Remember when working for a huge bank or financial institution was the gold standard career move? Big brand, steady progression, incredible for your CV, it was a no brainer. But fast forward to 2025 and the scene’s shifted. Enter the challengers: nimble fintechs and scale-ups that may not have heavyweight logos yet, but they’re dangling some seriously juicy carrots for tech pros.
So, who actually has the upper hand in the race for talent in the UK’s financial services sector?
Fintechs: The Exciting New Kids on the Block
Here’s where it gets interesting: fintechs are doubling down on hiring. The sector is forecast to grow professional job numbers by 32% in 2025, spurred by demand for compliance, fraud, and cybersecurity experts, with total projected vacancies hitting around 16,575 across the UK, according to Morgan McKinley.
Tech roles aren’t being left behind, either. Driven by engineering, IT, and information security needs, fintech tech hiring is expected to climb by nearly 39%, with London still stealing the limelight, according to Finance Magnates. Meanwhile, Vacancysoft found fintech vacancies surged a whopping 44% year-on-year, while banking actually saw an 11% drop in job openings.
Salary-wise? Fintechs are paying up. Clearbank, for example, boosted average total compensation to £92.9k in 2023 — up from £86.7k the year before.
All told, challengers are showing they can compete with the giants, both in pay and in opportunities to shine.
Giants: Still the Safe Bet (for Now)
Traditional FS giants: banks, insurance organisations, and global financial institutions aren’t being overtaken. They still represent stability, massive budgets, and big-scale projects that can make any CV shimmer.
Banks also have one big advantage: consistency. Unlike many challengers, they’re not walking a tightrope of go-to-market strategies or funding rounds. The projects are often “meatier,” the hierarchy more defined, and the career ladders more structured. That sense of stability can be reassuring in these twitchy economic times, even if it comes with a side of corporate red tape.
Plus, while fintech dominates headlines, the wider services sector (including FS) has been showing signs of strain. In July 2025, the UK’s services industry saw its sharpest drop in new orders in nearly three years, alongside a spike in job cuts, according to Reuters. That kind of volatility puts a premium on the safety that reputation giants still hold.
What Makes People Tick in 2025?
Today’s tech professionals in the UK are increasingly looking beyond brand recognition and salary alone. They want roles that offer meaningful work, flexibility, and the ability to make a tangible impact.
Flexible working arrangements have become a decisive factor in career decisions, with many candidates expecting hybrid or remote options as standard. Employers that demonstrate trust, autonomy, and a focus on outcomes rather than ‘presenteeism’ are more likely to attract and retain top talent.
There is also a clear desire for opportunities that provide professional growth and exposure to emerging technologies, such as AI, rather than solely maintaining established systems. When work becomes overly process-heavy or constrained by excessive bureaucracy, engagement tends to decline — often prompting individuals to explore alternative opportunities.
Ultimately, organisations that combine flexibility, career development, and an environment conducive to innovation will be best placed to compete for high-calibre FS tech talent.
The Verdict: What’s Winning?
If we were forced to pick a winner… well, no one’s really winning outright. But challengers are clearly gaining serious momentum.
Fintechs are hiring hard, paying competitively, and offering cultural advantages. Giants still offer comfort and scale but are battling the perception that they’re slow to adapt to modern talent priorities. It’s less a glamour showdown and more a tug-of-war: challengers pulling on dynamism and autonomy, giants holding on to security and prestige.
Life Stage Matters
If you’re a mid-career engineer itching to build something new and see direct results, challengers might be your playground. Fast-moving, lean teams mean your work gets seen, and you have a better chance to steer real outcomes (plus, maybe snag some equity while you’re at it).
On the flip side, if you’re eyeing long-term stability, structured growth, a hefty pension, and legacy projects, then a giant still has its charm. There’s a reason a polished bank name still looks slick on a CV.
Fintech or Giant — Questions to Ask Yourself
- What matters most to you right now — impact or infrastructure?
- Flexible culture or corporate structure? (Hint: most challengers win here.)
- Risk appetite vs. stability preference?
- AI-driven innovation or legacy systems?
So, Who’s Winning the FS Tech Talent War?
There’s no clean knockout yet, but challengers are making a big impact. With surging hiring, bold compensation, and cultural edge, fintechs are weaponising agility and fun. Giants, for their part, aren’t done yet; they still own stability and scale, but to stay winning, they’ll need to lean into flexibility, retraining, and purpose.
The real winners? Tech pros who know what they want — and aren’t afraid to chase it.
