Fintech salaries & market trends

What key trends have you witnessed  in 2017?

Fintech is at the forefront of innovation and growth in the wider financial services sector and London continues to be a global powerhouse, even in the wake of Brexit. One of the reasons for this is the continual support of the investment community, who ploughed circa £2.5billion into the sector in 2017.

Although not a completely new sector in the current market, fintech firms are is still relatively young and so don’t have a wide pool of sector-specific talent. This meant that firms needed to consider candidates from more traditional financial services backgrounds when hiring. Cultural fit, the ability to drive innovation and a passion for digital were essential requirements, as the atmosphere of an agile start-up is very different from a corporate bank.

What key trends do you expect to see over the next 12 months?

We expect hiring to be more consistent in 2018 and demand for senior roles to increase as firms require more senior talent to drive real growth. Content professionals who are able to creatively communicate often complex products to market will also be essential. 

At the end of 2017, we saw a good number of general marketing roles requiring experience across social media, websites, campaigns and event management, as well as external and internal communications. We expect this to continue into 2018.

Digital banks will look to bring more digital skills in-house, switching their reliance on agencies. This will be particularly relevant for search, PPC and programmatic experts. AI, automation, data analysis and mobile technology will all be areas where fintech will really push the boundaries in 2018.

What methods are companies using to attract and retain the top talent?

Fintech requires fast-paced, adaptable and innovative marketers and, as such, employers look for candidates from other similar start-up and incubator backgrounds. Here, the excitement and career progression and lucrative salaries can often prove enough attraction.

Providing very flexible working policies attracts strong candidates from more traditional financial services companies. More nimble firms or start-ups often find it easier to offer flexibility, including working from home and flexible hours, which is a great appeal to candidates who continue to seek a better work-life balance.

Do you anticipate any changes to permanent salaries and bonuses over  the next 12 months?

Yes, especially at the more senior head of/director of and CMO levels. As the fintech market continues to grow and mature, attracting senior hires is going to be key and thus candidates who have a track record of increasing ROI will be in high demand. These individuals can be expected to be incentivised by an attractive salary, performance-related bonus and in some cases potential for equity in the business.

Contract roles & day rates

Fintech continues to be a highly attractive space for contract candidates with many applicants keen to explore opportunities. Interim hires have been in demand from smaller fintech firms who are looking to set up marketing functions and create strategies through experienced interim professionals, who then pass a more BAU approach onto slightly more junior permanent hires.

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