15 Best & High Paying FinTech Jobs – Careers Path and Opportunities – Techbytes
In the past decade, we have seen many innovations concerning technology and its application to financial services. The massive growth of Bitcoin and other financial service providers has been a contributing factor to the growth.
It is also the reason for growing investment into FinTech and firms that provide these services. FinTech industry players usually focus on the innovations that are believed to transform finance, freeing it up and making it more widely available to commercial and personal users.
By leveraging the power of both technology and finance, FinTech players like online lenders, mobile payment platforms, and asset management firms are changing financial services. Traditional financial models are quickly getting phased out as FinTech keeps gaining momentum.
With the growth in FinTech, there is an increased demand for professionals who have skills that can be used in various firms. The demand exceeds the supply of expertise and skills, making FinTech careers very lucrative.
There are plenty of high-paying FinTech jobs in high demand, and talented FinTech professionals are getting hired thanks to their capabilities and skill-set instantly. Candidates with knowledge of the following areas will be in high demand.
- Software and mobile application development
- Machine learning, Artificial Intelligence (AI), and deep learning
Following are 15 of some of the high jobs in FinTech.
App Developers
App development is a fast-growing field in the software industry as financial firms need to provide their users with means of conveniently accessing their services. An app developer is in exceptionally high demand these days and is required to create apps for use by FinTech startups.
Proficiency in programming languages like C#, C++, Java, and Python is required for this job. The developer also needs to have good analytical skills as well as a good understanding of databases.
Machine learning skills, deep learning, and artificial intelligence is an added advantage, and the job can pay up to $131,000 per year. Mobile solutions and apps are in high demand, which means that many financial service providers want Android engineers and mobile app developers.
Quantitative Analysts
A quantitative analyst is required to help FinTech startups in making decisions and planning their activities and strategies. Their work involves analyzing huge data sets to gain insights and valuable tips that might be used to improve FinTech services. Skills that are required for this job include:-
- Knowledge of data science toolkits such as MatLab, NumPy, Weka, R, and Python.
- Using data visualization tools and applications such as D3.js and ggplot.
- Using query languages like SQL, Pig, and Hive.
- Knowing how to use NoSQL databases like HBase, Cassandra, and MongoDB.
Data scientists can earn up to $168,000 per year, while quantitative analysis can get $126,000 annually. There is a massive demand for these skills, and it exceeds the supply of skilled data scientists that are available. These are the kind of people that create complex financial models that can make sense out of vast amounts of digital information.
Financial Analysts
FinTech firms require a lot of exploration in terms of analysis of their facts and figures. The analysis is very useful for making better decisions and helps to steer these startups in the proper directions.
With accurate trends forecasts, these firms can deliver better results which makes the job position very lucrative. An academic foundation in Mathematics, Finance, Economics, Accounting, or Statistics is one of the basic requirements for this job.
The job can quickly bring you up to $67,000 per year. One must manage budgets, assemble financial reports, and run forecasts about market trends in the job. You can also serve as a consultant for some firms to ensure that they make better moves and decisions when trading stocks and bonds.
Blockchain Developers
A growing number of financial institutions are adopting blockchain as part of their workflows and culture. Blockchain is quickly becoming one of the more popular decentralized means of financial transactions and is getting more popular by the day. The increased uptake of cryptocurrency also makes it more attractive for FinTech companies that are still very young in their growth.
As such, the number of positions available for blockchain developers has been growing steadily over the years. People skilled in blockchain technology will be in huge demand, and it has an average pay rate of up to $130,000 per year.
Knowledge of programming languages such as C, C++, and Java is required for this job, and other programming skills such as Ripple, Ethereum, and Hyperledger Fabric. Demand for such talent will only grow as there is a huge need for blockchain experts that can work on blockchain engineering projects.
Product Managers
Products that FinTech firms are designing are meant to be used by end-users. Product development for the users, from the initial concepts to the eventual launch of these products, requires a product manager. The product manager determines the release cycle of various products and services and ensures that quality and usability standards are met.
Product management requires plenty of organizational, marketing, and promotional skills and can earn you up to $80,000 per year. You can easily earn up to $133,000 as a product manager in other places, such as Silicon Valley.
Various FinTech products and services require a product manager to take the products from the concept stage to the consumers. A product manager can also be a project manager for a new product designed for the market.
Cybersecurity Analysts
Digital security is increasingly sensitive for the modern internet as hackers keep getting better and better. It is essential always to patch up security vulnerabilities that hackers might be targeting before taking advantage of them.
Growing cybersecurity threats for FinTech firms call for greater security for their digital systems, information architecture, and organizational practices. A cybersecurity analyst studies the existing security systems and probes them for weaknesses, which must be sealed up before hackers discover these flaws and break into sensitive financial systems.
Cybersecurity experts need experience in:-
- Investigating incidents and responding appropriately
- Risk management and compliance
- Encryption
- Digital communication
The average pay for a cybersecurity expert is $81,000 per year, and they are responsible for keeping FinTech start-ups safer from malicious threats. Cybercriminals are always trying to breach information systems, and it is the responsibility of the expert to secure systems before they are attacked. There is a shortage of these skills in the market, and professionals are getting snapped up by start-ups.
Risk Control Managers
FinTech is relatively volatile as it is the combination of two very fragile domains. As such, it is still very vulnerable to risks regarding compliance. The level of risks involved for a field that is not fully explored means that risk management is a huge part of keeping these firms alive and running.
With an increasing risk burden, the demand for risk control managers is also growing. It is their job to analyze the risks that businesses face, mitigate the effects of these risks and ensure that the firms can achieve their business goals. Salaries can go as high as $89,000 per year for a risk control manager, and there is always room for promotions.
Compliance Experts
There are many rules, standards, and regulations that FinTech firms must constantly meet. These companies should be capable of adhering to set regulations by various bodies of the government as well as international law. As such, a compliance expert is needed to ensure that the firm stays on the right side of the law regarding how they conduct their operations.
With a degree in Compliance Management, Regulatory Compliance, Accounting, or Economics, you can easily find yourself a job in FinTech. Additional certifications might also be required, and the least you can expect from this job is $60,000 per year.
There are always new regulations affecting FinTech firms. With compliance management, financial crimes can be reduced and terror financing eliminated.
Culture Champion
For FinTech firms to be successful, a positive and innovative image is essential and crucial for success. Keeping talent is vital to keeping the firms running, and with HR champions, the workplace can be made better, thus keeping the skill and talent pool in-house.
These experts will be in great demand as they will be required to build a diverse workplace that can accommodate varied talents and cultures.
Business Development Managers
Business development managers are beneficial to FinTech organizations since they help the firms grow their income and ensure growth and stability for startups.
They are responsible for establishing partnerships, tapping into existing markets, and looking for new markets. This excellent job places you at the front-line of FinTech growth and is critical to various startups that need to establish themselves in the market.
Data Specialists
Understanding the market and the customers are made more accessible and more effective with the use of data. Social data is increasingly being used to understand customers and various market segments.
Customers are looking for tailored services from FinTech firms, and as such, there is a growing need for data specialists who can create solutions that will sift through information to produce better insight for the market.
UI Experts
In addition to developing applications, interfaces that will power FinTech mobile and web solutions have to be friendly and intuitive. This means that UI experts are in high demand as they are required to develop various interfaces for websites and mobile applications.
UX/UI designers are also designed to analyze existing assets used in the FinTech firms and suggest modifications to make the applications more efficient. Ease of use, for many applications, is the reason for increased productivity which is a massive advantage for various firms.
Account Executive
Client needs are a top priority for FinTech startups, and understand these needs is essential. It ensures that the startup can determine whether it can meet the needs of the client.
An account executive should oversee others to ensure that they can meet the customer's expectations with high product products and services. Their average salary is $69,000 per year, and they are in high demand by FinTech firms.
Project Manager
The project manager is responsible for planning and overseeing projects that a FinTech firm undertakes. They take projects from the initial conceptualization right through to the very completion of the projects. They also coordinate the available resources to ensure that everything gets completed within schedule and budget.
The end product must also meet the objectives and requirements of the firm. The project manager also reports regularly to management and tracks costs to ensure that the project is complete within budget. Project managers earn about $82,000 per year.
WealthTech and Robo-advisors
The users of FinTech services are mainly the younger generations, where most interaction with the startups is through chat. Making recommendations to the clients is essential for driving sales and attracting new prospects.
With minimal human intervention, a Robo-advisor can manage investments and provide financial investments. They also create investor profiles to analyze their behavior and patterns that can be useful for driving revenue for FinTech firms and startups.
Developers and analysts that engineer these programs are in high demand making the job very lucrative. AI tool development is a lucrative career opportunity and more exciting than developing mobile apps or web applications.
Conclusion
FinTech is here to stay, and there is no denying that it will infringe a lot of the territory traditionally governed by banks. These firms might seem very volatile at the moment, but the kind of talent that they are attracting means that they will be stable in good time and keep growing steadily.
Other factors that make FinTech more likely to survive are the growth of Bitcoin and cryptocurrencies, which work on Blockchain technology. The jobs listed above are the best and highest paying FinTech jobs.
