The global banking and payments industry experienced a 33% drop in new job postings related to real-time payments in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 56% 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.
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Notably, Management Occupations jobs accounted for a 27% share of the global banking and payments industry’s real-time payments-related total new job postings in Q3 2023, down 21% over the prior quarter.
Management Occupations drive real-time payments-related hiring activity
Management Occupations, with a share of 27%, emerged as the top real-time payments-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 21% quarter-on-quarter. Computer and Mathematical Occupations came in second with a share of 25% in Q3 2023, with new job postings dropping by 39% over the previous quarter.
The other prominent real-time payments roles include Business and Financial Operations Occupations with a 16% share in Q3 2023, Office and Administrative Support Occupations with a 2% share of new job postings.
Top five companies in banking and payments industry accounted for 44% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Visa, Mastercard, US Bank, Interac, and Deutsche Bank. Together they accounted for a combined share of 44% of all real-time payments-related new jobs in the banking and payments industry.
Visa posted 77 real-time payments-related new jobs in Q3 2023, Mastercard 57 jobs, US Bank 52 jobs, Interac 45 jobs, and Deutsche Bank 20 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 44.52% share of total new job postings, Q3 2023
The largest share of real-time payments-related new job postings in the banking and payments industry in Q3 2023 was in the US with 44.52% followed by India (15.19%) and the UK (9.72%). The share represented by the US was nine percentage points lower than the 53.62% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 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.
