Fintech
Fintechs will hire double the number of UK employees in 2024 as Revolut’s hiring slows
2024 is seeing fintech return to hiring after an often terrible 2023. Some companies, however, are hiring much more than most.
Click here to subscribe to our fintech newsletter 🤖
A new report on hiring trends from recruiting firm Morgan McKinley broke down some of them major fintechs, which predicts the biggest increase in vacancies in the UK this year. At six fintech companies, hiring is believed to increase by at least 100%.
The biggest increase in hiring is expected internallyoffice lover fintech payments Checkout.com. The company is expected to nearly quadruple its number of vacancies year over year, reaching unprecedented levels in 2022. Hirings so far this year include Michael Bodanskyformer director of Revolut, and Paul Jaines, former head of product at blockchain company R3.
Some are doubtful that taking cryptocurrencies will thrive again in the UK, but digital asset exchange Kraken may be the exception. Morgan McKinley thinks it will triple its vacancies this year. So far, however, not many senior names have joined, most notably global head of performance Imane Benhima, a former executive at cryptocurrency Firmly Support.
Two of the six fintechs, Ebury and Funding Circle, are in diametrically opposed positions; one is on the verge of an IPO, the other has been publicly traded for quite some time. Funding Circle shares fell to record lows in March, but have since rallied and more than tripled in price as hiring has surged to match it. However, Ebury has the highest number of vacancies of the two, with 276.
However, not all fintechs should be hiring more than before. Two of the UK’s largest fintechs – Wise AND Revolutionare expected to reduce vacancies this year, although Revolut recently said it wanted to reach global headcount of 11.5 thousand by 2025. Revolut, however, is entering a new office with 40% more surface area next year, so vacancies could increase soon after. Both Revolut and Wise have seen a downward trend over the past two years, while Storno Bank has trended upward twice and is expected to have more vacancies than both fintechs combined.
Do you have a confidential story, tip or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @AlexMcMurray. Or email editortips@efinancialcareers.com. Signal also available.
Please bear with us if you leave a comment at the bottom of this article: all our comments are moderated by humans. Sometimes these humans may be sleeping or away from their desks, so it may take a while for your comment to appear. Eventually it will, unless it is offensive or defamatory (in which case it won’t).