Singapore’s banking and payments industry registered an 11.4% 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 7.21% in October 2022 when compared with September 2022.

Out of the banking and payments industry’s total hiring activity, IT jobs claimed a 15.7% share in October 2022, recording a decrease of 1.03% over the last three-month average share.

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

Out of the total job titles, the top five roles commanded a 99.37% share in the overall IT recruitment activity of Singapore’s banking and payments industry in October 2022.

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1) Software and Web Developers, Programmers, and Testers recorded a share of 47.62% in October 2022, registering a 29.58% decline over the previous month.

2) Miscellaneous Computer Occupations claimed a 25.08% share, a decrease of 5.95% over the previous month.

3) Computer and Information Analysts held a share of 11.43%, registering a 35.71% decline from September 2022.

4) Database and Network Administrators and Architects captured a share of 10.48%, down 45.9% over the previous month.

Top five banking and payments companies in Singapore’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 31.8% share in the overall IT recruitment activity of Singapore’s banking and payments industry during October 2022 over September 2022.

Citigroup posted 44 IT jobs in October 2022 and registered a rise of 25.71% over the previous month, followed by DBS Group Holdings with 35 jobs and a 25.53% drop. Temasek Holdings (Private) with 27 IT jobs and UBS Group with 22 jobs, recorded a 70.97% decline and a 57.14% growth, respectively, while United Overseas Bank recorded a decline of 28.57% with 20 job postings during October 2022.

Junior Level job postings dominate in October 2022

Junior Level jobs held a share of 45.4%, down by 34.7% from September 2022. Mid Level positions with a 31.43% share, registered a decline of 37.74% compared with the previous month.

In the third place was Senior job ads with 12.7% share, up 53.85% over September 2022, while Entry Level postings accounted for 10.48%, recording a month-on-month decline of 13.16%.