The Growth of Fintech
Fintech has been growing at an exponential rate, with an estimated $200 billion being invested in the industry in the past 8 years. Perhaps once considered as a niche sub-section of the greater Financial Service sector, Fintech startups and companies have since matured to become disruptive players in this previously stagnant industry. Besides its increasing investments, we can look at other metrics as well: Fintech has become a major employer in the industry, topping some of the world’s most notable financial ‘super-hubs’ like Tokyo, Hong Kong, Paris, Singapore, Zurich or Frankfurt.
Fintech Employs More than 300,000 People
With its growth and increasing mainstream attention, Fintech has become attractive for job-seekers and students who are looking to join a dynamic and fast-growing industry. According to CFTE’s research, the top 225 Fintech Unicorns, companies whose valuation exceed $1 billion, employ more than 300,000 individuals worldwide. If Fintech was a city, it would only be surpassed by New York and London in terms of number of employees.
Fintech is Growing Faster than London
Although Fintech is trailing behind New York and London, it is safe to assume that the industry will surpass these Financial centres in the near future. Currently, London employs 400,000 people in the Finance industry, whilst Fintech employs 300,000, however, London is hiring 10,000 individuals per quarter in comparison to the 40,000 in Fintech – meaning Fintech is hiring 4 times faster.
To learn more about the landscape of jobs in Fintech and gain an insight on the necessary skills to succeed in this dynamic and ever-evolving industry, download the world’s first Fintech Job Report.