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Lack of industry knowledge holding UK graduates back from Fintech careers

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Fintech offers lucrative career options for new graduates

New graduates say that a lack of industry knowledge and pressure to pursue traditional career paths prevent them from beginning more lucrative careers in industries such as fintech. Over 75% of students haven’t considered a career in fintech even though the average fintech salary is 57% higher than the average UK salary. This is according to a new survey by Quotezone.co.uk.

The survey results suggest a need to change perceptions and provide students with valuable knowledge and experience in this sector.

According to the poll, 36% of UK students said that the biggest factor stopping graduates from pursuing a career in fintech was a lack of knowledge about the sector.

Other factors preventing students from working in fintech were the pressure to pursue a more traditional career path (26%) and a lack of experience (9%).

Only around one-quarter of the students surveyed had a job lined up at graduation. A further 25% said they were unsure what career they wanted to pursue.

Quotezone.co.uk are looking to address this lack of knowledge of the fintech sector by encouraging students to explore what fintech could provide through the Quotezone fintech scholarship.

In offering work experience opportunities, the business hopes to encourage more students to consider a career in the sector.

With more than 50% of students sharing that finances are their biggest pressure, the salary potential within the fintech sector should be an attractive proposition.

To apply for the scholarship, students are asked to enter a short blog or vlog post on how they, the next generation, see the industry’s future.

The successful candidates will receive a £1,000 bursary which can cover part of their studies, course materials, or any other living expenses. The scholarship also allows them to gain industry-related work experience at Quotezone.co.uk.

Last year’s winners were Kelsey Hunt, a second-year student at St Andrew’s University, and Ella Henry, an MPhil student studying Biological Sciences at the University of Cambridge.

The deadline to apply for the Fintech Scholarship is 30th March 2023T. There will be one winner from Great Britain and one winner from Northern Ireland through Quotezone’s sister company, CompareNI.com.

 Greg Wilson, Founder and CEO of Quotezone.co.uk, said: “The UK is a global leader in fintech which contributes billions to our economy and has the potential to create thousands more jobs in the coming years.

 “Despite this, there is a large talent shortage and a lack of awareness around the sector, as reflected in our survey results.

 “The fintech sector in the UK offers great prospects for graduates from all industry backgrounds, with attractive starting salaries and strong long-term career prospects.

 “Not only do we want to demonstrate the potential of a career in fintech, but we also want to provide the winning student with real, hands-on career experience to help discover what it would be like to work in such a flourishing sector.

 “We need bright young talent from across the curriculum in England, Scotland and Wales to fill these roles and create teams with diverse skill sets – creating pivotal change and driving innovation within the sector.

 “I would strongly encourage students from right across Great Britain to explore fintech and apply for this opportunity.”

 

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