Fintech is probably one of the most exciting industries to be in these days. In fact, according to recent statistics, this industry has received almost $150 billion globally in investments in the past year and is still steadily growing with no signs of slowing down anytime soon.
And why not? We are living in the digital age, after all. What’s stopping the financial industry from utilizing the same level of technology that other industries like entertainment and travel have already widely utilized?
The Different Fields to Explore
This industry probably doesn’t need any further introduction from you, especially if you’re already considering starting a career in fintech. In this light, the first thing that you should definitely look into is the different fields within the industry that you can explore.
New-age banking, money management platforms and mobile applications, and crowdfunding programs are just some of these fields. New aspects are also being developed and discovered each day as fintech services continue to expand.
You also have the option to start a new business should you prefer more autonomy in your career track. Think about this: there were 24 fintech startups that achieved the coveted unicorn status in 2019 alone.
Starting a Career in Fintech
In this light, here are some ways in order to launch your career in the right direction.
Learning the Ropes of the Industry
What sets this industry apart from others is that it lies somewhere in between two established ones, finance and tech. Experience in either of the two will definitely give you an advantage.
Given the recent rise in demand, it’s no surprise that even the biggest universities such as Harvard and Oxford are offering fintech programs both online and offline.
We recommend a more comprehensive program, thoughーwhenever possibleーcompared to a short course. Doing so will open an opportunity for an internship that can give you valuable experience compared to just earning a certificate.
There are also various factors to think about when choosing an employment opportunity beyond just salary and benefits. For instance, since the fintech community is still fairly new and growing, the networks and relationships that you will be able to establish today will certainly prove useful later on.
Fintech jobs are certainly not like other positions where the pros and cons between low salary vs benefits can tip the balance significantly. Keep in mind that experience is everything in this industry and it will be the most essential factor when just starting out.
The Benefits of a Career in Fintech
If you feel that this is a potential career for you, then allow us to share with you some of the benefits that you will be able to enjoy should you choose to follow it.
It is flexible.
One of the things that people from more established industries are sometimes concerned about is the stability of their positions should technology advance further. It’s one of the most controversial topics surrounding AI integration, for instance.
You won’t experience the same worries in fintech, though. It allows you to be more flexible and adapt to the ever-changing needs of this digital age.
It follows your ideals.
Those who value transparency will certainly appreciate fintech services. They are less prone to adding the usually hidden fees associated with traditional financial institutions. They even offer “a la carte” options to make their services more accessible to a wider audience.
We also like the fact that fintech invites collaboration instead of competition. It is not unheard of for various fintech companies to partner up and work towards the same goal. This creates a better ecosystem where everyone, including customers, benefits.
It contributes to the global economy.
Finally, fintech doesn’t just blur the lines between companies and digital platforms. They also go beyond national and economic borders. Because of this industry, we are probably looking at a future where there won’t be any international fees for financial products and services anymore.
Time and location won’t matter as well, as more and more platforms enable real-time transactions as long as you have access to a secure and reliable network connection.
Just imagine being able to transfer money from Asia to the US while you’re traveling in Europe, and all from the convenience of your smartphone.
Fintech Jobs Are the Jobs of the Future
The services that fintech provides to clients can sometimes feel as if they are straight out of a spy film or a sci-fi novel. That’s because they do offer services that take advantage of the latest technologies. They are leading in innovation too.
There are still a lot of opportunities to get into fintech as the industry continues to expand. However, we really cannot say for how long. They hold the jobs of the future, so we can expect these chances to wane down sooner or later.
If you want to get into fintech, then there’s no better time than right now.
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