The global banking and payments industry experienced a 3% drop in new job postings related to mobile payments in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 23% decrease versus Q4 2022. 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, Office and Administrative Support Occupations jobs accounted for a 30% share of the global banking and payments industry’s mobile payments-related total new job postings in Q4 2023, down 21% over the prior quarter.
Office and Administrative Support Occupations drive mobile payments-related hiring activity
Office and Administrative Support Occupations, with a share of 30%, emerged as the top mobile payments-related job roles within the banking and payments industry in Q4 2023, with new job postings drop by 21% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 19% in Q4 2023, with new job postings dropping by 1% over the previous quarter.
The other prominent mobile payments roles include Management Occupations with a 13% share in Q4 2023, Sales and Related Occupations with a 11% share of new job postings.
Top five companies in banking and payments industry accounted for 73% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were Visa, Wells Fargo & Co, Bank of America, Cadence Bank, and Canadian Imperial Bank of Commerce. Together they accounted for a combined share of 73% of all mobile payments-related new jobs in the banking and payments industry.
Visa posted 2,517 mobile payments-related new jobs in Q4 2023, Wells Fargo & Co 1,324 jobs, Bank of America 1,132 jobs, Cadence Bank 1,056 jobs, and Canadian Imperial Bank of Commerce 958 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 62.42% share of total new job postings, Q4 2023
The largest share of mobile payments-related new job postings in the banking and payments industry in Q4 2023 was in the US with 62.42% followed by Canada (15.29%) and India (6.11%). The share represented by the US was six percentage points lower than the 68.87% share it accounted for in Q3 2023.
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.
