Even at the beginning of the previous decade did one not imagine that our lives would become so intertwined with digital technology. People of all ages, teens to twilight, are hooked on to the ever-competing smart gadget that does everything but wash our dishes and hair.
And with the advent of the smartphones and their resident applications, we have somehow seamlessly stepped into the future, one that was only possible in sci-fi fantasies.
Every business, from candle makers to banking institutions, have found a way to utilize the power that technology has bestowed upon us to increase their utility and reach.
Fintech, or the “Brangelina” name given to the marriage of Finance and Technology, has now become an integral part of our lives. And seems like things in Fintech are here to stay, outliving many marriages, including Brad and Angelina’s. So, what has Fintech given us in particular? Mainly access, efficiency, and speed.
Fintech innovations have managed to transform financial transactions, making them user friendly and secure at the same time. You may recognize its utility in mobile wallets for payments, online banking and insurance, wealth management and investments online, cryptocurrency transactions, etc.
Even with the raised questions, and eyebrows, with regards to Fintech’s security, trust or compliance issues, it is still probably one of the major Finance transaction avenues that is here to stay and grow.
So, the need for a discussion on Fintech careers and how you can become a part of this unstoppable and “clickable” force.
What are the job roles in Fintech?
To become a part of the world of Fintech, you may approach it from both a finance and a technology perspective.
If your niche is technology, you can explore the more technical and engineering roles such as Software Engineer, Data Engineer, Blockchain Developer, Cybersecurity Specialist, and the likes who handle the software end of the fintech platforms and manage their online functioning, risk assessment, stability, and security.
Leaning more towards the business side of the fintech are roles such as Product Management that seeks to find fintech products that meet customer needs, interface designers to meet customer expectations, and Business Analysts to research market trends to ensure product effectiveness.
Finance aligned job roles would work as Financial Analysts, Risk Managers, Compliance Officers, and Credit Analysts. Other roles would involve Data Handling and Management, Sales and Marketing, Operations and the biggies like Chief “insert financial/technology/product/executive” Officers.
What do Fintech Careers pay?
Collated through various sources (Glassdoor, Talent), what we can glean through, it is clear these are well-paid jobs. In the US, the average salary in all entry level positions is about $140,000 per year while those for experienced positions is about $200,000 per year. A gathered breakup of a few positions is given below.
| Job Title | Annual Salary in USA |
|---|---|
| Software Engineer | $112K-$167K |
| Analyst | $73K-$119K |
| Sales | $93K-$174K |
| Product Manager | $108K-$179K |
| Software Developer | $100K-$138K |
| Business Analyst | $76K-$121K |
| Director | $157K-$272K |
What are the top Recruiters in Fintech?
Since the early 2000s, financial institutions are relying more on transforming their system into technology driven, from behind the scenes to customer interaction.
Here are some of the largest Fintech companies based on market valuation conducted by “Top Fintech Unicorns 2024 Review”.
| Ranking | Name | Type | Country | Market Capitalization |
|---|---|---|---|---|
| 1 | Visa | Paytech | USA | $660 Billion |
| 2 | Mastercard | Paytech | USA | $500 Billion |
| 3 | Intuit | Accounting | USA | $165 Billion |
| 4 | Fiserv | Open Banking | USA | $120 Billion |
| 5 | Shopify | Ecommerce | Canada | $150 Billion |
| 6 | Ant Financial | Open Banking | China | $78 Billion |
| 7 | Tencent | Regtech | China | $70 Billion |
| 8 | Nubank | Challenger Bank | Brazil | $60 Billion |
| 9 | Paypal | Paytech | USA | $89 Billion |
| 10 | Binance | Cryptocurrency | Cayman Islands | $62 Billion |
| 11 | Coinbase | Cryptocurrency | USA | $73 Billion |
| 12 | Stripe | Paytech | Ireland | $50 Billion |
| 13 | Block | Merchant Payments | USA | $55 Billion |
| 14 | Checkout.com | Paytech | UK | $40 Billion |
| 15 | Adyen | Paytech | Netherlands | $49 Billion |
| 16 | Afterpay | Fintech | Australia | $29 Billion |
| 17 | Chime | Challenger Bank | USA | $25 Billion |
| 18 | Acrisure | Insurtech | USA | $23 Billion |
| 19 | Robinhood | Wealthtech | USA | $45 Billion |
| 20 | WeBank | Fintech | China | $21 Billion |
What are the best MBA programs for a Fintech career?
In an MBA program equipped to cover the interdisciplinary aspects of both finance and the way technology can be used in its application, students can emerge with the knowledge and the platform to launch a fintech career. It is offered in some, not all, reputed MBA programs with fintech as a specialization.
For those interested in an in-depth study on the technical principles of fintech should seek a Master’s in Fintech course instead as MBA with fintech would still involve a large number of business management courses.
That being said, MBA is certainly a big launch pad for getting the exposure, network, and backing needed to enter into a career focused on the management side of jobs – Product Development and Management, Financial Analyst, IB, Private Equity Analyst, Project Management, etc where both business and skills in the applicable technology are required.
Here are some of the most reputed and rewarding MBA programs for Fintech careers.
| School | Program details (Sourced from individual school pages) |
|---|---|
| Cornell University – Samuel Curtis Johnson Graduate School of Management | – Fintech Intensive capstone project.
– Classes led by distinguished experts. – Blockchain and Cryptocurrency related courses. – Final pitch by students presented to Venture Capitalists. |
| NYU Stern School of Business, New York University | – Fintech Analytics
– Financial Information Systems – Digital Currencies – Applications to Entrepreneurial Finance – Risk Management for Fintech – Fintech Personal Finance and Payments,etc. Students pursue careers in IT, Social Entrepreneurship, Product Development/Management, International Finance, Public Finance, and Real Estate Finance. |
| MIT Sloan School of Management, Massachusetts Institute of Technology | – Consumer Finance
– Payments – Trading – Cryptocurrency – Final pitch by students for innovative ideas in Fintech |
| Stanford University – Stanford Graduate School of Business (GSB) | – Fintech Club for students involving faculty, entrepreneurs, and investors. |
| Duke University Fuqua School of Business | – Duke MBA Fintech Club
– Pioneer in cryptocurrency course with ample resources for crypto startups. |
| University of Cambridge – Judge Business School | – Alumni heading the biggest fintech companies
– Preparing students to undertake fintech entrepreneurship and innovate. |
| Columbia Business School (CBS), Columbia University | Courses in
– Bitcoin and Cryptocurrencies – Consumer Financial Services – Electronic Trading – Digital Literacy for Decision Makers – Entrepreneurship & Innovation in Financial Services And more. |
| University of California, Berkeley – Haas School of Business | – Courses in Fintech
– Fintech Club to connect students with career opportunities, build networks with potential employers and expose students to embedded finance, payments investment management and social impact. |
| University of Southern California (USC) – Marshall School of Business | – Fintech courses
– Location close to Fintech hub – Access to Fintech resources like industry leaders and strong alumni network. |
| Imperial College Business School | – Centre for Financial Technology providing support to research in Fintech. |
So, check out your options and drop us a line at info@mbacrystalball.com if you are seeking professional help to kickstart your career in Fintech with an MBA, or even a Master’s degree in Finance.
Plus some more for late night reading,
