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Fintech in the UK is booming, reports suggest

If job postings are any reference to the state of fintech companies in the UK, I'd say business is booming.

Recruitment finance provider Sonovate has just released a report showing that both contract and permanent hires have gone up, significantly, in both quarter on quarter, and year on year.

IT positions have seen the highest volume of postings, up 35 per cent compared to a quarter before. An average day rate is £460, the company said. The highest growth metric went to consultancy positions, with a stunning 525 per cent growth quarter-on-quarter, and having an average day rate of £475.

Permanent roles listings have gone up 732 per cent year-on-year, and 57 per cent quarter-on-quarter, with an average yearly salary of £58,000. IT and consultancy keep the top two positions, with 61 per cent, and 157 per cent growth, respectively.

“2015 was a crucial year for UK fintech: while it’s been a cornerstone of our financial and technology markets for a while, we’ve seen clear increases in the industry’s overall investment, growth, and economic contribution,” said Richard Prime, co-CEO of Sonovate.

“These increases have translated to a surge in advertisements for contract roles,” he added. The market for this kind of interim, project-based work is in rude health, and the prospects of those seeking more long-term employment have also improved.”

“More jobs, more money, and more growth. The fintech employment market is experiencing a global boom at the moment – and the UK is at the forefront.”

Image source: Shutterstock/StockPhotoAstur

Sead Fadilpašić

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.