Europe witnessed a 13.6% drop in IT hiring activity in the banking and payments industry in November 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.

November 2022 has seen a decrease of 11.43% in the overall hiring activity when compared with October 2022.

IT jobs accounted for a 14.19% share in the industry’s total hiring activity in November 2022, registering a decrease of 0.75% over the last three-month average share.

Software and Web Developers, Programmers, and Testers Occupations leads by classification in November 2022

Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in Europe with a share of 50.97% in November 2022, a 40.03% drop over the previous month. Miscellaneous Computer Occupations came in next, claiming a share of 17.61% in November 2022, marking a 37.21% month-on-month decline. In the third place was Database and Network Administrators and Architects with a share of 14.38% in November 2022, a 37.21% drop from October 2022.

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Computer and Information Analysts registered a share of 11.65% in November 2022, a 34.28% decline over the previous month.

Top five banking and payments companies in Europe’s IT recruitment activity in November 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 43.75% in the overall IT recruitment activity of Europe’s banking and payments industry during November 2022 over previous month.

Barclays posted 310 IT jobs in November 2022 and registered a decline of 1.27% over the previous month, followed by Erste Group Bank with 278 jobs and a 68.52% drop. JPMorgan Chase with 158 IT jobs and Citigroup with 118 jobs, recorded a 177.19% rise and a 15.11% drop, respectively, while Allianz recorded a 68.29% decline with 104 job postings during November 2022.

Country-wise composition of IT hiring in Europe’s banking and payments industry

The UK commanded a leading presence in the region’s banking and payments industry IT hiring activity with a 34.4% share in November 2022, an 11.74% decrease over October 2022. Austria featured next with a 9.24% share, down 67.4% over the previous month. Poland recorded a 7.71% share, a drop of 19.34% compared with October 2022.

Junior Level job postings dominate in November 2022

Junior Level jobs held a share of 70.55%, down by 40.09% from October 2022. Mid Level positions with a 16.17% share, registered a decline of 26.91% compared with the previous month.

In the third place was Entry Level job ads with 11.62% share, down 42.48% over October 2022, while Senior postings accounted for 1.66%, recording a month-on-month decline of 26.39%.