Employment in the Argentinian Fintech Sector Grew 9.9% in One Year

Companies that offer financial services leveraged on technology, known as fintech, employed 34,350 people in 2023, with a growth of 9.9% in the number of positions compared to the employment in the fintech sector in 2022.

In this framework, the most in-demand positions in the Technology area were Back End, Full Stack and Front End Developers, while in the Product area they were headed by Product Owner and Product Analyst.

The data arises from the Fintech Employment Survey 2023 survey published this Wednesday by the Argentine Fintech Chamber.The work also highlights that women’s employment improved by 3.2 percentage points compared to 2022.

“The detailed results of the survey shed light on the robustness of our industry. With a growth of 9.9% in the last year, employment in the Fintech industry reached a record number of 34,350 employees in Argentina. Since 2017, the jobs have grown at 40% compounded annually , which demonstrates the vitality of the sector and its ability to generate significant job opportunities in an economic environment of great complexity and constant change,” said the president of the Chamber Ignacio Plaza when presenting the report.

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Technology and employment: main conclusions

-The Argentine fintech sector employed 34,350 people in 2023 among its different verticals. Jobs grew 9.9% among the companies surveyed for the period 2023, compared to those registered in 2022.

-In the last seven years, the compound annual growth of employment in the industry has been 40.6%, going from just under 7,000 direct jobs to more than 34,000 at the end of last year.

-The participation of women improved by 3.2 percentage points compared to 2022. The balance showed that 45.2% of the positions were occupied by women and 54.8% by men.

-The participation of women in leadership roles reached 36.5% of positions , above the world average (33%) and regions such as the United States and Canada (32%) or Europe (30%).

-The geographical expansion shows a significant concentration in Buenos Aires and the Autonomous City of Buenos Aires, with almost 85% of the jobs.

-The most in-demand positions in the Technology Area are Back End, Full Stack and Front End Developers , while in the Product Area they are headed by the positions of Product Owner and Product Analyst.

Expanding fintech market

“The survey reveals another side of how the fintech industry is redefining the country’s financial landscape. In 2023, notable milestones were reached in terms of adoption and public trust: 61% of Argentines over 15 years of age had at least one account in a fintech and two out of every three money transfers included a CVU,” Plaza highlighted.

According to the latest official data from the entity, in Argentina there are 330 fintech companies, of which 240 are associated with the chamber, distributed in 9 verticals or subsectors: digital payments, virtual assets, business finance, loans and collective financing, technology for financial institutions , insurtech (insurance), financial assets and capital markets, personal finance management and disruptive financial entities.

“In the last seven years, fintech has not only been a driver of financial inclusion, but was fundamental for millions of people to be able to access new savings mechanisms, access to credit and adoption of digital assets for the first time. About “This last point, Argentina is in 15th place worldwide in intensity of use of crypto assets and leads Latin America in value transfers and use of platforms,” ​​he added.

The most in-demand jobs

According to the Fintech Chamber report, the distribution of employees by area highlights the relevance of IT and Customer Service in the fintech sector, representing 32.8% and 26.6%, respectively.

This is indicative of the importance of technology and customer service in the industry. Likewise, diversification in Marketing and Business Development suggests constant growth and adaptation to changing market dynamics, they explain.

The analysis of the work areas in which companies plan to hire more personnel indicates a solid presence in IT (23.2%) and Customer Service (19.9%). Searches in Marketing (14.4%) and Business Development (11.6%) show the companies’ focus on forward growth.

As in 2022, the most sought-after positions for the Technology (IT) area are Back End and Full Stack developers, which are in demand by 72.5% and 67.5% of companies, respectively. who seek to add roles in that area.

This last year, the growth in demand for Front End developers (52.5%, about 8.5 percentage points higher than last year’s demand) and Other positions (30%, almost double that of 2022) stood out. ). This occurs at the same time that interest in adding developers of specific programming languages, such as Python, Java Script and Node JS, decreased.

The gender gap in employment was reduced

The survey also reflected an improvement in the labor gender gap compared to last year (58% men and 42% women in 2022 vs. 54.8% men and 45.2% women in 2023) and is approaching parity, if Although there are still challenges in female representation in strategic and leadership positions.

The data reveal that 63.5% of leaders are men and that 36.5% are female leaders. The information is in line with a recent study by the World Economic Forum and the University of Cambridge, which indicated that in Latin American fintechs, the representation of women in executive positions is 36%, above the world average (33%). and from regions such as the United States and Canada (32%) or Europe (30%).

The challenge persists at the C-Level , where only 25.9% of positions are held by women, the report clarified.

From a geographical point of view, the demand for fintech employment showed a significant concentration in the province of Buenos Aires and the Autonomous City of Buenos Aires, with almost 85% of the jobs.

However, the presence of workers in ventures or providing services remotely extends to the different provinces of the territory, with a focus on provinces such as Córdoba (4.9%), Santa Fe (4.2%) and Mendoza (1. 2%).

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(Featured image by Mampu via Pixabay)

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