The global banking and payments industry experienced a 42% drop in new job postings related to cybersecurity in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 39% decrease versus Q1 2022. GlobalData’s Cybersecurity in Banking – Thematic Research market report provides a detailed understanding on how Cybersecurity impacts the value chain in the Banking & Payments sector, and the leading Cybersecurity adopters and vendors in the market. Buy the report here.
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Notably, Computer and Mathematical Occupations jobs accounted for a 27% share of the global banking and payments industry’s cybersecurity-related total new job postings in Q1 2023, down 48% over the prior quarter.
Computer and Mathematical Occupations drive cybersecurity-related hiring activity
Computer and Mathematical Occupations, with a share of 27%, emerged as the top cybersecurity-related job roles within the banking and payments industry in Q1 2023, with new job postings drop by 48% quarter-on-quarter. Management Occupations came in second with a share of 15% in Q1 2023, with new job postings dropping by 46% over the previous quarter.
The other prominent cybersecurity roles include Business and Financial Operations Occupations with a 9% share in Q1 2023, Installation, Maintenance, and Repair Occupations with a 4% share of new job postings.
Top five companies in banking and payments industry accounted for 30% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were US Bank, Barclays, JPMorgan Chase & Co, Standard Chartered, and Wells Fargo & Co. Together they accounted for a combined share of 30% of all cybersecurity-related new jobs in the banking and payments industry.
US Bank posted 1,329 cybersecurity-related new jobs in Q1 2023, Barclays 1,033 jobs, JPMorgan Chase & Co 460 jobs, Standard Chartered 434 jobs, and Wells Fargo & Co 361 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 43.82% share of total new job postings, Q1 2023
The largest share of cybersecurity-related new job postings in the banking and payments industry in Q1 2023 was in the US with 43.82% followed by the UK (13.04%) and India (12.62%). The share represented by the US was three percentage points lower than the 47.10% share it accounted for in Q4 2022.
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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.
