Financial Software Developer Career Guide

Careers in software development have increasingly grown in popularity in recent years. The industry is expected to continue growing over the next several years, creating fruitful career opportunities for aspiring software developers. 

As a financial software developer, you would be working for a company that specializes in systems and programs for the financial industry. This could mean that you work at a bank, a financial management firm, a credit card company, or a SaaS (Software as a Service) company that specializes in finance.

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A financial software developer is someone who develops, modifies, and updates software programs for the finance and banking industry. They work with a variety of different businesses to develop anything from financial education software to debit/credit card software. 

In this role it will be helpful if you have some knowledge of the financial industry as a whole. Plus, most software development jobs will require extensive knowledge of at least one modern coding language (i.e., Javascript, Swift, or Scala.)

The responsibilities of a financial software developer will vary from job to job but, in general, you can expect to be responsible for some of the following tasks: 

  • Identify requirements for financial software: You’ll work with management and other departments to identify end-user specifications and requirements for financial software programs. 
  • Design algorithms to create new financial software programs: You’ll be working directly on the algorithms that will dictate how the programs and applications function. 
  • Test new programs and applications: Youll thoroughly test financial software programs once theyve been developed to identify and troubleshoot bugs.
  • Troubleshoot and maintain existing financial software: It will be up to you to troubleshoot any issues, make improvements, and provide support to end-users.
  • Assess user feedback: You’ll assess feedback from end-users to make changes and improvements to your financial software programs.

A bachelor’s degree is typically needed to attain a job as a financial software developer. A bachelor’s degree in software development, specifically, would be ideal in this field. In a software development degree you will learn crucial programming languages such as Java and C++. You will learn about scripting, data management, user experience design, and more. All of these skills are critical to your success in software development. 

You will also need some experience or understanding of finances and financial software in order to be qualified for these roles. This can come from internship experience or entry-level job experience where you are able to work closely with financial software in a business setting.

The different industries and employers that financial software developers can work with may surprise you. Its not only banks and credit unions, but any type of company that works with financial systems, programs, and/or software. 

  • Banks and Credit Unions: While there may not be a distinct need for software development at smaller banks and credit unions, the need for development and support at large financial institutions certainly exists. 
  • Credit Card Company: Credit card companies are always working to create new software to stay competitive within the industry. There are different levels to software development jobs at a credit card company – everything from entry-level to senior management. 
  • Investment Firms: Other types of financial service companies, like wealth management and investment firms, will hire developers to create software and tools that will help with investment efficiency and accuracy. 
  • SaaS Companies: There are plenty of SaaS companies that create software programs specifically for the banking and financial industry. This is a good opportunity to get hands-on experience at every point in the software development process. 

Software developers are hired by a wide range of companies, because of their capacity to create useful, secure platforms that immediately satisfy customer needs. These employers can include financial institutions, schools and universities, government businesses, and entertainment firms.

Software Development – B.S.

Youre a creative and tech genius who wants the bigger...

Youre a creative and tech genius who wants the...

Youre a creative and tech genius who wants the bigger opportunities.

  • Time: 70% of graduates finish within 36 months.
  • Tuition and fees: $3,920 per 6-month term.
  • Certifications: several CIW and CompTIA included in this program.

Certified Internet Web certification included:

  • CIW User Interface Designer

CompTIA certifications included:

  • CompTIA A+
  • CompTIA Project +

Software development is the second-highest rated specialty within IT. Secure your future with a degree and additional certifications.

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There are certain skills that every financial software developer needs to have to get a position within the industry:

  • Computer skills: both basic and advanced
  • Programming languages: you must be well-versed in at least one programming language
  • Self-development skills: to keep up-to-date with fast-changing trends
  • Mathematically inclined: knowing basic and advanced mathematical equations is helpful
  • Acute attention to detail: it’s easy to overlook elements in software development
  • Coding experience: some experience in coding will be necessary

How Much Does a Financial Software Developer Make?

$101,000

What Is the Projected Job Growth?

22%

The job outlook for financial software developers is great. The software development industry is expected to grow by 22% over the next decade, which is considered “much faster” compared to other industries. 

Companies today are becoming increasingly creative with software development, and the financial industry is full of opportunities in this field. 

Do I Need Certifications to Become a Financial Software Developer?

Yes

Financial software developers are not always required to obtain related certifications, but to stand out for roles and hone your skills, certs are always a good idea. Degree programs that offer both a degree and certifications can help you boost your résumé. Here are a few certifications that employers want to see most:

-CompTIA A+

-CompTIA Project+

-CIW User Interface Designer

-ITIL®1 Foundation

Interested in Becoming a Financial Software Developer?

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