India’s banking and payments industry registered an 8.4% drop in IT hiring activity in November 2022 when compared with the previous month, according to GlobalData’s Job Analytics database.

The industry’s overall hiring is decreased by 12.41% in November 2022 when compared with October 2022.

Out of the banking and payments industry’s total hiring activity, IT jobs claimed a 16.25% share in November 2022, recording a decrease of 1.29% over the last three-month average share.

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

Out of the total job titles, the top five roles commanded a 99.61% share in the overall IT recruitment activity of India’s banking and payments industry in November 2022.

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1) Software and Web Developers, Programmers, and Testers recorded a share of 62.2% in November 2022, registering a 5.97% decline over the previous month.

2) Miscellaneous Computer Occupations claimed an 11.37% share, a decrease of 5.35% over the previous month.

3) Computer and Information Analysts held a share of 10.89%, registering a 9.84% decline from October 2022.

4) Database and Network Administrators and Architects captured a share of 9.76%, down 0.33% over the previous month.

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

The top five companies, in terms of number of jobs as tracked by GlobalData, have accounted for a combined average growth of 32.12% share in the overall IT recruitment activity of India’s banking and payments industry during November 2022 over October 2022.

Citigroup posted 560 IT jobs in November 2022 and registered a rise of 29.63% over the previous month, followed by Barclays with 462 jobs and a 12.96% growth. Wells Fargo with 314 IT jobs and JPMorgan Chase with 231 jobs, recorded a 23.14% growth and a 55.03% growth, respectively, while HSBC recorded an increase of 140.28% with 173 job postings during November 2022.

Junior Level job postings dominate in November 2022

Junior Level jobs held a share of 54.34%, down by 4.89% from October 2022. Mid Level positions with a 36.9% share, registered a decline of 8.37% compared with the previous month.

In the third place was Entry Level job ads with 4.59% share, down 11.73% over October 2022, while Senior postings accounted for 4.17%, recording a month-on-month increase of 60.49%.