The US banking and payments industry experienced a 3% drop in new job postings in Q2 2023 compared with the previous quarter, with the highest share accounted for by US Bank with 18,281 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 US’s banking and payments industry new job postings in Q2 2023, down by 14% over the prior quarter.
Management Occupations drive banking and payments hiring activity
Of the industry's total hiring activity, the highest number of new job postings were for Management Occupations, which accounted for 15% of the total new job postings in Q2 2023 and were down by 43% year-on-year. Second highest were Office and Administrative Support Occupations, which accounted for 13% and drop by 38% year-on-year, and third highest were Business and Financial Operations Occupations, which were 14% of the new job postings and 35% lower year-on-year.
Top five companies in banking and payments accounted for 39% of hiring activity
The highest number of jobs were posted by US Bank with 18,281, followed by Citigroup with 13,957, while the highest increase was at Wells Fargo & Co at 2%.