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Fintech firms drove a hefty increase in hiring in the financial sector last year, a new report from City recruiter Morgan McKinley shows.
Across the financial sector, the number of listed vacancies rose 13 per cent compared to the previous year despite continued inflationary pressures and lingering economic uncertainty.
Fintech hiring surged 29 per cent in the year, with particular strength in hiring for software engineering and product management roles.
Firms like Radius, Ebury Partners, and Monzo all ramped up hiring, growing vacancies by between 50-90 per cent over the year. More established players like Sage and Revolut still increased their headcount, but at a slower pace.
“The broader pattern suggests a maturing ecosystem: fintech firms are evolving from disruption to infrastructure, building out operational capacity across payments, credit, compliance, and SME services,” the recruiter said.
While fintech was the most dynamic part of the hiring market, banking still accounted for 61 per cent of all financial vacancies in 2025, the report noted.
New hiring in banking was concentrated in tech-facing roles like IT management and banking operations – which grew 42 per cent and 30 per cent respectively.
Commercial banks tighten belts
Commercial banking meanwhile declined 10 per cent in 2025, which Morgan McKinley said was a sign of “ongoing cost control in client-facing areas”.
London reinforced its position as the dominant financial hub in the UK, with a 17 per cent increase in vacancies during the year. This brought its share of national finance vacancies to 53 per cent.
Victoria Wallamsley, managing director at Morgan McKinley, said the jobs market had entered a more “selective and disciplined phase” after several years of disruption post-pandemic.
“While hiring is no longer volume-driven, organisations are investing with greater precision in roles that support productivity, transformation and long-term competitiveness,” she said.
“This shift reflects structural change rather than short-term volatility, with employers positioning now for the next growth cycle.”
