TITLE: The Fintech Boss Who Received 20,000 Applications for Five Jobs: “It’s Sad”
TLDR:
- Fintech company, Databento, received 20,000 applications for just five job openings
- CEO Christina Qi is concerned about the overwhelming number of applications
- Many of the applicants are early career professionals, including newly graduated computer science students
- Prospects for software developers, in particular, are overcrowded
- Qi asks for patience as she sifts through the mountain of applications and tries to provide feedback
Article:
Databento, a fintech company that provides an API for hedge funds, recently received a staggering 20,000 applications for just five job openings, leaving CEO Christina Qi shocked and concerned. Qi emphasizes that her company is not a household name, and the flood of applications is indicative of the challenges faced by job seekers in the current job market. She believes that large companies must be receiving even more applications, making it increasingly difficult for individuals to find employment.
The majority of the applications Databento received were from early career professionals, many of whom were newly graduated computer science students. Qi points out that while studying computer science was once a guarantee of employment, this is no longer the case. The market for software developers has become overcrowded, and even those with computer science degrees and no experience face slim chances of securing employment.
Qi explains that the shortage of opportunities has shifted to other areas, such as marketing. However, even marketing roles now require experience and specialized knowledge. The oversupply of qualified candidates makes it difficult for individuals without experience to stand out in the job market.
As Databento grapples with the substantial number of applications, Qi pleads for patience. The company does not use artificial intelligence to filter candidates, and she tries her best to provide feedback, although this becomes increasingly challenging with the overwhelming volume of applications. Qi notes that many applicants like to engage in conversation and challenge her perspective when she does provide feedback. While she appreciates this enthusiasm, the sheer number of responses makes it difficult to engage with each applicant on an individual level.
Christina Qi, a renowned figure in the fintech industry, established Databento in 2020 after building a high-frequency trading hedge fund while still a student at MIT. The company’s rapid growth and the overwhelming response to its job openings indicate the high demand for opportunities in the fintech sector.
