The Australian banking and payments industry experienced a 20% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by Commonwealth Bank of Australia with 914 job postings according to GlobalDataâ€™s analysis of banking and payments company job postings. 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 an 18% share of the Australian banking and payments industry new job postings in Q3 2023, down by 19% over the prior quarter.
Management Occupations drive banking and payments industry hiring activity
Of the industry's total hiring activity, the highest number of new job postings were for Management Occupations, which accounted for 18% of the total new job postings in Q3 2023 and were down by 62% year-on-year. Second highest were Computer and Mathematical Occupations, which accounted for 17% and drop by 66% year-on-year, and third highest were Office and Administrative Support Occupations, which were 3% of the new job postings and 54% lower year-on-year.
Top five companies in banking and payments industry accounted for 65% of hiring activity
The highest number of jobs were posted by Commonwealth Bank of Australia with 914, followed by ANZ Group with 699, while the highest increase was at Westpac Banking at 19%.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.