How To Land Your Dream Job in FinTech

By the New York Institute of Finance

What Is FinTech?

FinTech is more than a $17 billion industry and continues to enjoy rapid growth with a projection of $46 billion dollars to be invested in the year 2020. Competition is fierce among start-ups, banks, lenders, and insurance companies. Consumers are eager to keep pace with the changes in technology and they expect their financial service providers to do the same. This is good news when it comes to employment opportunities. If you are looking for a career in the financial industry that incorporates cutting-edge technology, FinTech businesses offer the chance to work on innovative ground-up IT projects with competitive salaries.

How Is FinTech Changing the Job Market?

Before we look at how FinTech is changing the dynamics of employment within the financial industry, let’s take a look at how the financial technology industry has evolved in recent years. Broadly speaking, the financial industry has always incorporated technology to manage data and facilitate back-office tasks. As technology has developed, it has become more of a central part of banking with e-commerce and online banking capabilities. After the financial crisis in the early 2000’s, new regulations forced banks to integrate technology, services, data, and analytics.

As advances in technology continue, the world of finance is always adapting. Banks and financial companies have become technology developers, constantly working to bring consumers new products and services. Technology is changing all aspects of how people bank and invest their money; from making payments to cyber currency, the financial industry is in a perpetual state of disruption these days.
Machine learning, artificial intelligence, data-driven marketing, and predictive behavior analysis are quickly changing the landscape of how people make financial decisions. The best way to keep up with these rapid changes is to continually educate yourself. The New York Institute of Finance offers a variety of courses that will give you a competitive edge in the FinTech space.

Career Opportunities in FinTech?

Large financial institutes, originally resistant to embrace technology, are now scrambling to keep pace with current trends. Companies need to develop their programs and innovate in order to grow their market share. This means not only investing in technology but also bringing their workforces up to speed which has created an influx of job openings across a variety of disciplines within the financial services industry.

Because FinTech has its basis in technology, some of the top careers in the industry are centered around developing new technologies. This means that those with computer science-based training may be a perfect fit. Many of the positions that are in high demand include software architects, SAP consultants, and IT security specialists.

Software architects are responsible for making high-level decisions to determine the technical specifications of a software system. They determine the structural elements and interfaces, as well as the behavior of the system. These people are responsible for meeting with teams to understand the requirements and needs of the organization. To be a successful software architect in the FinTech world, you need to not only have a solid education in computer science but an understanding of the finance industry as well.

SAP (Systems, Applications, and Products) consultants are technical experts that provide advice on software that is used for enterprise resource planning (ERP). First and foremost, an SAP consultant must have extensive knowledge of SAP and its various modules. To be an SAP consultant in the finance industry, you also need to have a sufficient understanding of basic banking practices. Because SAP consultants work to bridge gaps between various groups, it’s important to have good communication and presentation skills.

IT security specialists are in high demand because of the regulations, controls, and compliance standards that govern financial services companies. It’s necessary to safeguard sensitive financial and personal information, and as technology advances this information is vulnerable. IT security specialists benefit from a formal education and technical experience. Information security jobs are projected to steadily increase over the next decade.

Financial data science is another emerging area that is gaining traction in the FinTech environment. These specialists help financial institutions access new data sets, like social data, in order to find innovative ways of understanding customers and markets. Financial data scientists capture and analyze multiple sources of data to build predictive models based on simulations of market events. They embrace new technologies such as Hadoop, NoSQL, and Storm to bring meaning to non-traditional data sets like geolocation and sentiment data by integrating them with more traditional numbers such as trade data.

To be a successful data scientist in the FinTech world, you need to be an accomplished programmer with a deep understanding of machine learning and statistic-based financial practices. An education program specific to financial data science should provide a fundamental understanding of advanced analytics combined with knowledge of various financial markets. Those with the proper training are highly sought after by well-known companies and can easily land coveted high paying positions in the financial sector.

Growth in FinTech is Creating Jobs

As banks, lenders, and investment companies realize the need to incorporate higher levels of technology into their business, job opportunities in FinTech will continue to explode. Mariano Mamertino, EMEA Economist for recruitment site, told Business Insider, “Our data reveals that FinTech firms are now engaged in a full-scale battle for talent. Despite offering attractive salaries, many FinTech employers are struggling to recruit the people they need to grow.” [2]

In an increasingly crowded market, attracting talent is a key priority for many of the enterprises in the FinTech arena. Having talented employees that have the right mix of technical skills and financial knowledge is key to their success. If you are considering a career in this sector, either as a technology specialist or by building your own FinTech start-up, it pays to have the right education and credentials.

Benefits and Perks of a Career in FinTech

The digital revolution of the finance industry is good news for those looking for a career in FinTech. This is leading to significant changes in the employment landscape, with a variety of new skills needed in financial services. With the number of open positions, particularly for project managers, companies are willing to pay a premium for someone with the right qualifications.

A quick search on and, two of the leading job search websites, reveals thousands of available jobs across the country. The salary range is from $65,000 to over $135,000. Companies are looking for a range of experience from entry level to senior level. Most of the jobs are full-time positions, but there are opportunities for contractors, commission-based positions, temporary employment, internships, and part-time work. Many of the hiring companies are well-known banks and financial firms such as Citi, Capital One, Visa, and JP Morgan Chase. [4]

Here’s an example of some of the entry-level jobs that are currently being recruited as of the time of this writing. [5]

A great salary is just one of the perks of working in the FinTech industry. A job as a full-time employee usually includes paid vacation, insurance, and education assistance. SoFi is a FinTech company that is taking a new approach to lending and wealth management. On their recruitment page, they offer a host of benefits and perks. [6]

If you have more of an entrepreneurial spirit, you might want to consider starting your own FinTech company. While being your own boss is certainly a perk, it takes time and significant resources to build a successful FinTech start-up.

“I’ve seen a lot of former bankers entering the FinTech sector in the past couple of years,” says Damien Regent, a former UBS managing director, turned investor and non-executive director in technology companies. “But if you’re a founder there will be very little cash in the early days. – It’s difficult to get a significant salary until the business grows, attracts funding and brings in some contracts. Even so, most people are more interested in options and stock than high cash salaries. But to make real money as a founder, you’ll need the business to be sold and to monetize your shares. [7]

Education Is The Key to a Career in Fintech

If you’re considering a FinTech career, it helps to have an aptitude for math and technology.  Candidates for the programs offered at New York Institute of Finance are encouraged to have a solid understanding of high-level mathematics including basic calculus and linear algebra at the undergraduate level.  A foundation in probability theory and statistics is also beneficial. Depending on the particular field you are considering in the industry, you may also need programming experience.

There are a number of less technical roles, such as business analyst and project management, that do not require a strong aptitude for math and technology.  Many people with a financial background have been able to transition to careers in FinTech.

There are a number of less technical roles, such as business analyst and project management, that do not require a strong aptitude for math and technology. Many people with a financial background have been able to transition to careers in FinTech.

“We’re looking for people who can think logically and laterally – you need to be able to solve problems,” adds Scott Marcar, head of IT infrastructure at Deutsche Bank. “We’re looking for innovators who can think outside the box. And we’re looking for communicators – the ability to communicate both internally and externally is critical. If you’re strong in each of these three things, you will have a very strong application.” [8]

FinTech Offers Job Security

The FinTech industry has charged itself to bring innovation and disruption to financial services. With transformative products and tools that go beyond what’s expected, consumers are taking their business to the most tech-savvy companies. These companies are looking for innovators and thought leaders to help them stay ahead of the curve and capture market share. If you’re looking for a job that combines security and financial payoffs, FinTech is well positioned to offer both.

Prepare yourself for a career in FinTech with the New York Institute of Finance. The New York Institute of Finance offers the Financial Data Scientist™ (FDS™) which is designed to equip you with essential desk-ready skills that every data scientist is expected to master. You will become an accomplished R and Python programmer and develop a deep understanding of subjects such as machine learning, algorithmic trading, and peer-to-peer lending. Click here to learn more about the Financial Data Scientist™ designation.

About The New York Institute of Finance

The New York Institute of Finance is an American Education Company that was founded by the New York Stock Exchange (NYSE) in 1922.

Since then, NYIF has striven to provide top-level continuing education to professionals in the finance industry. and corporations worldwide. The New York Institute of Finance offers a multitude of courses that range from Introductory to Advanced, as well as offering extensive designations that help further your career.