The UK’s banking and payments industry registered a 13.0% 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 11.1% in October 2022 when compared with September 2022.
Out of the banking and payments industry’s total hiring activity, IT jobs claimed a 15.56% share in October 2022, recording a decrease of 0.2% over the last three-month average share.
Top five job classifications in the UK’s banking and payments industry’s IT recruitment activity in October 2022
Out of the total job titles, the top five roles commanded a 99.63% share in the overall IT recruitment activity of the UK’s banking and payments industry in October 2022.
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1) Software and Web Developers, Programmers, and Testers recorded a share of 51.77% in October 2022, registering a 34.39% decline over the previous month.
2) Miscellaneous Computer Occupations claimed a 16.91% share, a decrease of 26.61% over the previous month.
3) Database and Network Administrators and Architects held a share of 14.13%, registering a 38.21% decline from September 2022.
4) Computer and Information Analysts captured a share of 11.52%, down 26.63% over the previous month.
Top five banking and payments companies in the UK’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 39.2% share in the overall IT recruitment activity of the UK’s banking and payments industry during October 2022 over September 2022.
Barclays posted 256 IT jobs in October 2022 and registered a drop of 36.16% over the previous month, followed by Citigroup with 75 jobs and a 6.25% drop. Lloyds Banking Group with 52 IT jobs and JPMorgan Chase with 47 jobs, recorded a 45.83% decline and a 76.02% decrease, respectively, while Legal & General Group recorded a flat growth with 40 job postings during October 2022.
Junior Level job postings dominate in October 2022
Junior Level jobs held a share of 73.05%, down by 33.05% from September 2022. Mid Level positions with a 16.82% share, registered a decline of 38.23% compared with the previous month.
In the third place was Entry Level job ads with 5.95% share, down 39.05% over September 2022, while Senior postings accounted for 4.18%, recording a month-on-month increase of 50%.