The global banking and payments industry experienced a 42% drop in new job postings related to cybersecurity in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 39% decrease versus Q1 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 Q1 2023, down 48% 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 Q1 2023, with new job postings drop by 48% quarter-on-quarter. Management Occupations came in second with a share of 15% in Q1 2023, with new job postings dropping by 46% over the previous quarter.
The other prominent cybersecurity roles include Business and Financial Operations Occupations with a 9% share in Q1 2023, Installation, Maintenance, and Repair Occupations with a 4% share of new job postings.
Top five companies in banking and payments industry accounted for 30% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were US Bank, Barclays, JPMorgan Chase & Co, Standard Chartered, and Wells Fargo & Co. Together they accounted for a combined share of 30% of all cybersecurity-related new jobs in the banking and payments industry.
US Bank posted 1,329 cybersecurity-related new jobs in Q1 2023, Barclays 1,033 jobs, JPMorgan Chase & Co 460 jobs, Standard Chartered 434 jobs, and Wells Fargo & Co 361 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 43.82% share of total new job postings, Q1 2023
The largest share of cybersecurity-related new job postings in the banking and payments industry in Q1 2023 was in the US with 43.82% followed by the UK (13.04%) and India (12.62%). The share represented by the US was three percentage points lower than the 47.10% share it accounted for in Q4 2022.
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