New analyses are showing that the staff of major banks and some of the world’s largest tech giants are increasingly pursuing opportunities with fintech startups. This includes bankers, engineers, data scientists and sales staff from Wall Street, London’s financial district and Silicon Valley. In fact, such departures are up 75% since the start of the COVID-19 pandemic. The reasoning behind many of these moves seems to be people re-evaluating their priorities and seeking opportunities that can provide them with a better work-life balance, more pay and attractive career development prospects.
At the same time, this recent trend is already showing signs that it is easing off. As inflation looms and darkens economic outlooks worldwide, the future of funding for major tech initiatives is more in doubt, giving pause to many as they contemplate what is best for them and their future.