Jobs
Hiring activity related to ESG increased by a CAGR of 100% in the retail banking industry since 2020
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The global retail banking industry witnessed a 100% rise in compound annual growth rate (CAGR) in new job postings related to ESG since 2020, according to GlobalData's Job Analytics database. New job postings increased by 182% year-on-year in 2021, and by 42% year-on-year in 2022.
Notably, management occupations jobs accounted for 29% share of the global retail banking industry’s ESG-related new job postings since 2020.
Management occupations drive ESG-related hiring activity
Management occupations, with a share of 29%, emerged as the top ESG-related job roles within the retail banking industry since 2020, with new job postings rising by 216% year-on-year in 2021 and by 43% year-on-year in 2022.
Business and financial operations occupations came in second with a share of 21%, with new job postings rising by 164% year-on-year in 2021 and by 39% year-on-year in 2022.
The other prominent ESG roles include office and administrative support occupations with a 20% share, and computer and mathematical occupations with a 15% share and sales and related occupations with a 6% share.
The top five companies in the retail banking industry accounted for 41% of hiring activity
The top five companies, in terms of the number of new job postings tracked by GlobalData, since 2020 were Citigroup, Standard Chartered, JPMorgan Chase, BNP Paribas, and Bank of Montreal. Together they accounted for a combined share of 41% of all ESG-related new jobs in the retail banking industry.
Citigroup posted 46,400 ESG-related jobs since 2020, followed by Standard Chartered with 38,639 jobs, and JPMorgan Chase with 32,316 jobs, according to GlobalData’s Job Analytics database.
New job postings by Citigroup increased by 45% year-on-year in 2022 and by 40% year-on-year in 2022, while those by Standard Chartered increased by 841% in 2021 and by 31% in 2022.
Hiring activity was driven by the US with a 44% share of total new job postings since 2020
The largest share of ESG-related new job postings in the retail banking industry since 2020 was in the US with 44%, followed by India (15%) and Canada (11%). The share represented by the US decreased by three percentage points from 46% in 2021 to 43% in 2022.
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.
