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Hi, fintech fam! 💜

Thank you to everyone who attended the Sip & Shop event last night!

Spending time with our community always refreshes me and reignites my passion.

And if I didn't get to see you yesterday, I hope to see you tomorrow afternoon during a Linkedin LIVE with Lisa Carmen Wang, a serial entrepreneur, investor, keynote speaker, executive coach, and author with expertise in coaching hundreds of women on cultivating unapologetic worth and wealth.

Save the date for our conversation on Wednesday at 12 pm ET.

You can RSVP here.

But first, let's delve into some practical tips for securing a job in fintech.

CAREER

Fintech Companies Are Still Hiring: How Workers Can Land A Fintech Job

We have heard a lot about the mass job cuts in tech companies in the U.S. this year, with over 240,000 workers laid off, over 50% higher than the total number of layoffs in 2022.

Even Spotify has announced that it will be cutting 17% of its workforce.

As the founder of Fintech Is Femme, I understand the risks layoffs pose to the most vulnerable among us. However, we should not be distracted by the doomsday scenario and miss the incredible opportunities to help those same communities.

Despite the doom and gloom, fintech companies are still hiring.

The challenge for finance professionals, tech workers, or fintech enthusiasts looking to enter the fintech job market is the misconception that landing a job in an industry combining finance and technology requires skill sets from the broader tech space.

While this may be true sometimes, the fintech industry differs significantly from big tech.

For one, fintech companies have a start-up culture, so hiring managers look for people with more interpersonal skills than traditional tech companies.

Yes, you heard that right: interpersonal skills are the new black.

Hiring managers are always looking for individuals with grit and the ability to pivot quickly in a fluid environment.

Every day is different at a fintech company, and showcasing your willingness to roll up your sleeves goes a long way.

Workers from large tech companies may need to adapt their mindset to this new environment while remaining open to emerging fintech sectors.

Who Is Hiring

The fintech industry boomed during the early days of the pandemic, raising record funding driven by low interest rates and consumer appetite for digital financial services. 

Today, fintech companies are maturing and streamlining more rapidly than planned (what a lovely way to put it), and job cuts are a quick way to do so.

Still, the opportunity for candidates is fruitful. For example, ZipRecruiter found that 79% of laid-off tech workers discovered a new job within three months. 

Companies are hiring talent in both consumer and business-to-business fintech.

To be sure, I checked the industry via Twitter by asking who was hiring.

Companies on the consumer side like Chime and Cleo and B2B fintech companies like Gusto, Anonybit, Ntropy, and ColumnTax, among many others, shared with me that they are actively recruiting.

The Mindset Gap

People continue to hold onto the outdated mindset of believing only those with a technical background can work in fintech. In reality, many fintech companies hire across various roles, from sales and marketing to content strategy.

While presenting technical skills has historically been an easy way to get into fintech, the current environment has increased the need for interpersonal skills.

Sure, you have the tech skills, but can you converse without mumbling?

Fintech companies are looking for more than just keyboard jockeys; they want a growth mentality, strong communication, active listening, and reliability – the stuff you can't find in a programming manual.

With 75% of employers needing help finding talent with these skills, having interpersonal skills can often be more beneficial when finding a job in fintech, as they are more challenging to acquire or teach.

Also, these skills traditionally attributed to women are now 80% more likely to be in the top five skills for the roles that the fintech industry is looking for.

For example, say you applied for a job in human resources but have yet to gain experience with data analysis tools. The employer may be more inclined to hire you if you can demonstrate effective communication, empathy, and openness.

While you don't need to be a coder or engineer to work in fintech, those with non-technical backgrounds must also remain open to working with financial data and data sets.

If they do, their chances of landing a job increase.

Advice For Job Seekers

Tap into Personal Connections and Community Networks: Leverage your existing relationships and community networks to establish meaningful connections in the fintech sphere.

Seek support from like-minded groups that provide a platform for bridging skill gaps through mentorship and community engagement.

Identify Fintech Companies Aligning with Your Goals: Carefully research and select fintech companies that resonate with your professional aspirations.

Once you've identified potential employers, it's time to move on to the application phase.

Apply Directly Through the Company Website: The most effective way to initiate the application process is by applying directly through the official website of the fintech company.

This shows that you are genuinely interested in and committed to the organization.

Personalize Your Application: Resist the urge to succumb to the copy-and-paste approach when crafting your resume and cover letter.

Tailor each application to the specific requirements and culture of the company you're applying to. Highlight how your unique skills and experiences align with their needs.

Emphasize Your Value Proposition: In an era where hiring is more deliberate and selective, showcase the value you bring to a team or company.

Emphasize your differentiated experience, skills, and perspective that set you apart from the competition.

Demonstrate a Fintech Mindset: Understand that fintech companies thrive on a startup culture, valuing a personable approach.

Illustrate your understanding of the company's story and articulate a passion for advancing the financial services industry.

Your application should convey a fintech mentality that embraces challenges, continuous learning, and a pursuit of growth in a rapidly evolving landscape.

Ultimately, securing a position in the fintech industry demands more than a job application or a background in Wall Street or Silicon Valley. 

You can position yourself as a standout candidate by strategically networking, selecting the right companies, and personalizing your approach. 

Embrace the startup culture inherent in fintech, and let your application reflect your skills and dedication to contributing to the industry's transformative journey.

P.S. Save this quick guide or forward it to a friend looking for their next career move. 

_{WTF ELSE?}

• Yieldstreet to acquire real estate investment platform Cadre

• Goldman Sachs-backed ZestMoney, once valued at $450M, to shut down

• Prominent work-from-home CEO has just acknowledged a significant flaw in the remote office model

• Three fintech shifts to prepare for in 2024

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_{I WANT IT, I GOT IT}

• 📚 Today’s Read: “How Do I Draw Boundaries at My Job?"

• 👀 Today’s Watch: Check out the cast of A Strange Loop’s Tiny Desk Concert. Every single singer is mesmerizing. 

• 🍣 Today’s Eats: I had the coziest time at Macao in Tribeca. The noodles are a must-have. So are the dumplings. 

_FINTUNES

🎵 Beyonce - MY HOUSE

I am obsessed with this incredible burst of pure energy! It's like we're all living in the Queen's house, soaking up her amazing vibes. The rapping, the throwback Beyoncé vocals, everything about it is just so on point. And let's not forget about the powerful message, the inspiration it brings, and the sense of freedom it ignites. Seriously, she is truly THAT girl!

That’s all for now! Stay safe, everyone. Hug your loved ones. See you Thursday!

Love,

Nicole