Finance: Jobs, Salary + Professional Advice
As long as the currency is traded, the financial sector will continue to prosper, but the introduction of advanced emerging technologies has opened up unprecedented frontiers for financial growth. The Bureau of Labor Statistics predicts that employment opportunities in the financial sector will increase at a rate of 30 percent through 2024, and financial research organization Opimas has found that approximately 35 percent of these new vacancies are aimed at technology professionals and data scientists.
The exponential growth in technology-related financial positions can be attributed to the growth of global capital as a whole. Innovations in fintech have leveled the international economic game, allowing the United States to compete with countries like China and Korea in the same markets. It has been estimated that there is over three million e-commerce companies headquartered across the globe, but that number isn’t beginning to represent the myriad ways businesses, organizations, and individuals exchange money digitally. As more and more players in the global economy move online, financial institutions need to be able to manage and transfer huge amounts of money both online and in person.
Notable FinTech Companies
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In an effort to adapt to the modern age, banks and other legacy financial institutions are increasingly turning to innovations from tech startups to meet the needs of the digital age. KPMG reported that since 2015, financial organizations like banks and treasuries have invested more than $ 27 billion in fintech startups, hoping to make further progress in the digital world and increase their engagement. Technology professionals, especially those skilled in computer programming and data science, enjoy desirable status among recruiters in the financial world. It has become second nature for banks to turn to automated technology to help process large data sets, and financial leaders are constantly on the lookout for new ways to use AI and business intelligence. machine learning to maintain security and predict market changes.
The Best Finance Jobs Hire Now
These companies have many open finance jobs available at this time.
On the other hand, big tech companies have also created their own infrastructures to compete with banks and insurance companies for the financial crown. The financial forays that technology leaders have made in recent years are so remarkable that they have come to be called technology. In techfin, as opposed to fintech, technology leads the way and finance follows.
Many mobile technology companies have developed technologies that give users the ability to make purchases and store card information on their mobile devices, but companies like Google and Apple went further by introducing their own payment systems and credit card options independent of traditional banking institutions. The introduction of Bitcoin in 2009 solidified the place of technology in the financial world, and continued innovations in cryptocurrency, e-commerce and alternative finance will ensure that technology will always have a place in our wallets. .
According to Investopedia, the average salary for financial advisers hovers around $ 87,850, but in many cities like Chicago, Boston and Seattle the average salary climbs above the $ 110,000 range. An important factor in determining the average salary of a finance professional is demand – for example, in a city as busy and competitive as new York, a financial analyst or advisor can enjoy a salary of around $ 120,000, which is well above the overall national salary average of $ 74,000.