software developers

Fintechs and Why They Hire Remote Software Developers

Fintechs are financial technology companies that aim to solve a financial problem through technology! It’s as simple as that. However, finding engineers with the right skill set, who can do the job, and won’t cost an arm and a leg is the difficult part.

Companies like are solving this problem by providing remote software developers that are vetted for programming skills, soft skills, and remote work capabilities.

Why not hire local?

Absolutely! One should always go ahead and look for people they need from their surroundings, but in the 21st century, the skills you need might not be available to the people around you.

Lack of software developers and engineers

There are 1.5 million software engineering jobs in the US, but only 0.4 million software engineering graduates. This means that there are many more jobs available than there are people to do them. What should a company do when they can’t find competent engineers or just any engineers, for that matter? Go to remote hiring!

High Cost

Now that we know there is a gap in supply and a huge demand for engineers, we can see why these jobs command high salaries. They are in demand and if something is in demand it increases its price because of the scarcity factor. Yearly salaries for software developers go up to USD 100,000 for a fresh grad. One can imagine how costly a senior engineer might be to hire. Another reason why remote hiring lets you balance out the pay scales, as salaries need to be paid in the engineer’s home country where living cost is not going to be the same as that in Silicon Valley.

Lack of skills and experience

So even if there are only a few graduates and even they cost a fortune, if companies are able to afford them, everything should work out, right? NO. They may be hiring a software engineer, but with very limited skills. This would be a fresh graduate from college who has made a few programs during his college courses and nothing else.

The sophisticated languages your application needs and the experience it needs to be implemented take time to build and that fresh graduate simply can’t be of much use here. Remote hires, in this case, are great because they have been working on projects for years now and can help you scale up, down, add features, and much more for a fraction of the cost. They do this with the experience they have gained working for years in the industry.

These are some of the many reasons Fintechs hire remote software engineers. They are cost-effective, have enough experience, and can get the job done. Plus, with the COVID-19 pandemic, remote work has become the norm and companies are going to be hiring remote workers anyway, why not explore and find the ones that really work for you.

Skip the month-long process of finding, interviewing candidates, and set up a meeting in just 48 hours. A great place to look for such vetted engineers is A platform that brings vetted software engineers to companies all around the world!