Jobs
Hiring activity related to Internet of Things decreased by a CAGR of 17% in the retail banking industry since 2021
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The global retail banking industry witnessed a 17% decline in compound annual growth rate (CAGR) in new job postings related to Internet of Things since 2021, according to GlobalData's Job Analytics database. New job postings increased by 23% year-on-year in 2022 and decreased by 44% year-on-year in 2023.
Notably, computer and mathematical occupations jobs accounted for 41% share of the global retail banking industry’s Internet of Things-related new job postings since 2021.
Computer and mathematical occupations drive Internet of Things-related hiring activity
Computer and mathematical occupations, with a share of 41%, emerged as the top Internet of Things-related job roles within the retail banking industry since 2021, with new job postings rising by 49% year-on-year in 2022 and falling by 62% year-on-year in 2023.
Management occupations came in second with a share of 21%, with new job postings rising by 45% year-on-year in 2022 and falling by 44% year-on-year in 2023.
The other prominent Internet of Things roles include architecture and engineering occupations with a 12% share, office and administrative support occupations with a 9% share and business and financial operations occupations with a 6% share.
The top five companies in the retail banking industry accounted for 42% of hiring activity
The top five companies, in terms of the number of new job postings tracked by GlobalData, since 2021 were Altra Federal Credit Union, JPMorgan Chase, KBC Ancora, Citigroup, and Standard Chartered. Together they accounted for a combined share of 42% of all Internet of Things-related new jobs in the retail banking industry.
Altra Federal Credit Union posted 291 Internet of Things-related jobs since 2021, followed by JPMorgan Chase with 175 jobs, and KBC Ancora with 129 jobs, according to GlobalData’s Job Analytics database.
New job postings by Altra Federal Credit Union increased by 134% year-on-year in 2022 and decreased by 32% year-on-year in 2023, while those by JPMorgan Chase increased by 138% in 2022 and decreased by 67% in 2023.
Hiring activity was driven by the US with a 39% share of total new job postings since 2021
The largest share of Internet of Things-related new job postings in the retail banking industry since 2021 was in the US with 39%, followed by India (9%) and Belgium (8%). The share represented by the US increased by 12 percentage points from 35% in 2022 to 47% in 2023.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Job Analytics database uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries.
