The global banking and payments industry experienced a 23% drop in new job postings related to social responsibility in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 53% 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, Management Occupations jobs accounted for a 24% share of the global banking and payments industry’s social responsibility-related total new job postings in Q4 2023, down 12% over the prior quarter.
Management Occupations drive social responsibility-related hiring activity
Management Occupations, with a share of 24%, emerged as the top social responsibility-related job roles within the banking and payments industry in Q4 2023, with new job postings drop by 12% quarter-on-quarter. Office and Administrative Support Occupations came in second with a share of 15% in Q4 2023, with new job postings rising by 19% over the previous quarter.
The other prominent social responsibility roles include Business and Financial Operations Occupations with a 13% share in Q4 2023, Computer and Mathematical Occupations with a 10% share of new job postings.
Top five companies in banking and payments industry accounted for 29% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were Standard Chartered, Regions Financial, Bank of New York Mellon, Kotak Mahindra Bank, and Citigroup. Together they accounted for a combined share of 29% of all social responsibility-related new jobs in the banking and payments industry.
Standard Chartered posted 1,883 social responsibility-related new jobs in Q4 2023, Regions Financial 1,781 jobs, Bank of New York Mellon 1,521 jobs, Kotak Mahindra Bank 680 jobs, and Citigroup 616 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 52.82% share of total new job postings, Q4 2023
The largest share of social responsibility-related new job postings in the banking and payments industry in Q4 2023 was in the US with 52.82% followed by India (11.99%) and the UK (5.48%). The share represented by the US was five percentage points lower than the 57.47% 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.
