The global banking and payments industry experienced a 12% drop in new job postings related to corporate governance in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 31% 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.
Notably, Management Occupations jobs accounted for an 18% share of the global banking and payments industry’s corporate governance-related total new job postings in Q3 2023, down 18% over the prior quarter.
Management Occupations drive corporate governance-related hiring activity
Management Occupations, with a share of 18%, emerged as the top corporate governance-related job roles within the banking and payments industry in Q3 2023, with new job postings drop by 18% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 15% in Q3 2023, with new job postings dropping by 10% over the previous quarter.
The other prominent corporate governance roles include Office and Administrative Support Occupations with a 14% share in Q3 2023, Computer and Mathematical Occupations with a 9% share of new job postings.
Top five companies in banking and payments industry accounted for 41% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Standard Chartered, Bank of New York Mellon, TD Canada Trust, Edward D Jones & Co, and Bank of Montreal. Together they accounted for a combined share of 41% of all corporate governance-related new jobs in the banking and payments industry.
Standard Chartered posted 3,525 corporate governance-related new jobs in Q3 2023, Bank of New York Mellon 2,059 jobs, TD Canada Trust 2,007 jobs, Edward D Jones & Co 1,378 jobs, and Bank of Montreal 1,048 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 52.59% share of total new job postings, Q3 2023
The largest share of corporate governance-related new job postings in the banking and payments industry in Q3 2023 was in the US with 52.59% followed by Canada (12.97%) and India (8.04%). The share represented by the US was two percentage points lower than the 55.03% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.