The global banking and payments industry experienced an 8% drop in new job postings related to online payments in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 27% 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 40% share of the global banking and payments industry’s online payments-related total new job postings in Q3 2023, down 5% over the prior quarter.
Computer and Mathematical Occupations drive online payments-related hiring activity
Computer and Mathematical Occupations, with a share of 40%, emerged as the top online payments-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 5% quarter-on-quarter. Management Occupations came in second with a share of 21% in Q3 2023, with new job postings dropping by 18% over the previous quarter.
The other prominent online payments roles include Business and Financial Operations Occupations with an 8% share in Q3 2023, Office and Administrative Support Occupations with a 4% share of new job postings.
Top five companies in banking and payments industry accounted for 86% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were PayPal, Rapyd Financial Network (2016), Nets, Visa, and Kotak Mahindra Bank. Together they accounted for a combined share of 86% of all online payments-related new jobs in the banking and payments industry.
PayPal posted 1,188 online payments-related new jobs in Q3 2023, Rapyd Financial Network (2016) 160 jobs, Nets 36 jobs, Visa 32 jobs, and Kotak Mahindra Bank 23 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with a 46.27% share of total new job postings, Q3 2023
The largest share of online payments-related new job postings in the banking and payments industry in Q3 2023 was in the US with 46.27% followed by India (23.46%) and Mexico (4.96%). The share represented by the US was 13 percentage points higher than the 32.91% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.