How to Get a Job in FinTech in 2024

The FinTech industry has consistently evolved, but more recently, we’ve seen a significant rise in the number of new FinTech models, programs and applications that are turning our once non-digital world on its head. The industry continues to grow at an exponential rate, revolutionizing the way financial services are delivered. From digital payments and blockchain to AI assistants and lending platforms, the developments and opportunities in the sector are very promising. The demand for skilled FinTech professionals has never been higher, but for job seekers, this also means fierce competition. So, if you’re wondering how to get a job in FinTech, you’re in the right place. This guide will provide you with everything you need to know and actionable tips and insights to help you stand out from the crowd.

 

What is FinTech?

FinTech, otherwise known as financial technology, is the integration and use of technology in finance. FinTech can improve efficiency, accessibility and user experience for many financial companies. They are all over the world, so chances are you’ve used them without realising it! Think mobile banking, peer-to-peer payment platforms and blockchain-powered apps. FinTech is fast growing, so it is no surprise that it’s become a competitive industry.

“The fintech industry has seen explosive growth in the last decade, with a projected compound annual growth rate of 16.8% and a valuation of $492.81 billion by 2028, according to a recent report on the global fintech market.”

Why Work in FinTech?

Before delving into how to land a job in FinTech, let’s look at the advantages of working in the sector.

• ●      Growth and innovation- the FinTech industry is constantly evolving, making it an exciting field to be a part of. Especially if you love working with cutting-edge technology.
• ●      Career development- there is a wide variety of specialisations, including popular roles in software development, cybersecurity and product management.
• ●      High demand- with new technologies coming to financial institutions every day, the demand for skilled professionals continues to grow.
• ●      Competitive salaries- the FinTech industry offers attractive compensation packages. The average salary of someone working in FinTech in the UK is £60,000 per year, which can increase to around £80,000 per year. 
  
  

Tips for Getting a Job in Fintech in 2024

 

1. Develop In-Demand Skills for FinTech

To get a job in FinTech, you’ll need to have skills that align with the industry's demands. This means enrolling in courses to continuously learn and develop your skills and FinTech education. You should consider which area you want to go into and upskill accordingly. The most popular FinTech roles often require proficiency in areas like:

 

●      Programming languages- learning programs like Python and Java is valuable as they are commonly used in FinTech apps, whether developing blockchain or a payment gateway.

●      Blockchain knowledge- this is highly valuable for cryptocurrencies and blockchain which have gained mainstream popularity.

●      Data analytics- understanding data and how to use analytics to drive decision making is a crucial skill for many FinTech roles.

●      Cybersecurity- with so much sensitive financial data ar risk, there’s a strong demand for cybersecurity professionals who can safeguard data.

 

2. Earn FinTech Certifications

While having a degree and experience is great, certifications can give you the competitive edge you might need in a sought after role. You should definitely think about this if you are transitioning from another industry.

What kind of certifications can you get? There are all sorts.

The Introduction to FinTech course offered by CFI is perfect for beginners who want to learn the fundamentals of finance and technology.

The FinTech Industry Professional certification (FTIP) will help you master the emerging technologies driving the future of finance. You’ll earn your qualification and unlock career development and opportunities.

These certifications can demonstrate to employers that you’re serious about FinTech and have the technical acumen to succeed in the industry.

Check out more courses here.

 

3. Tailor your CV for FinTech Jobs

In your job search, your CV is often your first impression, so make sure it speaks the language of the industry. Highlight relevant experience on your FinTech resume, such as:

●      Showcase the tools and programming languages you’re proficient in. If you’ve worked on any relevant projects, like developing a payment app, make sure they’re prominently displayed.

●      If you’ve worked in financial services or have expertise in areas like compliance or risk management, emphasise that experience.

●      Be sure to include metrics. For instance, “Reduced fraud risk by 30% using machine learning algorithms” is more compelling than a generic description of your duties.

 

4. Networking is Key

Networking in FinTech is essential, even more so than other sectors, because of the industry's fast-paced nature. You should attend events, webinars and conferences to build connections.

Utilise platforms like LinkedIn to join groups and engage in discussions. Make sure your profile is updated and optimsied to reflect your interest in FinTech.

Go to industry meetups wherever possible. Platforms like Meetup.com often host local FinTech events where you can meet industry leaders and like-minded professionals.

You can also attend FinTech-focused conferences or events that provide excellent opportunities to connect with top companies in the field.

 

5. Research Targeting Specific FinTech Companies

Not all FinTech companies are the same, so it’s important to research potential employers to find the best fit for your skills and interests. Look for companies that align with your values and offer the types of roles you're seeking. It’s important to have knowledge on the FinTech job market. Some notable FinTech companies to explore in 2024 include Stripe, Revolut and Plaid.

●      Stripe: Known for their easy-to-use payment processing services.

●      Revolut: A digital banking app offering everything from currency exchange to crypto trading.

●      Plaid: A company focused on enabling other businesses to build financial applications.

Make sure you tailor your cover letter for each job application, demonstrating your knowledge of the company and how your skill set matches their needs.

 

6. Prepare Well for Interviews

The FinTech interview process often involves both technical and behavioural      questions. To prepare, try these FinTech interview tips:

●      Brush up on your technical skills with coding challenges or data analysis exercises. Sites like LeetCode and HackerRank can help you practice.

●      Employers will also be interested in your problem-solving skills and how you handle challenges. Prepare for questions like, "How would you approach solving a major security breach?"

●      Be prepared to discuss recent FinTech trends.

7. Continuous Learning to Stay Updated

FinTech is an ever-evolving industry, so continuous learning is key to staying relevant. Follow industry publications, attend online courses, and stay updated on emerging trends. If you are constantly developing yourself, more FinTech opportunities will arise.  Staying on top of industry trends will not only make you a more attractive candidate but also help you adapt as the FinTech landscape continues to evolve. This is key to having career growth in FinTech.

Conclusion

Landing a job in FinTech in 2024 requires more than technical skills. It’s about understanding the industry, networking effectively, and showcasing your ability to stay ahead of technological advancements. By developing in-demand skills, earning relevant certifications, and staying engaged in the FinTech community, you can set yourself apart from the competition and secure a rewarding role in this dynamic field. Here at SGI, we understand the importance of the right talent for FinTech and have an outstanding track record with clients such as HSBC doing just that. We give our clients the best customer experience possible.

If you’re looking for a role in FinTech, don’t hesitate to contact us or browse our financial and technology jobs pages to see current career opportunities. We want to help you with your FinTech career.