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September 1, 2021updated 08 Oct 2021 11:09am

IT hiring in global banking and payments industry rises 9.1% in August 2021

By Verdict Staff

The global banking and payments industry noticed a 9.1% rise in IT hiring activity in August 2021 over the previous month, led by Citigroup’s 7.3% share, according to GlobalData’s Jobs Analytics database.

The banking and payments industry’s overall hiring activity increased 9.89% when compared with July 2021.

Noticeably, IT jobs accounted for a 17.2% share of the global banking and payments industry’s hiring activity in August 2021, up 0.5% over the last three-month average share.

According to GlobalData, IT job opportunities available at the end of August 2021 were 12.11% lower when compared with the previous month.

The decrease was a result of 17.72% higher job postings as compared to job closures during the month.

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 65.13% emerged as the top IT occupation in the banking and payments hiring activity in August 2021, a 5.18% growth over the previous month. Miscellaneous Computer Occupations came in second with a share of 13.61% in August 2021, up 16.16% over the previous month.

The other prominent IT roles include Database and Network Administrators and Architects with a 9.13% share in August 2021, a growth of 15.34% over the previous month, and Computer and Information Analysts with a 6.99% share in August 2021 and a rise of 33.42% over July 2021.

Top five banking and payments companies by recruitment activity in August 2021

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average growth of 42.66% share in the overall IT recruitment activity of global banking and payments industry during August 2021 over July 2021.

Citigroup posted 2,183 IT jobs in August 2021 and registered a rise of 57.5% over the previous month, followed by JPMorgan Chase with 2,086 jobs and a 6.37% growth. Wells Fargo with 1,675 IT jobs and Banco Santander with 1,123 jobs, recorded a 34.97% growth and a 137.92% rise, respectively, while Fiserv recorded a 69.37% rise with 962 job postings during August 2021.

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 August 2021 with a 47.06% share, which marked a 17.33% rise over the previous month.

Asia-Pacific stood next with 32.37%, registering an 8.13% month-on-month growth. Europe was the third leading region with a 17.36% share and a 4.84% drop over July 2021.

In the fourth place was South & Central America with a share of 1.8% and a month-on-month rise of 33.5%. Middle East & Africa stood at the bottom of the table with a share of 1.34%, registering a 9.66% decrease over the previous month.

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