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The fintechs hiring twice as many UK employees in 2024 as Revolut hiring slows

2024 is seeing fintech hiring return after an oftentimes dreadful 2023. Some firms, however, are hiring much more than most.

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A new hiring trends report from recruitment firm Morgan McKinley has analyzed a number of major fintechs, projecting which will see the largest increase in UK vacancies this year. At six fintech firms, it thinks hiring will be up at least 100%.

The biggest hiring increase is expected at the in-office-loving payments fintech Checkout.com. The firm is projected to nearly quadruple its number of vacancies year-on-year, reaching levels not even seen in 2022. Hires so far this year include Michael Bodansky, a former director at Revolut, and Paul Jaines, a product lead formerly of blockchain firm R3.

Some are doubtful that crypto hiring will boom again in the UK, but digital asset exchange Kraken might be the exception. Morgan McKinley thinks it will triple its vacancies this year. Not too many senior names have joined so far, however, the standout being global head of performance Imane Benhima, a former executive at crypto firm Uphold.

Two of the six fintechs, Ebury and Funding Circle, are in diametrically opposite positions; one is on the verge of an IPO, the other has been publicly traded for quite some time. Funding Circle's stock fell to an all-time low in March but has since rallied and more than tripled in price as hiring rises to match it. It's Ebury that has the most vacancies of the two, however, with 276.

Not all fintechs are expected to hire more than before, though. Two of the largest fintechs in the UK - Wise and Revolut, are expected to cut vacancies this year, even though Revolut said recently that it wanted to reach a global headcount of 11.5k by 2025. Revolut is, however, moving into a new office with 40% more floor space next year, so vacancies could rise soon after. Both Revolut and Wise have trended downward for the past two years, while Starling Bank has trended upwards twice and is expected to have more vacancies than both fintechs combined.

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AUTHORAlex McMurray Reporter

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