The global banking and payments industry experienced an 18% drop in new job postings related to social responsibility in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 36% 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, Management Occupations jobs accounted for a 20% share of the global banking and payments industry’s social responsibility-related total new job postings in Q3 2023, down 20% over the prior quarter.
Management Occupations drive social responsibility-related hiring activity
Management Occupations, with a share of 20%, emerged as the top social responsibility-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 20% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 14% in Q3 2023, with new job postings dropping by 20% over the previous quarter.
The other prominent social responsibility roles include Computer and Mathematical Occupations with a 10% share in Q3 2023, Office and Administrative Support Occupations with a 10% share of new job postings.
Top five companies in banking and payments industry accounted for 43% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Standard Chartered, Edward D Jones & Co, Bank of New York Mellon, Regions Financial, and PayPal. Together they accounted for a combined share of 43% of all social responsibility-related new jobs in the banking and payments industry.
Standard Chartered posted 3,592 social responsibility-related new jobs in Q3 2023, Edward D Jones & Co 2,682 jobs, Bank of New York Mellon 2,141 jobs, Regions Financial 2,135 jobs, and PayPal 1,188 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with a 58.71% share of total new job postings, Q3 2023
The largest share of social responsibility-related new job postings in the banking and payments industry in Q3 2023 was in the US with 58.71% followed by India (8.86%) and the UK (4.35%). The share represented by the US was two percentage points higher than the 56.73% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.