Sonovate Pointed to Softer Growth of Demand for Contract & Permanent Hires in UK FinTech Sphere

Sonovate Pointed to Softer Growth of Demand for Contract & Permanent Hires in UK FinTech Sphere
12.05.2016 12:00 pm

Sonovate Pointed to Softer Growth of Demand for Contract & Permanent Hires in UK FinTech Sphere

FinTech StartUps , IT Innovations , People Moves

Demand for contract and permanent hires is increasing rapidly among UK fintech companies, according to new research from recruitment finance provider, Sonovate.

Job advertisements for contract roles increased by 64 percent quarter-on-quarter (QoQ) and individual roles have become highly sought after. Roles are being advertised at an average day rate of £430.

The highest volume of postings were for IT positions, which saw a 35 percent QoQ rise and were advertised with an average day rate of £460. Consultancy positions recorded 525 percent QoQ growth, with an average day rate of £475. 

Richard Prime, co-CEO of Sonovate, said: “2015 was a crucial year for UK fintech: while it’s been a cornerstone of our financial and technology markets for a while, we’ve seen clear increases in the industry’s overall investment, growth, and economic contribution.”

He added: “These increases have translated to a surge in advertisements for contract roles. The market for this kind of interim, project-based work is in rude health, and the prospects of those seeking more long-term employment have also improved.”

The research also indicates a 732 percent YoY rise in listings for permanent roles, a 57 percent QoQ rise, at an average salary of £58,000. As with contract positions, IT and consultancy are the top two positions advertised in terms of overall postings, and have seen growth of 61 percent and 157 percent respectively.

“More jobs, more money, and more growth”, Prime commented. “The fintech employment market is experiencing a global boom at the moment – and the UK is at the forefront.”

For full access to the results, which were compiled in conjunction with Innovantage, and for more information on the wider European fintech market, please visit: sonovate.com/market-insights

Related News

Intesa SanPaolo Buys Stake in Mobile Cash Startup MatiPay

Intesa Sanapolo has invested EUR7 million in MatiPay, which has developed a mobile payment system for purchasing services and products online with cash, using the physical... Read more »

Hyper announces mixed reality-based spatial design platform

HYPER, the London-based startup born from the EIT Digital-supported “HyperCRC” innovation activity, has launched a spatial design platform that fuses virtual reality with real... Read more »

Colt's Enhanced uCPE Proposition Brings Enterprises Closer To the Edge

Colt Technology Services has announced its enhanced universal customer premises equipment (uCPE) solution, which brings the benefits of Network Function Virtualisation (NFV) to... Read more »

Financial Industry Must Work Together To Fight Fraud

More than 60 delegates from the UK’s leading banks and other financial organisations have been told that the whole sector can work more closely together in order to stay one... Read more »

'Fintech-as-a-service' Platform Rapyd Raises $100m

Rapyd, a fintech-as-a-service' platform that enables businesses and consumers to pay or be paid however they choose for local and cross-border e-commerce transactions, has... Read more »

Blockchain Data Privacy Startup StrongSalt has Raised $3 Million in a Seed Financing Round

StrongSalt, a California-based startup, has raised $3 million in a seed financing round from Valley Capital Partners, the company announced on Thursday.

With the freshly... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel