Unquestionably, your skills, degree and abilities to demonstrate that talent to potential employers, will determine how likely you will get a high-paying FinTech position. Whether targeting a job or wanting to start a business startup, knowledge of finance and technology is a must. However, if you have a good understanding of finance and technology you can create a million-dollar fintech business like Bharatpe, Upstock, Paym, cred, Razor pay etc. Once you get into a job or startup as a career option you'll get experience gradually. Fintech is a rewarding career but doesn't get into rumors that you will be a millionaire in a month or two. So stay aware of fake ads running these days like investing in this stock and becoming a millionaire in 30 days or in 100 days. FinTech jobs are increasing exponentially and are also a good career option for finance aspirants. In this blog, we will discuss various entry-level jobs to the high-paying jobs that are available in the fintech industry. Before that let us understand why one should opt for fintech as a career option.
Also Read: Challenges of remote work
If we see traditional banking, there are a lot of challenges and flaws. some challenges are: Basic banking operations are time-consuming and hectic like Opening a bank account, depositing, or withdrawing cash etc. One needs to take the physical form and need to stand for hours in a queue. But finance in today's era is getting upgraded to fintech: merging banking concepts with technology. Now withdrawing or depositing cash or making payments are just a few clicks away. You just need to take your phone out and open a fintech mobile app like Paytm, Bharatpe, etc and pay almost any bill, book flight tickets, bus and train tickets, or pay the insurance and a lot more. These apps are capable of doing most of the banking operations like sending money to another bank account, Trading, online transactions, etc. The sweeping changes brought about by fintech innovation can be easily visualized, and it is important to acknowledge that these advancements have been made possible through the efforts of dedicated fintech professionals. The below illustration will help you understand the transformation bought by the fintech industry.
Fintech encompasses a wide range of applications, including mobile payments, digital banking, cryptocurrency, investment management, Artificial intelligence and insurance technology. The goal of fintech is to provide financial services that are more accessible, efficient, and cost-effective than traditional methods. It has revolutionized the way we interact with money and made it easier for individuals and businesses to manage their finances. Finance is the backbone of an individual from small to big companies to even a country. FinTech jobs are increasing exponentially and are also a good career option for finance aspirants. later in this blog, we will discuss various entry-level jobs to the high-paying jobs that are available in the fintech industry. Before that let us understand why one should opt for fintech as a career option.
We discussed, how financial technology turns the table from traditional to modern fintech financing. Hence it can be a rewarding career for one who is really willing to build a career. In the same sequence let us discuss the advantages of the fintech industry that a candidate can easily benefit from.
A career in fintech can be a challenging and rewarding choice for those who are interested in finance, technology, and innovation. Fintech career choice also comes with various other opportunities like career growth, impactful work, global exposure, a dynamic job, company culture & financial rewards. Fintech startups offer a compelling option for job seekers looking for an exciting and dynamic career.
A combination of finance, technology, and problem-solving skills are important for starting a career in fintech. Depending on the specific job role, additional education or certifications may also be required. Like, If you want to become a blockchain developer or data scientist. Then it is preferred that you have solid coding and data structure foundation with a technical degree. Whereas product development and quality analysis need a management and/or technical degree.
To work in fintech, you need to have good skills in finance, computers, and problem-solving abilities. Some jobs might need more formal education or certificates. For example, if you want to work as a blockchain developer or data science, it's better to know how to code and understand data structures. To do product development or quality analysis, you usually need a degree in management and technology. But if you want to be a financial analyst, business analyst, or cyber security expert, having a B.com/CA/CMA, BBA/MBA/Business Analytics degree, or a diploma/degree in cyber security can help you do even better.
It may have been a challenge in the past, where formal education is a must that should belong to a similar field. If you want to become a financial analyst, you must have accounts in your sr. secondary, graduation, and post-graduation. At the beginning of the 21st century and with the rapid improvement in technology, it has become easy to acquire the necessary skills and knowledge and succeed in a new field. If you are willing to learn and adapt, you can master any kind of education/skill. Willingness to learn and a commitment to properly embrace a new field, you can achieve anything that you set your mind to.
As far as the big tech company's concerned it may vary from company to company which kind of education qualification they need. They may ask for a degree like b.tech (in computer science), M.tech, MCA, or BCA, or maybe any specialization. So you have to go through the company's GD for further clarification about educational requirements.
Top fintech companies in the world
| Company Name | Market Value (in millions) | Profit (in millions) | Employee Count |
|---|---|---|---|
| Stripe | 95,000 | 2,200 | 5,000 |
| Square | 138,000 | 1,900 | 6,000 |
| Ant Group | 200,000 | 17,700 | 120,000 |
| PayPal | 300,000 | 4,200 | 29,000 |
| Coinbase | 70,000 | 1,200 | 1,700 |
| Adyen | 100,000 | 1,100 | 3,500 |
| Robinhood | 40,000 | N/A | 1,200 |
| Klarna | 45,600 | 1,400 | 4,000 |
| SoFi | 10,300 | N/A | 3,000 |
| Revolut | 33,000 | N/A | 2,000 |
Various positions and salary ranges are offered worldwide.
| Fintech Positions | Salary Range (in thousand dollars) |
|---|---|
| Blockchain Developer | $60 - $150 per annum |
| Data Scientist | $80 - $150 per annum |
| Product Manager | $80 - $160 per annum |
| Quantitative Analyst | $70 - $150 per annum |
| Cyber Security Analyst | $70 - $120 per annum |
| App Developer | $60 - $120 per annum |
| Financial Analyst | $60 - $100 per annum |
| Business Analyst | $60 - $90 per annum |
| Compliance Expert | $70 - $140 per annum |
| Digital Marketer | $45 - $90 per annum |
Note:- Salaries can also vary depending on the economic conditions and cost of living prior experience, place of job, size of the company etc. in different parts of the world.
| Company Name | Market Value (in millions) | Profit (in millions) | Employee Count |
|---|---|---|---|
| Paytm | 16,000 | 550 | 20,000 |
| PhonePe | 7,000 | 350 | 3,500 |
| Razorpay | 3,000 | 100 | 1,500 |
| PolicyBazaar | 2,500 | 150 | 5,000 |
| MobiKwik | 1,000 | 50 | 1,000 |
| Zerodha | 4,000 | 200 | 1,500 |
| Pine Labs | 3,000 | 200 | 2,500 |
| Lendingkart | 1,000 | 50 | 1,000 |
| BankBazaar | 1,000 | 40 | 1,000 |
| NiYO | 500 | 20 | 500 |
various positions and their salaries offered in the fintech industry of India
| Fintech Positions | Avg. Salary Range |
|---|---|
| Blockchain Developer | ₹5 LPA - ₹35 LPA |
| Data Scientist | ₹5 LPA - ₹25 LPA |
| Product Manager | ₹10 LPA - ₹28 LPA |
| Digital Marketer | ₹3 LPA - ₹15 LPA |
| Quantitative Analyst | ₹6 LPA - ₹25 LPA |
| Cyber Security Analyst | ₹5 LPA - ₹20 LPA |
| App Developer | ₹4 LPA - ₹25 LPA |
| Financial Analyst | ₹3 LPA - ₹15 LPA |
| Business Analyst | ₹4 LPA - ₹18 LPA |
| Compliance Expert | ₹8 LPA - ₹35 LPA |
Note:- The salary range depends on various factors like prior experience, place of job, cost of living, size of the company etc. so actual salary may vary.
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Data Source:- The data shown in this blog is gathered from various sources, including financial news websites, company websites, and industry reports. Some of the sources are: Economic Times, Business Standard, Forbes and Statista
