roles within the banking and payments industry in Q2 2023, with new job postings drop by 27% quarter-on-quarter. Management Occupations came in second with a share of 17% in Q2 2023, with new job postings dropping by 9% over the previous quarter.
The other prominent cybersecurity roles include Business and Financial Operations Occupations with a 9% share in Q2 2023, Installation, Maintenance, and Repair Occupations with a 6% share of new job postings.
Top five companies in banking and payments industry accounted for 27% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2023 were US Bank, Wells Fargo & Co, Citigroup, Standard Chartered, and HSBC. Together they accounted for a combined share of 27% of all cybersecurity-related new jobs in the banking and payments industry.
US Bank posted 1,167 cybersecurity-related new jobs in Q2 2023, Wells Fargo & Co 523 jobs, Citigroup 455 jobs, Standard Chartered 428 jobs, and HSBC 313 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with a 48.14% share of total new job postings, Q2 2023
The largest share of cybersecurity-related new job postings in the banking and payments industry in Q2 2023 was in the US with 48.14% followed by India (12.00%) and the UK (6.04%). The share represented by the US was five percentage points higher than the 42.85% share it accounted for in Q1 2023.
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