The global banking and payments industry noticed a 13.6% drop in IT hiring activity in November 2022 over the previous month, led by JPMorgan Chase’s 9.7% share, according to GlobalData’s Jobs Analytics database.

The banking and payments industry’s overall hiring activity declined 12.65% when compared with October 2022.

Noticeably, IT jobs accounted for a 13.48% share of the global banking and payments industry’s hiring activity in November 2022, down 0.67% over the last three-month average share.

According to GlobalData, IT job opportunities available at the end of November 2022 were 18.64% lower when compared with the previous month.

The decrease was a result of 36.48% higher job postings as compared to job closures during the month.

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Software and Web Developers, Programmers, and Testers drive banking and payments IT hiring activity

Software and Web Developers, Programmers, and Testers with a share of 51.37% emerged as the top IT occupation in the banking and payments hiring activity in November 2022, a 29.51% decline over the previous month. Computer and Information Analysts came in second with a share of 16.89% in November 2022, down 8.89% over the previous month.

The other prominent IT roles include Database and Network Administrators and Architects with a 13.51% share in November 2022, a decline of 34.64% over the previous month, and Miscellaneous Computer Occupations with a 12.46% share in November 2022 and a drop of 31.42% over October 2022.

Top five banking and payments companies by recruitment activity in November 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average growth of 19.78% share in the overall IT recruitment activity of global banking and payments industry during November 2022 over October 2022.

JPMorgan Chase posted 1,683 IT jobs in November 2022 and registered a rise of 197.35% over the previous month, followed by Citigroup with 1,253 jobs and a 3.9% growth. US Bank with 1,009 IT jobs and Barclays with 792 jobs, recorded a 50.54% decline and a 6.17% rise, respectively, while EQT recorded a 24100% rise with 726 job postings during November 2022.

Regional composition of IT hiring in banking and payments industry

North America emerged as the leading region in the global banking and payments IT hiring activity in November 2022 with a 50.7% share, which marked a 29.21% drop over the previous month.

Asia-Pacific stood next with 26.72%, registering a 15.56% month-on-month decline. Europe was the third leading region with an 18.4% share and a 38.4% drop over October 2022.

In the fourth place was Middle East & Africa with a share of 2.18% and a month-on-month drop of 30.97%. South & Central America stood at the bottom of the table with a share of 1.99%, registering a 31.49% decrease over the previous month.