As the FinTech movement continues to revolutionize the financial world, lucrative opportunities abound for professionals with the right talent. Institutions in this sector leverage technology to optimize a variety of back-office functions, including the trading of securities.
One of these areas involves using algorithms to conduct trades faster than ever before: algorithmic or high-frequency trading (HFT).
So let’s look closely at algorithmic trading and its potential to foster a lucrative career path for IT professionals. This unique position requires a mix of programming chops and some interest in securities trading. The shortage of skilled candidates for this role means the demand for these FinTech pros remains high!
How to Build a FinTech Career in Algorithmic Trading?
A High-Level Overview of Algorithmic Trading
Simply stated, algorithmic trading or HFT leverages algorithms to greatly boost the velocity of automated financial trades. Financial organizations regularly strive to reduce the time it takes to make an automated trade – even by a millisecond. As such, they increasingly turn to algorithmic trading to gain these critical efficiencies in a highly-competitive business sector.
Once again, these algorithms effectively function in an automated fashion; performing trades with an extreme velocity. Still, talented tech professionals remain necessary to create, manage, and fine-tune these algorithms. As more financial companies adopt HFT, the demand for skilled programmers with experience in this area naturally increases. So let’s dive into the skills and experience an algorithmic trading professional needs to find work in this area.
Defining The Skills of a Typical Algorithmic Trader
The ideal algorithmic trading candidate typically boasts skills and experience as a programmer. Other HFT professionals leverage an educational background in science, mathematics, or finance to qualify for this role. However, in those cases, some tangible programming experience definitely helps when applying for open positions.
Skills in data analysis, machine learning, database design, and a measure of FinTech experience also identifies the top candidates. Considering the strong demand for algorithmic traders in the industry, someone with the right experience typically commands lucrative pay.
Transitioning Into an Algorithmic Trading Career Path
If you are a programmer or IT professional interested in becoming an algorithmic trader, here’s some advice. As noted earlier, any tangible FinTech experience adds some heft to your résumé. Additionally, consider earning an algorithmic trading certification to boost your candidacy. Many of these courses also provide instruction in AI-powered trading and quantitative analysis, useful skills for any algorithmic trader.
Ready to Apply to Your Next Job?
If you want to transition your IT career into the FinTech world, connect with The CERES Group. As one of the top technical staffing agencies in Boston, we know the companies needing talented FinTech candidates. Connect with us at your earliest convenience!