Fintech jobs are in high demand in the United States

Last Updated on November 3, 2023 by SPN Editor

Fintech jobs are in high demand in the United States as the financial industry looks to technology to improve and innovate services and products. The rise of digital banking, mobile payments, online investing, and other fintech solutions has created a demand for technology and finance professionals.

Every service requires the use of technology. The financial sectors require new and improved technologies to better serve their customers. As a result, jobs in financial technology (Fintech) are in high demand in the United States.

The fintech industry in the United States is expected to create around 100,000 new jobs by 2023-2024, according to a report published in the United States. According to the report, fintech jobs typically pay more than the national average, with an annual salary of around $100,000.

Fintech’s growth has also resulted in an increase in job opportunities in related fields such as cybersecurity and data analytics. As fintech evolves and expands, the demand for fintech professionals is expected to rise in the future.

Furthermore, due to the growing demand for innovative financial solutions, fintech jobs are in high demand in the United States, and the growth of the fintech industry has created a wide range of job opportunities for professionals with a background in technology and finance.

In the United States, a career in financial technology (fintech) typically entails using technology to improve and innovate financial services and products. This can include working on digital platforms and mobile apps for consumers, as well as developing and implementing new software and systems for banks and other financial institutions.

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Job roles in fintech can include software engineers, data scientists, product managers, and business development professionals. To pursue a career in fintech, one typically needs a strong background in technology, as well as experience and knowledge of the financial industry. A degree in computer science, engineering, or a related field is often required, along with relevant work experience.

Different avenues of Financial technology jobs

Fintech jobs are required in different avenues in the United States, some important avenues for fintech jobs are:

Digital banking: Developing and implementing digital banking platforms and mobile apps for consumers to manage their finances.

Payment processing: Creating and maintaining systems for processing digital payments, such as credit card transactions and mobile payments.

Investing: Developing robo-advisory platforms for investment management, and creating technology for online trading and stock analysis.

Lending: Developing platforms for peer-to-peer lending, as well as alternative lending methods, such as crowdfunding and microfinance.

Insurance: Using technology to improve insurance products and services, such as using data analysis to personalize insurance policies for individual customers.

Fraud detection and prevention: Developing systems and algorithms to detect and prevent financial fraud, including machine learning and AI.

Personal finance management: Creating apps and tools to help individuals budget, save, and invest their money effectively.

Blockchain and cryptocurrencies: Using blockchain technology to create decentralized financial systems, and developing and trading cryptocurrencies.

Wealth management: Using technology to improve wealth management services, such as portfolio management and financial planning.

Regtech: Developing technologies to help financial institutions comply with regulatory requirements.

The average salary for fintech jobs in the US

The average salary for fintech jobs in the United States can vary widely depending on the specific role, industry, location, and level of experience. However, salaries in fintech tend to be higher than the national average, as the field requires a high degree of technical expertise and knowledge of the financial industry.

According to Glassdoor, the average salary for a fintech job in the United States is around $100,000 per year. However, this can range from around $50,000 to over $200,000 per year, depending on the specific role and level of experience.

For example, a software engineer working in fintech can expect to earn around $125,000 per year, while a data scientist can earn around $120,000. A product manager in fintech can expect to earn around $135,000 and a business development professional around $100,000 per year.

Companies opening for fintech jobs in the United States

There are many companies recruiting fintech professionals in the United States, ranging from big banks, insurtech, regtech, robo-advisory, and many more.

JPMorgan Chase: One of the largest banks in the US, JPMorgan Chase is actively recruiting fintech professionals to help drive innovation and digital transformation across its business.

Goldman Sachs: The investment bank is actively recruiting fintech professionals to help build out its digital capabilities, including its Marcus digital consumer bank.

Capital One: The bank is actively recruiting fintech professionals to help drive innovation and digital transformation across its business.

Wells Fargo: The bank is recruiting fintech professionals to help drive innovation across its business, including in areas such as digital payments and data analytics.

American Express: The financial services company is actively recruiting fintech professionals to help drive innovation across its business, including in areas such as digital payments and mobile banking.

Robinhood: The zero-commission brokerage firm is actively recruiting fintech professionals to help drive innovation across its business, including in areas such as mobile trading and cryptocurrency trading.

Fidelity Investments: The investment firm is actively recruiting fintech professionals to help build out its digital capabilities, including its robo-advisory platform.

BlackRock: The asset management company is actively recruiting fintech professionals to help build out its digital capabilities, including its Aladdin investment platform.

Charles Schwab: The brokerage firm is actively recruiting fintech professionals to help build out its digital capabilities, including its robo-advisory platform.

Square: The fintech firm is actively recruiting fintech professionals to help drive innovation across its business, including in areas such as digital payments and point-of-sale systems.

To obtain fintech jobs in the United States, you should first consider obtaining relevant finance and technology education and experience. A related degree, such as finance, economics, or computer science, as well as experience working with financial technology or in a related industry, may be required.

It’s also a good idea to keep up with the latest fintech trends and technologies, as well as to learn new skills like programming, data analysis, and financial modeling.