The global banking and payments industry experienced a 12% drop in new job postings related to social media in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 56% decrease versus Q4 2022. GlobalData’s Banking & Payments: Hiring Trends & Signals Q4 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and Key themes within the industry, facilitating anticipation of future workforce needs. Buy the report here.
Notably, Office and Administrative Support Occupations jobs accounted for a 21% share of the global banking and payments industry’s social media-related total new job postings in Q4 2023, up 30% over the prior quarter.
Office and Administrative Support Occupations drive social media-related hiring activity
Office and Administrative Support Occupations, with a share of 21%, emerged as the top social media-related job roles within the banking and payments industry in Q4 2023, with new job postings rising by 30% quarter-on-quarter. Sales and Related Occupations came in second with a share of 18% in Q4 2023, with new job postings dropping by 1% over the previous quarter.
The other prominent social media roles include Management Occupations with a 16% share in Q4 2023, Business and Financial Operations Occupations with a 15% share of new job postings.
Top five companies in banking and payments industry accounted for 40% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were Bank of Montreal, First Horizon, KeyCorp, Alberta Treasury Branches, and Simmons First National. Together they accounted for a combined share of 40% of all social media-related new jobs in the banking and payments industry.
Bank of Montreal posted 1,223 social media-related new jobs in Q4 2023, First Horizon 530 jobs, KeyCorp 225 jobs, Alberta Treasury Branches 197 jobs, and Simmons First National 134 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 50.31% share of total new job postings, Q4 2023
The largest share of social media-related new job postings in the banking and payments industry in Q4 2023 was in the US with 50.31% followed by Canada (19.65%) and the UK (4.87%). The share represented by the US was 0 percentage points lower than the 50.81% share it accounted for in Q3 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q4 2023, buy the report here.
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