The global banking and payments industry experienced a 19% rise in new job postings related to financial wellness in Q2 2024 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 43% 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.
Notably, Office and Administrative Support Occupations jobs accounted for a 20% share of the global banking and payments industry’s financial wellness-related total new job postings in Q2 2024, up 29% over the prior quarter.
Office and Administrative Support Occupations drive financial wellness-related hiring activity
Office and Administrative Support Occupations, with a share of 20%, emerged as the top financial wellness-related job roles within the banking and payments industry in Q2 2024, with new job postings rising by 29% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 18% in Q2 2024, with new job postings rising by 18% over the previous quarter.
The other prominent financial wellness roles include Management Occupations with a 14% share in Q2 2024, Sales and Related Occupations with a 13% share of new job postings.
Top five companies in banking and payments industry accounted for 51% 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, Bank of America, PNC Financial Services Group, FMR, and Fifth Third Bancorp. Together they accounted for a combined share of 51% of all financial wellness-related new jobs in the banking and payments industry.
Wells Fargo & Co posted 4,047 financial wellness-related new jobs in Q2 2024, Bank of America 3,449 jobs, PNC Financial Services Group 2,454 jobs, FMR 1,515 jobs, and Fifth Third Bancorp 1,333 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 76.67% share of total new job postings, Q2 2024
The largest share of financial wellness-related new job postings in the banking and payments industry in Q2 2024 was in the US with 76.67% followed by India (6.65%) and Australia (5.92%). The share represented by the US was two percentage points lower than the 78.71% 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’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.
