Fintech Industry In The UK Booms With New Job Opportunities
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There was a 44% jump in job openings in the UK fintech industry in 2024, helped by venture capital money and AI, according to a study by Morgan McKinley.
Fintech vacancies reached 12,519 last year, up from 8,672 in 2023, per the report, which was done by Morgan McKinley with market data experts Vacancysoft.
More Venture Capital, AI, And Automation Boosted Fintech Jobs
The increase was due to more venture capital investment, lots of people using AI and automation, and the sector’s splitting up, which led to the launch of new companies. Fintech has turned into a popular place for workers, especially in business roles.
Wise had a 225% rise in job openings, reaching 335 roles, and Ebury Partners showed a 148% jump to 286 roles. Business development and sales roles were the biggest, making up 1,277 openings — a 54% rise from last year and 10% of all jobs.
Unlike fintech, banking job openings fell 11% in 2024 to 37,901, showing ongoing reshuffling and rule problems.
Risk and compliance jobs, which usually made up most of the hiring, dropped a lot — by 20% — because there was less rule-checking. But operations and IT development did better, rising by six per cent and two per cent.
Top banks like NatWest and Barclays had big drops in job openings, with cuts of 51% and 45%, showing the ongoing changes in the whole industry. Lloyds Banking Group had a smaller drop of 19%.
The accountancy sector bounced back strong in 2024, with a 29% increase in openings, reaching its highest need in five years, making up 54% of all jobs.
London Saw A 7% Rise In Finance Job Openings
More companies looked for tax experts, with job openings at their highest in five years. This happened because of new government rules and changes, which opened up doors for accountants and advisers who have knowledge in tax. PwC showed a 30% rise in job openings, going over 1,000 roles, because of its growth into green practices and using smart technologies more. Local firms like Francis Clark and Azets had the biggest growth, with openings going up 76% and 59%, in that order.
While London had a 7% rise in finance job openings, the rest of the UK saw a 4% drop. This gap shows there’s a need for plans to spread out job chances and help places outside London grow. This will make job market fairer across the UK.
Victoria Walmsley, Managing Director at Morgan McKinley UK, said the UK labour market in 2024 showed amazing strength, even with global worries and money problems.
