The global banking and payments industry experienced a 4% drop in new job postings related to financial wellness in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 3% increase 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, Business and Financial Operations Occupations jobs accounted for a 21% share of the global banking and payments industry’s financial wellness-related total new job postings in Q3 2023, down 0.08% over the prior quarter.
Business and Financial Operations Occupations drive financial wellness-related hiring activity
Business and Financial Operations Occupations, with a share of 21%, emerged as the top financial wellness-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 0.08% quarter-on-quarter. Sales and Related Occupations came in second with a share of 21% in Q3 2023, with new job postings dropping by 7% over the previous quarter.
The other prominent financial wellness roles include Office and Administrative Support Occupations with a 21% share in Q3 2023, Management Occupations with a 14% share of new job postings.
Top five companies in banking and payments industry accounted for 58% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Wells Fargo & Co, PNC Financial Services Group, Bank of America, Regions Financial, and OneMain. Together they accounted for a combined share of 58% of all financial wellness-related new jobs in the banking and payments industry.
Wells Fargo & Co posted 3,087 financial wellness-related new jobs in Q3 2023, PNC Financial Services Group 2,606 jobs, Bank of America 2,090 jobs, Regions Financial 1,079 jobs, and OneMain 1,039 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with an 80.85% share of total new job postings, Q3 2023
The largest share of financial wellness-related new job postings in the banking and payments industry in Q3 2023 was in the US with 80.85% followed by Australia (7.17%) and the UK (2.58%). The share represented by the US was one percentage point higher than the 79.49% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.