London remains a hot spot for fintech jobs, facing strong competition from Amsterdam, Paris and Geneva. The fintech market is heavily candidate-driven, with top talent typically receiving two to four job offers.
It is according to Harrington Starr, a recruitment company specializing in financial technology, which has studied the trends of the current job market.
Harrington Starr’s 2024/25 Salary Survey provides analysis of the current jobs market, highlighting both challenges and opportunities. The London, Belfast and New York-based recruitment firm offers in-depth analysis of salary trends, hiring practices, and market dynamics amid economic recovery.
In the investigation, Toby Babb, CEO and co-founder, notes the “green shoots of recovery” visible in mid-2024, with a return of investments to the technology and fintech sectors.
He stresses that strong candidates can expect multiple offers, reminiscent of the competitive job market of 2022, and advises companies to offer fair rates and comprehensive offers to attract top talent, warning of wars unsustainable auctions.
“The message to employers is to pay a fair market rate,” Babb writes. “Present comprehensive, robust packages and create an interview and onboarding process that makes it easy to say yes to your company. I have never agreed with bidding wars and firmly believe that companies should not bank on their long-term profitability but rather overpay average talent.
Thoughts
Ian Bailey, The vice president at Harrington Starr reflects on the turbulence of the past year, marked by economic challenges that led to reduced hiring and fewer vacancies. Despite this, demand for individual contributors with established networks has remained high. Bailey predicts a more robust job market in the second half of 2024, boosted by growing investor confidence and strategic senior executive hires.
“The availability of talent has often meant that companies have been less inclined to hire based on potential, opting instead for the ‘finished article’ and someone who would be ‘hit and miss’,” he said. “While this still seems like the logical thing to do, I think it will lead to retention issues when the market turns (as it always does) with new candidates either feeling stagnant because they don’t have not learned new skills or not earned as much as expected. they could elsewhere
Rob Grant, COO of recruiting firm, discusses significant layoffs and economic instability over the past 18 months. He notes that 2024, despite a slow start, shows signs of stabilizing markets.
“The year 2024, despite a relatively slow start, is showing extremely encouraging signs as we head into the second half of the year,” he said. “As things begin to stabilize, it will be interesting to see how salaries reflect the friction between clients seeking to promote a return-to-office culture and candidates who have quickly embraced the ‘brave new world’ of hybrid working and remotely. There is a rampant feeling that candidates believe a bonus should be added if flexibility is reduced.
Diversity matters
Nadia Edwards Dashti, CCO and co-founder of Harrington Starr, highlights the importance of advancing gender pay equity. She presents five strategies to promote fair pay for women, emphasizing the need for an inclusive work environment and fair pay practices.
“Companies must be prepared to be open and transparent on these issues in order to attract and retain the best talent. Those who understand this are leading the way in closing the gender pay gap. » She said.
THE Harrington Starr Financial Technology Salary Survey 2024/25 offers an interesting insight into the fintech job market as it navigates economic recovery. The insights from this survey are crucial for employers and job seekers who want to succeed in a competitive and evolving industry.
