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What You Need to do to Break into Fintech

What You Need to do to Break into Fintech

Fintech products can serve many purposes. That means anyone interested in working in the fintech sector has numerous options to consider when evaluating potential careers.

For instance, someone who wishes to leverage their talents to improve the lives of others may pursue a job with one of the many fintech companies helping unbanked and underbanked people access crucial financial services. On the other hand, someone eager to embrace the new face of banking may choose to work for a fintech startup developing a banking app.

Regardless of your specific goals, pursuing a career in fintech is a smart move. The industry is growing quickly. Additionally, fintech’s disruptive impact on the overall financial services industry suggests anyone who would have worked for traditional financial institutions in the past may now be more likely to succeed if they opt for fintech jobs instead.

You’ll of course need certain skills and qualifications to land your dream fintech career. The following are some general tips you should keep in mind as you develop your career strategy. Apply them now to boost your odds of getting a job offer at a thriving fintech company.

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Know What Skills Are in High Demand

It’s important to understand that you don’t need to be a software engineer to work in fintech. While any tech company will of course require employees who can write the code for their products, you need to remember that there are many other roles you can fill if you don’t have technical expertise. For example, fintech companies still need help from talented marketers to spread the word about their products and services.

That said, you will make yourself a more valuable candidate for open positions if you familiarize yourself with the skills that are in particularly high demand at fintech firms, and take the necessary steps to ensure you possess one of them. Many fintech companies are currently prioritizing hiring experts in blockchain, cryptocurrency, and AI/machine learning.

However, they’re also seeking employees who understand the financial services industry. Fintechs need assistance from people who can help them navigate the regulations that can otherwise prevent them from growing as quickly as possible. While some fintech companies partner with banks or other traditional financial institutions to address regulatory issues, others rely on their own in-house teams.

Seek Out Workshops and Internships

The notion that getting a job is “all about who you know” holds true across a range of industries. Fintech is no exception. When there is substantial competition for jobs in a given industry, those who already have a robust professional network in the field will naturally have an advantage over those who do not.

That doesn’t mean you’ll struggle to break into fintech if you don’t currently know any major industry players. It does mean you may wish to identify other methods of making those connections.

One way to do so is to apply to an internship or workshop program with a fintech company. Although an internship may involve working for a period of time without financial compensation, it may be worthwhile in the long run. This is because you’ll get the opportunity to demonstrate your skills to people who can help you get hired in the future.

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Draft a Pitch (and Perfect It)

Again, because fintech is currently thriving, there can be substantial competition for fintech jobs. You thus need to clearly illustrate why you stand out in the crowd of job-seekers. Some have achieved this goal (and managed to break into fintech) by creating a pitch. However, instead of pitching a product or business idea to investors, they are pitching themselves to potential employers.

Start by assessing your skills, education level, professional certifications, and major professional achievements up to this point. Identify which factors might make you a strong candidate for a job at a fintech company. These factors don’t all need to directly relate to each other.

For example, you might have previous professional experience marketing a new app. You also might have data analytics experience. While these two experiences are relatively unrelated, both can help you succeed in fintech. That means both are worth highlighting in your pitch.

Your goal is to essentially draft a statement explaining precisely why fintech companies should hire you. If you’re willing to put in the extra effort, you could strengthen your pitch by modifying it for each job to which you apply, indicating you took the time to understand a startup’s specific needs.

Just remember, fintech is a growing industry. Employment opportunities are already abundant. However, new opportunities will also continue to arise in the coming years. If you’re persistent and dedicated, you can certainly take advantage of them.