FinTech job demand up 615% from August 2020 says LinkedIn
The explosion of Financial Technology (FinTech) over recent years is being reflected by employers on LinkedIn. The employment-oriented platform announced in an article that job listings containing the terms "crypto" or "blockchain" grew 615% from August 2020 according to the LinkedIn Economic Graph Team.
The surge of FinTech and blockchain related positions is hardly surprising given the growth and interest in the space with the White House considering a crypto Executive Order; the Securities and Exchanges Commission (SEC) approving a synthetic Bitcoin ETF; and the Final Report of the Senate Select Committee Senate Report into Australia as a Technology and Financial Centre being released.
It's not only crypto/digital asset companies that are seeking out candidates with FinTech experience, traditional institutions have also contributed to the rise in job advertisements. Posting up to 30 new roles in a single week, the data shows that finance giant JPMorgan Chase is one of the top employers for roles in the FinTech space.
Blockchain software developers, engineers, auditors and marketers have all been recruited by large financial institutions. This indicates that FinTech is closer than many think to truly becoming embedded into the traditional financial sphere.
The team at LinkedIn noted that financial services firms were projected to hire over three times as many staff with experience in FinTech in 2021 than in 2015. Brady Dougan, former CEO at Credit Suisse noted the influence of the FinTech industry in the LinkedIn article:
The financial services industry is all about continued reinvention, and the power of technology has been dramatic
The continued expansion of FinTech encourages growth and development in traditional financial institutions, so much so that the demand for candidates with experience in the industry will become more and more sought after.