India’s banking and payments industry registered a 15.8% drop in IT hiring activity in October 2022 when compared with the previous month, according to GlobalData’s Job Analytics database.

The industry’s overall hiring is decreased by 0.68% in October 2022 when compared with September 2022.

Out of the banking and payments industry’s total hiring activity, IT jobs claimed a 15.64% share in October 2022, recording a decrease of 5.07% over the last three-month average share.

Top five job classifications in India’s banking and payments industry’s IT recruitment activity in October 2022

Out of the total job titles, the top five roles commanded a 99.66% share in the overall IT recruitment activity of India’s banking and payments industry in October 2022.

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1) Software and Web Developers, Programmers, and Testers recorded a share of 62.97% in October 2022, registering a 42.39% decline over the previous month.

2) Computer and Information Analysts claimed an 11.53% share, a decrease of 30.55% over the previous month.

3) Miscellaneous Computer Occupations held a share of 11.36%, registering a 14.29% decline from September 2022.

4) Database and Network Administrators and Architects captured a share of 9.23%, down 41.04% over the previous month.

Top five banking and payments companies in India’s IT recruitment activity in October 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, have accounted for a combined average decline of 30.34% share in the overall IT recruitment activity of India’s banking and payments industry during October 2022 over September 2022.

Barclays posted 456 IT jobs in October 2022 and registered a drop of 30.49% over the previous month, followed by Citigroup with 432 jobs and a 23.67% drop. JPMorgan Chase with 149 IT jobs and Wells Fargo with 133 jobs, recorded a 46.21% decline and a 63.36% decrease, respectively, while Standard Chartered recorded a flat growth with 127 job postings during October 2022.

Junior Level job postings dominate in October 2022

Junior Level jobs held a share of 54.41%, down by 34.83% from September 2022. Mid Level positions with a 37.77% share, registered a decline of 42.21% compared with the previous month.

In the third place was Entry Level job ads with 5.17% share, down 45.55% over September 2022, while Senior postings accounted for 2.64%, recording a month-on-month increase of 11.43%.