Tiffany Sterkhart●19 mei 2023
How Much is a Fintech Salary?
The average fintech salary in the US is $130,000 per year, with entry-level salaries starting at $94,135 per year. According to Lightcast.com, the most experienced fintech professionals can earn up to $185,909 per year.
Fintech-baan
- Financial Quantitative Analysts ($110,289)
- Blockchain Engineer ($149,999)*
- Business Intelligence Analysts ($81,163)**
- Information Security Analyst ($102,606)
- Financial Risk Specialists ($100,006)
- Financial Analysis Manager ($130,282)
- Senior Computer Programmer ($100,867)
- Computersysteemanalist ($ 99,278)
- Bron: Lightcast
*Bron: ZipRecruiter
**Bron: Glassdoor.com
Career prospects
As global economic and technological forces continue to shift the world's population toward a cashless society, the need for financial technology professionals is expected to grow by 11 percent or more between 2021 and 2031.
A recent feasibility analysis by the UW Extended Campus on behalf of the University Professional and Continuing Education Association (UPCEA) indicates a viable market for careers in financial technology. Employment rates are expected to grow 12 percent nationally over the next decade, while the Midwest will see an 11 percent increase.
What is Fintech?
If you've ever used PayPal or Venmo to send money, or if you manage your money through products like Mint or your bank's mobile banking app, you've followed financial technology – or fintech.
Fintech as a discipline applies computer systems and computer strategies to financial services. Some of the most active areas of fintech innovation include: cryptocurrency (Bitcoin, Ethereum and others) and related areas such as distributed ledgers (i.e. blockchain), digital tokens (i.e. NFTs), digital wallets and smart contracts; mobile banking; contactless payment systems (i.e. Google Pay, Apple Pay); cybersecurity; robotic process automation; robo-advisors; and automated algorithms for legal compliance.
The intersection of finance and technology in a digital-first mindset is being implemented by companies across the country to streamline processes within banking and private finance. For example, fintech solutions like your bank or credit union's mobile app can make time-consuming processes like mortgage applications easier. Robinhood has made stock investing more accessible, while chatbots and artificial intelligence can help consumers avoid bankruptcy quickly while companies can reduce the costs of customer service staff.
What do Fintech professionals do?
It's no secret that many Americans don't have sufficient emergency funds, opening the market for apps and other personal money management solutions to improve financial literacy, help consumers keep track of their bills and stick to a budget while they work to build savings. Many consumers have eagerly embraced fintech solutions, giving financial institutions the opportunity to innovate and offer new products. As these new services are launched, companies will need tech-savvy professionals with financial and business skills to better serve their customers.
And while fintech helps consumers save time, it can also protect them from fraud. One fintech company, Rain, helps hourly workers access cash from their wages after a shift so they can avoid overdrafts and loan schemes. According toForbes,Rain is offered through employers, and a provider looks at a consumer's banking history and uses that information to advance money based on the consumer's estimated future income. Advances are deducted from consumers' accounts when they receive their wages.
Financial services products like Rain are the result of visionary technology professionals, and as consumers continue to demand more bang for their buck as the economy tightens, careers in fintech are likely to take off. Companies with a long history of serving customers will need to continue to evolve to meet the needs of future generations. And they need people like you.
If you're interested in learning more about a career in fintech, consider some new certificate programs offered by the UW Extended Campus that are 100 percent online and completely flexible. They all give you the technical skills you need to advance your career in fintech, while giving you the opportunity to complete your studies at your own leisure.
The leading Fintech Transformations Graduate Certificateaims to build students' skills to develop and manage fintech strategies and solutions. The curriculum prepares students to compare and contrast different types of financial institutions and the technology-enabled processes required to operate them; analyze and assess organizations using recognized fiscal performance measures; develop and operationalize a strategic technology plan for fintech innovations; apply project management techniques to the ongoing digital transformation in financial organizations; and create digital tools to support financial analysis.
The Certificate for Emerging Technologies in Fintechfocuses on the most current fintech technology applications. The curriculum prepares students to apply computational systems and technologies to integrate financial processes and improve workflows; evaluating and managing the risks of digital transformation at financial institutions; use digital tools and techniques for analytical applications in financial organizations; leveraging artificial intelligence and machine learning in financial applications; and experiment with decentralized financial technologies and blockchain applications.
For more information or to contact an enrollment advisor,Click here.
Learn more about our 100% online degree and certificate programs.
