More tech workers leaving big firms for fintech startups – Becker’s Hospital Review

Tech workers at established companies are increasingly leaving to work for fintech startups, Bloomberg reported June 5.

The migration of data scientists and other employees from Silicon Valley tech giants and Wall Street banks accelerated during the pandemic, according to data from workplace intelligence company Revelio Labs. The workers have been leaving Amazon, Alphabet, Meta and Microsoft for fintech firms Stripe, Coinbase, Robinhood and Square.

The tight labor market and competitive hunt for tech talent has pushed many workers to look elsewhere for higher salaries and more work-life balance.

“People have stopped and reevaluated what’s important to them,” Revelio economist Lisa Simon told Bloomberg.

Exits from traditional banks such as Goldman Sachs and Morgan Stanley to fintech companies are also up 75 percent since the pandemic began, according to the report. The month of March saw the most monthly job changes since Revelio Labs started tracking the data in 2011.

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