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June 30, 2021

North America’s banking and payments industry IT hiring activity rises 8.1% in May 2021

By Verdict Staff

North America witnessed an 8.1% rise in IT hiring activity in the banking and payments industry in May 2021 compared with the previous month, according to GlobalData’s Job Analytics index.

May 2021 has seen an increase of 7.63% in the overall hiring activity when compared with April 2021.

IT jobs accounted for a 12.29% share in the industry’s total hiring activity in May 2021, registering an increase of 0.08% over the last three-month average share.

Software and Web Developers, Programmers, and Testers Occupations leads by classification in May 2021

Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in North America with a share of 62.31% in May 2021, a 7.58% growth over the previous month. Miscellaneous Computer Occupations came in next, claiming a share of 14.94% in May 2021, marking an 8.49% month-on-month an increase. In the third place was Database and Network Administrators and Architects with a share of 9.68% in May 2021, a 21.03% growth from April 2021.

Computer and Information Analysts registered a share of 6.9% in May 2021, a 3.22% rise over the previous month.

Top five banking and payments companies in North America’s IT recruitment activity in May 2021

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average growth of 40.7% in the overall IT recruitment activity of North America’s banking and payments industry during May 2021 over previous month.

JPMorgan Chase posted 595 IT jobs in May 2021 and registered a decline of 38.72% over the previous month, followed by The Charles Schwab with 584 jobs and a 104.91% growth. Affiliated Managers Group with 483 IT jobs and Royal Bank of Canada with 325 jobs, recorded a 1409.38% growth and a 212.5% increase, respectively, while Wells Fargo recorded a 28.69% an increase with 305 job postings during May 2021.

Country-wise composition of IT hiring in North America’s banking and payments industry

The US commanded a leading presence in the region’s banking and payments industry IT hiring activity with an 82.35% share in May 2021, a 4.64% rise over April 2021. Canada featured next with a 14.86% share, up 25.02% over the previous month. Mexico recorded a 2.77% share, a growth of 23.29% compared with April 2021.

Junior Level job postings dominate in May 2021

Junior Level jobs held a share of 66.99%, down by 4.24% from April 2021. Mid Level positions with a 25.63% share, a growth of 44.87% compared with the previous month.

In the third place was Entry Level job ads with 5.98% share, up 74.55% over April 2021, while Senior postings accounted for 1.39%, recording a month-on-month decline of 20.47%.

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