The most in-demand jobs in Fintech
Early-career opportunities in fintech span a wide range of roles, covering product management, engineering, finance, data science and analytics, compliance, digital marketing and security, says Siva Venkataraman, Vice President – Finance and HR, PeepalCo.
Currently, he says, the most sought-after positions for entry-level professionals include SEO/social media analysts, digital marketing content writers, data analysts, junior product managers and cybersecurity analysts.
“At Simpl, we continue to attract the industry’s top talent in data science, back-end engineers/software developers, MIS analysts, product managers, design, marketing and more,” says Simple Spokesperson.
It is this close coordination between these technology, non-technology, design and marketing roles that plays a critical role in creating solutions to meet the rapidly evolving needs of our merchants and consumers, they add.
Whereas, Vishal Pratapwant, Senior Vice President – Engineering & Transformation Group, Global Services, Fiservsays that roles in product development, product ownership, data science, automation, and cloud computing are in high demand for early-career professionals. Additionally, proficiency in Python programming, machine learning, cloud architecture, artificial intelligence, and data analytics is invaluable.
Skills required to excel in these roles
In the evolving fintech sector, new graduates need to acquire a diverse set of skills beyond just a degree, Venkataraman explains. According to him, key skills include technical expertise in software development, data analytics and cybersecurity, as well as soft skills like financial literacy, problem-solving, communication and adaptability. From the point of view of the cash register sector, the Simpl spokesperson says they are looking for people who are dynamic, open to exploring new challenges, culturally fit and who demonstrate adaptability and other soft skills, including communication. He further explains how the post-pandemic world operates within the framework called BANI (‘fragile’, ‘anxious’, ‘nonlinear’ and ‘incomprehensible’), and therefore, the ability to adapt and iterate quickly is more essential than ever.
Apart from technical skills, Pratapwant says soft skills such as problem-solving, effective communication and agility are essential for new graduates who want to thrive in fintech. Additionally, leadership qualities are crucial, especially the ability to lead with empathy and inclusion.
Giving us a broader perspective on the skills required, Robin Bhowmik, Chief Business Officer, BFSI’s Manipal Academy, says that among the various capabilities required to thrive in a fintech career are coding skills (programming), working with datasets (data analytics), knowledge of cloud-based technology such as Azure or AWS (cloud computing), training in artificial intelligence like TensorFlow or PyTorch (machine learning), distributed ledger systems, for example, components of the Ethereum ecosystem like Solidity, Truffle Suite, etc.
Soft skills such as communication, networking, people management, ethics, problem solving, teamwork, business acumen and compliance are equally important, he adds.
Courses to succeed in these roles
According to Venkataraman, there are several online and offline courses and programs available to help individuals specialize in fintech. He recommends ISB’s Fintech Leadership Program, IIM Calcutta’s Executive Program in Fintech, Banking and Applied Risk Management, IIM Lucknow’s Fintech Leadership Program, and BITS Pilani’s Masters in Fintech for those interested.
Moreover, in the current context, where online education has removed all geographical barriers, he says many international universities, such as the University of Pennsylvania, HKUST and Oxford, offer fintech courses ranging from beginner to advanced level, which Indian professionals can access anytime and from anywhere.
Positive trends in campus hiring
In the current war for talent, campus recruitment for entry-level jobs has increased across industries and fintech companies are also making the best use of the available talent pool.
Pratapwant explains how Fiserv accesses promising young minds from the country’s top universities. “As part of our approach to building a diverse, high-performing and engaged team of associates, we hire recent graduates from the country’s top engineering schools. Our campus recruiting initiative – the Technology Analyst Program – provides structured career development and upskilling opportunities for recent engineering graduates.”
Additionally, the company also offers development programs for young professionals who work with it. YoPro, their employee resource group for young professionals, focuses on mentoring and personal growth while fostering the development of early-career associates, he adds.
Fintech companies are actively looking for new graduates with both technical and soft skills, confirms Bhowmik. As for the salary structure, he says the average salary for entry-level fintech positions varies depending on factors such as location, company size and specific roles.
That said, compensation can also be influenced by qualifications, level of experience or a person’s ability to negotiate better terms based on their situation, he adds.
Freelance job opportunities in the sector
The gig economy is currently experiencing significant growth and, as a result, the culture of freelance work has spread to all other sectors. But is Fintech experiencing the same situation?
In the fintech sector, where data security is paramount because sensitive financial information is handled, most positions are typically not open to part-time or freelance arrangements, Venkataraman says.
However, he says, some junior/entry-level roles like content writer (focused on financial literacy), SEO analyst, product analyst, and customer service specialist may be opportunities where fintech companies could consider hiring freelancers.