The Asia-Pacific banking and payments industry experienced a 24% drop in new job postings in Q1 2023 compared with the previous quarter, with the highest share accounted for by HDFC Bank with 11,195 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 24% share of the Asia-Pacific banking and payments industry’s total new job postings in Q1 2023, drop 16% over the prior quarter.
Management Occupations drive banking and payments hiring activity
Management Occupations, with a share of 24% new job postings, was the occupation with the greatest hiring activity in the Asia-Pacific banking and payments industry in Q1 2023 , ahead of Computer and Mathematical Occupations with a 15% share of new job postings.
The other prominent roles included Office and Administrative Support Occupations with a 9% share in Q1 2023, Business and Financial Operations Occupations with a 9% share and Sales and Related Occupations with a 2% share of new job postings.
Top five companies accounted for 43% of hiring activity
HDFC Bank posted 11,195 jobs in Q1 2023 and registered a growth of 1% over the previous quarter, followed by Kotak Mahindra Bank with 8,548 jobs and a 7% drop. Citigroup, with 5,681 jobs, and Standard Chartered, with 4,989 jobs, recorded an 18% drop and a 34% drop, respectively, while Deutsche Bank recorded a 31% decline with a 2,569 new job postings during Q1 2023.
Regional analysis of hiring in the Asia-Pacific banking and payments industry, Q1 2023
India held the leading share of the Asia-Pacific banking and payments hiring activity with a 61.83% share, a 16% decrease over Q4 2022. Australia was next with 6.01%, four-percentage-point down over the previous quarter.