4 Career Prospects in today's FinTech Landscape
Financial Technology, known as “FinTech”, refers to an industry based on the application of digital technologies to the provision of financial services. The recent emergence of FinTech has caused major changes in retail banking, mobile commerce, lending and currency trading.
According to a recent FinTech census, the Australian sector is growing at an exponential rate. FinTech adoption in Australia has nearly quadrupled from 16 per cent in 2015 to almost 60 per cent in just four years. Despite common challenges such as competing against incumbents, there is undoubtedly promising growth in the Australian market where over 50 per cent of the Australian FinTechs are looking to scale overseas in 2020 into the United Kingdom, the United States of America and New Zealand.
With the influx of Australian FinTech startups and those abroad, this calls for a surge of career prospects and opportunities, ranging from an entry level position of 50K up to 300K for C-Suite Level, with a median of 100K salary based on industry experience*. Here are four job titles† that you can find within the FinTech landscape:
1. Investment Analyst
An investment Analyst collects information, perform research and analyse assets, such as stocks, bonds, currencies and commodities. In addition, they gather and interpret data, such as company financial statements, price developments, currency adjustments and more. According to the source, an investment analyst typically earn a salary range from $54K to $108K*, depending on the years of industry experience.
2. Finance Manager
A Finance Manager monitors day-to-day financial operations within the company, distributes the financial resources and is responsible for the budget planning and supports the Executive Management Team by offering insights and financial advice to make the best business decisions for the company. The role attracts a salary range from $58K to $126K, depending on the years of industry experience.
3. Technical Consultant
For a Technical Consultant, or commonly known as IT Support, he or she will work with an organisation to improve their use of technology and achieve business goals. They are experts in the technical fields such as Computer Science and are hired by organisations to provide advice, solve problems within the organisation and drive efficiency across all departments. Typically, the salary range of a technical consultant starts from $49K to $95K*, depending on the level of experience.
4. Senior Financial Officer
A Senior Financial Officer has key responsibilities that includes maintaining financial control of the day-to-day operations within Financial Services, improving processes internally, staff training, ad hoc reporting and records management. In addition, analysing the company's financial strengths and weaknesses and proposing corrective actions. At a glance, a typical salary of a Senior Financial Officer ranges from $56K to $202K* depending on the level of experience.
*Source: 2019 TSL Community in the News Sydney Area (AUD)
† Disclaimer: While we make every effort to ensure that we accurately represent all figures and potential income, it should be noted that the salary figures are estimates of what we think you can possibly earn. There is no guarantee that you will make these levels of income and you accept the risk that the salary differs for each individual.
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