An Increasing Number of MBAs Want to Work in the Fintech Space

An increasing number of MBAs want to work in the fintech space. The desire for many MBAs to move into the financial technology (fintech) is far greater than what one would initially expect for a rather traditional field closer to business and human resources than technology. Let’s look at the reasons why MBAs want to work in the fintech space instead of traditional roles with investment firms, banks, and big corporations.

Demand

Upwork recently found that Blockchain was the second fastest growing skill set on the site in the second quarter of 2017. This is because Blockchain is finding real-world applications from asset management to recordkeeping to ownership verification.

Right now, relatively few people have this knowledge, but those who do are in high demand because of the growing broad adoption of the technology. And they’re being paid well for their expertise, especially if it is in addition to an understanding of business IT or project management skills.

Upside Potential

Startups are famous for offering stock options or stock in lieu of a good paycheck, but if the company becomes the next Uber or is simply bought by a big existing corporation, you have the potential to be rich. These opportunities have long been available to high tech talent in Silicon Valley, but financial technology startups give you that possibility with an MBA.

Another benefit of fintech is that technology experts understand that they need those who are familiar with the finance industry and are willing to hire MBAs to explain the business side while their products are in development. Now you have the possibility of being an equal on the team due to your business and financial expertise, as well as having the ability to rise up quickly as the company grows. That the industry accepts those with an online MBA degree as readily as those who graduated from a brick and mortar school is only a plus. Not to mention that more online business administration programs are adding fintech as part of their curriculum.

Another benefit of going into fintech is that you gain the expertise in technology that will be widely adopted. If you learn this skill in a startup or high-tech company, you can move back to a traditional financial institution with valuable skills and be fast-tracked to management to lead the coolest projects in the company.

Prestige

Bitcoin is constantly making headlines for new record highs and everybody wants in. This has made working in fintech, especially with Bitcoin, a plus when it comes to your reputation. Many MBAs want to work in financial technology that has the high-tech cachet instead of the boring realm of investment banking that many still see as having questionable morality.

Conclusion

Whether you’re in a fintech startup or the technology implementation division of a big financial firm, the attraction for MBAs is being well placed to ride the wave of the future and be well paid while doing so.