The global banking and payments industry experienced a 30% drop in new job postings related to future of work in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 58% 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, Computer and Mathematical Occupations jobs accounted for a 30% share of the global banking and payments industry’s future of work-related total new job postings in Q3 2023, down 31% over the prior quarter.
Computer and Mathematical Occupations drive future of work-related hiring activity
Computer and Mathematical Occupations, with a share of 30%, emerged as the top future of work-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 31% quarter-on-quarter. Management Occupations came in second with a share of 15% in Q3 2023, with new job postings dropping by 35% over the previous quarter.
The other prominent future of work roles include Business and Financial Operations Occupations with an 11% share in Q3 2023, Office and Administrative Support Occupations with a 6% share of new job postings.
Top five companies in banking and payments industry accounted for 26% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Deutsche Bank, JPMorgan Chase & Co, Standard Chartered, HSBC, and Citigroup. Together they accounted for a combined share of 26% of all future of work-related new jobs in the banking and payments industry.
Deutsche Bank posted 3,036 future of work-related new jobs in Q3 2023, JPMorgan Chase & Co 1,062 jobs, Standard Chartered 781 jobs, HSBC 740 jobs, and Citigroup 707 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with a 43.78% share of total new job postings, Q3 2023
The largest share of future of work-related new job postings in the banking and payments industry in Q3 2023 was in the US with 43.78% followed by India (20.84%) and the UK (4.47%). The share represented by the US was six percentage points lower than the 49.36% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.