The global banking and payments industry noticed a 13.0% drop in IT hiring activity in October 2022 over the previous month, led by US Bank’s 8.6% share, according to GlobalData’s Jobs Analytics database.
The banking and payments industry’s overall hiring activity declined 9.04% when compared with September 2022.
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Noticeably, IT jobs accounted for a 13.64% share of the global banking and payments industry’s hiring activity in October 2022, down 0.93% over the last three-month average share.
According to GlobalData, IT job opportunities available at the end of October 2022 were 15.31% lower when compared with the previous month.
The decrease was a result of 29.36% higher job postings as compared to job closures during the month.
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By GlobalDataSoftware and Web Developers, Programmers, and Testers drive banking and payments IT hiring activity
Software and Web Developers, Programmers, and Testers with a share of 51.53% emerged as the top IT occupation in the banking and payments hiring activity in October 2022, a 35.63% decline over the previous month. Database and Network Administrators and Architects came in second with a share of 15% in October 2022, down 24.19% over the previous month.
The other prominent IT roles include Computer and Information Analysts with a 13.58% share in October 2022, a decline of 14.42% over the previous month, and Miscellaneous Computer Occupations with a 13.37% share in October 2022 and a drop of 19.99% over September 2022.
Top five banking and payments companies by recruitment activity in October 2022
The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 32.16% share in the overall IT recruitment activity of global banking and payments industry during October 2022 over September 2022.
US Bank posted 1,834 IT jobs in October 2022 and registered a drop of 23.23% over the previous month, followed by Citigroup with 1,206 jobs and an 11.71% decline. Erste Group Bank with 881 IT jobs and Barclays with 746 jobs, recorded a 7.7% growth and a 35.75% drop, respectively, while JPMorgan Chase recorded a 71.44% drop with 565 job postings during October 2022.
Regional composition of IT hiring in banking and payments industry
North America emerged as the leading region in the global banking and payments IT hiring activity in October 2022 with a 51.11% share, which marked a 30.99% drop over the previous month.
Asia-Pacific stood next with 22.94%, registering a 32.25% month-on-month decline. Europe was the third leading region with a 21.35% share and a 22.72% drop over September 2022.
In the fourth place was South & Central America with a share of 2.38% and a month-on-month drop of 5.23%. Middle East & Africa stood at the bottom of the table with a share of 2.21%, registering a 28.05% decrease over the previous month.
