The Asia-Pacific banking and payments industry experienced a 29% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by Kotak Mahindra Bank with 5,060 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 a 28% share of the Asia-Pacific banking and payments industry’s total new job postings in Q3 2023, drop 33% over the prior quarter.
Management Occupations drive banking and payments industry hiring activity
Management Occupations, with a share of 28% new job postings, was the occupation with the greatest hiring activity in the Asia-Pacific banking and payments industry in Q3 2023 , ahead of Computer and Mathematical Occupations with a 17% share of new job postings.
The other prominent roles included Business and Financial Operations Occupations with a 13% share in Q3 2023, Office and Administrative Support Occupations with a 7% share and Sales and Related Occupations with a 3% share of new job postings.
Top five companies accounted for 34% of hiring activity
Kotak Mahindra Bank posted 5,060 jobs in Q3 2023 and registered a decline of 30% over the previous quarter, followed by HSBC with 2,991 jobs and a 13% growth. Standard Chartered, with 2,569 jobs, and Deutsche Bank, with 1,830 jobs, recorded a 14% drop and an 11% rise, respectively, while United Overseas Bank recorded a 43% decline with a 1,719 new job postings during Q3 2023.
Regional analysis of hiring in the Asia-Pacific banking and payments industry, Q3 2023
India held the leading share of the Asia-Pacific banking and payments hiring activity with a 46.04% share, a 36% decrease over Q2 2023. Australia was next with 8.50%, four-percentage-point down over the previous quarter.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.