Recruiting in the french fintech space
'Upcoming' and 'on the rise' are the type of phrases we regularly read about the fintech space, an industry where startups have reinvented finance through technology.
In recent years, the term fintech has become somewhat of trend as well as an appealing sector many want to be apart of, many companies (however related to the field) characterize themselves as fintech to keep up with the ‘boom’ in the field. However, we quickly notice the diversity of players: payments, crowdfunding, Blockchain and cryptocurrency - all varied and different.
But what about the recruitment side?
The fintech industry has vastly expanded following the numerous fundraising over the recent months, which in turn means the job market has also increased. By simply typing 'fintech' on Indeed.fr we find today more than 1,200 job offers in France alone!
Fintech companies have been growing for several years now and now more than ever, they are looking to strengthen their teams. However, the majority of them regularly face difficulties in identifying, attracting and recruiting new talent. Many candidates coming from various other sectors within the industry entrust in me with their difficulties to fit into this market, despite their interest and motivation. While talent evolves inside the ecosystem, it can be more difficult to enter the market from an outside perspective. Indeed, despite the very strong expansion of the sector, the French fintech remain a 'small' community where many know each other (very) well.
The 'hidden job market', which is very present in this sector, can explain this idea. Indeed, a significant part of hiring is done today indirectly - sometimes without any of the job specifications published online.
Networking, headhunting, dedicated industry events are the channels that are widely used and make up the 'invisible' part. New formations and schools appear, such as 'Wake Up' for example, who developed a fintech course to help its participants 'calmly integrate the world of fintech'.
What are the profiles sought by fintech companies?
The diversity of candidates makes it difficult to generalise recruitment and its needs vary from one organisation to another. However, if you read particular articles, you can imagine that the fintech industry dreams of talents and executives from the banking industry. Certainly, there are bridges that exist between the two - for example for certain skills - but the profiles sought are indeed very different.
Sales Manager, Product Owner, Growth Hacker, Data Analyst, Web Developer, Implementation Manager or Compliance & Fraud Manager are examples of positions that we find today regularly within the French fintech.
Being either a new Startup or an old Startup - with a deep tech identity, fintech look for talent with this same mindset. Being curious and endowed with a bit of entrepreneurial spirit will surely be the fundamentals of the ideal profile in the fintech space. It is also important to add the ability to be innovative and adaptable to international environments - not to mention the agility of course!
In general, profiles with a real Web and Tech culture and coming from IT environments, Software, e-commerce, mobile, or the payment industry for example are often privileged.