The global banking and payments industry experienced a 27% drop in new job postings related to ecommerce in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 52% decrease versus Q3 2022. GlobalData’s Banking & Payments: Hiring Trends & Signals Q3 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the industry, facilitating anticipation of future workforce needs. Buy the report here.
Notably, Management Occupations jobs accounted for a 23% share of the global banking and payments industry’s ecommerce-related total new job postings in Q3 2023, down 39% over the prior quarter.
Management Occupations drive ecommerce-related hiring activity
Management Occupations, with a share of 23%, emerged as the top ecommerce-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 39% quarter-on-quarter. Computer and Mathematical Occupations came in second with a share of 17% in Q3 2023, with new job postings dropping by 28% over the previous quarter.
The other prominent ecommerce roles include Business and Financial Operations Occupations with an 8% share in Q3 2023, Sales and Related Occupations with a 5% share of new job postings.
Top five companies in banking and payments industry accounted for 45% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Travelex, Visa, Rapyd Financial Network (2016), PayPal, and Mastercard. Together they accounted for a combined share of 45% of all ecommerce-related new jobs in the banking and payments industry.
Travelex posted 364 ecommerce-related new jobs in Q3 2023, Visa 165 jobs, Rapyd Financial Network (2016) 164 jobs, PayPal 134 jobs, and Mastercard 126 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with a 27.15% share of total new job postings, Q3 2023
The largest share of ecommerce-related new job postings in the banking and payments industry in Q3 2023 was in the US with 27.15% followed by the UK (21.39%) and India (10.76%). The share represented by the US was one percentage point lower than the 28.50% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.