An analysis of job openings in the fintech industry reveals which German locations are home to fast-growing financial startups. The banking metropolis of Frankfurt am Main only manages to reach fourth place.
The fintech portal Finanz-Szene.de analyzed job postings from what it considers to be the 100 largest and most well-known German financial startups. The study authors found 1,695 vacancies on the websites of the startups examined. The publication states:
“The fintech industry is gradually becoming a noticeable factor in the German labor market.”
“Munich is the secret fintech darling”
Of these 1,695 vacancies, 784 are in Berlin, 248 in Munich, 106 in Hamburg, 87 in Frankfurt, and 43 in Düsseldorf. Although Frankfurt certainly remains an important location for the traditional financial sector—especially after Brexit—fintech startups apparently prefer other locations. Similar city rankings have also been achieved in recent years. Comdirect investigationsThe authors express surprise that Munich ranks second behind the expected frontrunner Berlin, far ahead of Hamburg and Frankfurt. This despite the study being limited to startups founded after 2010:
"As a result, 'original fintechs' based in or near Munich, such as Check24, Wirecard, or Interhyp, were not even included in the ranking."
The authors conclude:
“Munich is the secret fintech darling”
Fintech industry is particularly looking for technical employees
A look at the advertised positions reveals the sector in which the startups examined operate: They are primarily seeking not bank clerks, but rather technology experts. The three technical professional fields of IT & Engineering (435), Product & Design (195), and Data & Business Intelligence (73) together account for more than 40 percent of all job advertisements. Experts from the banking, insurance, investment, and payment sectors were sought 152 times. Roughly half of the offers relate to B2B and B2C positions.
Further figures can be found in the Investigation resultsThe publication is worth reading just because of an interview by Heinz-Roger Dohms, who is behind Finanz-Szene.de, with Raisin co-founder Frank Freund.
