The global banking and payments industry experienced a 10% drop in new job postings in Q4 2023 compared with the previous quarter, with the highest share accounted for by Citigroup with 8,005 job postings according to GlobalData’s analysis of banking and payments company job postings. GlobalData’s Banking & Payments: Hiring Trends & Signals Q4 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.
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Notably, Management Occupations jobs accounted for a 19% share of the global banking and payments industry’s new job postings in Q4 2023, up 4% over the prior quarter.
Management Occupations drive banking and payments industry hiring activity
Management Occupations, with a share of 19%, was the occupation with the greatest hiring activity in the global banking and payments industry in Q4 2023, ahead of Business and Financial Operations Occupations with a 15% share of job postings.
The other prominent roles include Office and Administrative Support Occupations with a 14% share in Q4 2023, Computer and Mathematical Occupations with an 8% share and Sales and Related Occupations with a 6% share of new job postings.
Top five companies in banking and payments industry accounted for 17% of hiring activity
The top five companies, in terms of number of new job postings tracked by GlobalData, accounted for a combined 17% share of the overall hiring activity in the global banking and payments industry in Q4 2023.
Citigroup posted 8,005 jobs in Q4 2023 and registered a growth of 59% over the previous quarter, followed by JPMorgan Chase & Co with 7,723 jobs and a 17% growth. Kotak Mahindra Bank with 7,379 jobs and Banco Santander with 5,240 jobs, recorded a 28% growth and a 3% rise, respectively, while HSBC recorded a 10% rise with 4,922 job postings during Q4 2023.
Hiring activity was driven by North America with a 49% share of total new job postings, Q4 2023
North America held the leading share of the new job postings in the global banking and payments industry with a 49% share, a 4% lower over Q3 2023. Asia-Pacific stood next with 24%, registering a 4% decline over the previous quarter.
Europe with a 19% share marked a 10% drop over Q3 2023. The South & Central America and Middle East & Africa accounted for shares of 36% and 2% respectively.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q4 2023, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
