FinTech Futures Jobs: UK fintech jobs surge 44% as London leads hiring boom

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Professional vacancies in the “UK finance labour market” saw a significant upswing in 2024, according to a new report ‘Year in Review 2024’ from Morgan McKinley and Vacancysoft.

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More specifically, the report shows how it is London that accounts for much of this growth with a 7% rise in finance vacancies, compared to the UK’s overall 4% decline.

Significant decreases were seen in North West England (-25.9%), Scotland (-20.6%), South East England (-10.1%), Yorkshire and the Humber (-6.2%), West Midlands (-11.4%), East Midlands (-4.7%), and Wales (-16%). So if your job search has been slow in these locations, don’t take it to heart.

5 jobs to look at this week

Alongside Greater London (+7.1%), other areas with increases in job vacancies include South West England (+11.1%), Northern Ireland (+15.6%), East of England (+4.8%), and North East England (+5.9%).

Looking at three core sectors, the report shows that banking saw an 11.5% decrease, an improvement on 2023’s 38.2% decrease, while job vacancies in fintech and accountancy grew.

Fintech is faring best. In fact, ‘Year in Review 2024’ outlines how the fintech sector saw a 44% year-on-year increase in vacancies, driven by both VC investment and AI.

Not only has the adoption of AI and automation created roles, but so too has the emergence of new companies.

Accountancy vacancies also grew in 2024 (25%), a serious improvement on 2023’s 47.2% decrease.

Areas and companies growing

Overall, sales and business development positions made up the biggest share (10%) of the 1,277 available positions posted last year, a 54% increase from the previous year.

In terms of companies, Wise Payments led the way when it comes to increases, with a 225% rise in open positions, equating to 335 positions.

Meanwhile, Ebury Partners reported a 148% increase (to 286 positions), demonstrating its success in scaling operations, and taking advantage of international payments opportunities.

In fintech, Starling Bank posted the most vacancies in 2024 with 463, followed by Radius with 441, FIS with 436, Wise with 335, and in fifth, Ebury.

With a 29% increase in vacancies, the accounting industry saw a robust recovery in 2024, accounting for 54% of all positions and achieving its greatest demand in five years.

Increased funding for green services and stronger AI integration were the main drivers of this comeback, opening up new career paths for professionals, especially in tax roles.

Demand for tax experts surged, with vacancies hitting their highest levels in five years due to changing regulations and government policies that opened doors for accountants and consultants with tax expertise.

Hiring trends of the ‘Big Four’ accounting firms can be a good indicator of the broader industry’s health, and in 2024, PwC reported a 30% increase year-on-year in vacancies, surpassing 1,000 roles. This is self-reported as driven by its growth into sustainable practices, and enhanced usage of smart technologies.

However, the largest growth was seen by regional companies Francis Clark and Azets, where vacancies increased by 76% and 59%, respectively.

On a downswing

Owing to ongoing restructuring and regulatory challenges, banking vacancies contracted across most organisations and departments.

However, within the traditional banking sector, certain areas did show single-figure growth. Banking operations grew 6% and IT development rose 2%, signalling a focus on streamlining operations and using technologies to drive efficiencies.

The report remains optimistic: “Despite the contraction, initiatives like proposed regulatory reforms allowing investment banks to access retail capital could stimulate activity and unlock new growth opportunities in the years ahead.”

Recommendations

Considering the weighting of job vacancies available in London compared to the rest of the UK, the report says this disparity shows the need to decentralise opportunities and foster development outside the capital.

Victoria Walmsley, managing director of Morgan McKinley UK, is looking at 2025. “Challenges such as skills shortages, regulatory changes, and evolving workforce expectations remain, yet they also present opportunities for growth and innovation.”

“With continued investment in emerging technologies and green energy, alongside strategic government initiatives to attract talent, the UK is positioned for further transformation.”

“It is essential that businesses remain adaptable and collaborative, ensuring that we can navigate the evolving job market and continue to foster economic resilience and growth in the years ahead.”

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