The North American banking and payments industry experienced a 7% drop in new job postings in Q2 2023 compared with the previous quarter, with the highest share accounted for by US Bank with 18,511 job postings, according to GlobalData’s analysis of banking and payments company job postings. Buy the report here.
Notably, Management Occupations jobs accounted for a 15% share of the North American banking and payments industry’s total new job postings in Q2 2023, drop 16% over the prior quarter.
Management Occupations drive banking and payments hiring activity
Management Occupations, with a share of 15% new job postings, was the occupation with the greatest hiring activity in the North American banking and payments industry in Q2 2023 , ahead of Office and Administrative Support Occupations with a 13% share of new job postings.
The other prominent roles included Business and Financial Operations Occupations with a 13% share in Q2 2023, Computer and Mathematical Occupations with an 11% share and Sales and Related Occupations with a 9% share of new job postings.
Top five companies accounted for 36% of hiring activity
US Bank posted 18,511 jobs in Q2 2023 and registered a growth of 15% over the previous quarter, followed by Citigroup with 15,456 jobs and a 66% growth. Wells Fargo & Co, with 9,318 jobs, and JPMorgan Chase & Co, with 6,481 jobs, recorded a 2% drop and a 43% drop, respectively, while Edward D Jones & Co recorded a 2% increase with a 4,088 new job postings during Q2 2023.
Regional analysis of hiring in the North American banking and payments industry, Q2 2023
The US held the leading share of the North American banking and payments hiring activity with an 89.46% share, a 3% decrease over Q1 2023. Canada was next with 6.60%, four-percentage-point down over the previous quarter.