The North American banking and payments industry experienced a 16% drop in new job postings in Q4 2023 compared with the previous quarter, with the highest share accounted for by JPMorgan Chase & Co with 5,209 job postings, according to GlobalData’s analysis of banking and payments company job postings. 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 21% share of the North American banking and payments industry’s total new job postings in Q4 2023, drop 9% over the prior quarter.
Office and Administrative Support Occupations drive banking and payments industry hiring activity
Office and Administrative Support Occupations, with a share of 21% new job postings, was the occupation with the greatest hiring activity in the North American banking and payments industry in Q4 2023 , ahead of Business and Financial Operations Occupations with a 17% share of new job postings.
The other prominent roles included Management Occupations with a 16% share in Q4 2023, Computer and Mathematical Occupations with a 10% share and Sales and Related Occupations with a 10% share of new job postings.
Top five companies accounted for 20% of hiring activity
JPMorgan Chase & Co posted 5,209 jobs in Q4 2023 and registered a growth of 14% over the previous quarter, followed by Citigroup with 4,511 jobs and a 17% growth. Cadence Bank, with 3,542 jobs, and PNC Financial Services Group, with 3,121 jobs, recorded a 42% rise and a 2% drop, respectively, while Bank of America recorded a 22% increase with a 2,842 new job postings during Q4 2023.
Regional analysis of hiring in the North American banking and payments industry, Q4 2023
The US held the leading share of the North American banking and payments hiring activity with an 82.97% share, a 21% decrease over Q3 2023. Canada was next with 11.45%, four-percentage-point up over the previous quarter.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q4 2023, buy the report here.
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