The global banking and payments industry experienced a 10% rise in new job postings related to digital banking in Q2 2024 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 12% increase versus Q2 2023. GlobalData’s Banking & Payments: Hiring Trends & Signals Q2 2024 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 30% share of the global banking and payments industry’s digital banking-related total new job postings in Q2 2024, up 26% over the prior quarter.
Office and Administrative Support Occupations drive digital banking-related hiring activity
Office and Administrative Support Occupations, with a share of 30%, emerged as the top digital banking-related job roles within the banking and payments industry in Q2 2024, with new job postings rising by 26% quarter-on-quarter. Sales and Related Occupations came in second with a share of 23% in Q2 2024, with new job postings rising by 6% over the previous quarter.
The other prominent digital banking roles include Business and Financial Operations Occupations with a 13% share in Q2 2024, Management Occupations with a 8% share of new job postings.
Top five companies in banking and payments industry accounted for 45% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2024 were Wells Fargo & Co, Regions Financial, Desjardins Group, Discover Financial Services, and Kotak Mahindra Bank. Together they accounted for a combined share of 45% of all digital banking-related new jobs in the banking and payments industry.
Wells Fargo & Co posted 3,389 digital banking-related new jobs in Q2 2024, Regions Financial 1,832 jobs, Desjardins Group 1,075 jobs, Discover Financial Services 882 jobs, and Kotak Mahindra Bank 846 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 62.63% share of total new job postings, Q2 2024
The largest share of digital banking-related new job postings in the banking and payments industry in Q2 2024 was in the US with 62.63% followed by Canada (15.86%) and India (9.75%). The share represented by the US was three percentage points higher than the 60.06% share it accounted for in Q1 2024.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q2 2024, 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.
