Finance to software development

No matter what you do, the concept of changing a career can be scary. We’re often asked about how difficult it would be to move careers from finance to software development. The fact is, it will certainly impact you. However, no matter what the industry, if you’re not happy with your job, or if you want to enhance your skills, then it’s time to do something about it. 

From Finance to Software Development

There has never been a better time to change from finance to software development. Likewise, there has never been a better time to be a software developer in the finance industry. Fintech is growing all the time, and businesses in this industry need people who understand both programming and finance.

More and more finance employees are learning the skills for software development. I’ve asked some of our students and graduates why they chose to learn software development, and the responses were varied. Some said they changed because they were tired of looking at other people’s numbers. Others were sick of being the person who had to say “no” because of money reasons. 

On the other hand, others recognised the value that tech skills would have in modern finance. Ledgers are digitalised now, and knowledge in software development has already proven itself invaluable in automating many menial tasks in accounting. Where’s the proof? Well, look at brilliant applications like Sage, Xero, Quickbooks, and more. If you work in finance, have these applications made your lives easier? I would guess the answer is “yes”.

Rise of Fintech

If you want to stay in finance but as a developer instead, then the rise in fintech is enormous. Think about it. Somebody with the abilities of, let’s say, an accountant, who can build solutions to accountancy-related problems is invaluable to fintech. Fintech is growing rapidly, and traditional banks are coming under increasing pressure from tech giants, bitcoin, and more. 

We recently asked 5 Day Coding Challenge participants what line of work they were in. The finance industry arrived second on the list. However, this doesn’t come as a surprise to me. As I’ve already mentioned, a lot of the world of finance is now digitalised. Accountants, for example, are learning all the time from working through cloud-based applications, from automating payrolls to figuring things out in excel sheets, etc. Because much of modern finance involves software, many of our developers and challenge participants, with finance backgrounds, find the programme much easier. This is because unknown to themselves, they already have an understanding of much of the basics.

While being good at maths is no longer the most important thing in software development, problem-solving certainly ranks as one of the best assets that somebody can have. Generally, people who work in finance have buckets of problem-solving skills. It comes with the territory, and they are excellent at dealing with the smallest of details and spotting patterns. This type of skill is the essential thing to have when it comes to coding.

Finance & Development – Vast Prospects

Some finance workers have told me that they opted for software development because they needed to switch career completely. One person told me that the problem she had with accountancy was that there was too much repetition. Also, the scope of the role didn’t look like it was going to change much, no matter where she worked. She opted for a career in software development because she knew that the opportunities with code were vast. Her choices are broader now. She can remain in finance and create software to develop ledgers or automation. Or, she can completely change industries and look into things like game development, cybersecurity, IoT, AI, RPA’s, you name it. The prospects for a developer are vast. 

Life is for living

Life is for living. While work is a necessity for most of us, having a job that you like is important. We spend approximately one-third of our lives working. I’d rather finish a workday with a smile on my face than a scowl.

So, if you’ve been thinking about switching career from the finance industry to software development, or indeed, if you’re thinking about upskilling so you can rise higher on the ladder, why not meet the Code Institute team at our next webinar? Register now through the form below.