What Programming Language Should I Learn for Finance?

Deciding which programming language to learn for a career in finance will depend on your role. Financial professionals who deal with large amounts of data are using Python and R for assistance with data analysis. While you could potentially choose from thousands of programming languages to learn, a specific handful, such as Java and Python, are popular and beneficial within the finance industry. 

So, what programming language should you learn for finance? Explore how programming languages connect to the finance industry, including how to use them, the most beneficial ones to learn, how to choose a programming language, and more. If you’re ready to start building your skills, consider enrolling in the Python for Everybody Specialization from the University of Michigan, where you’ll be introduced to fundamental programming concepts, including data structures, networked application program interfaces, and databases, using the Python programming language. 

How do you use programming in the finance industry?

In the finance industry, programming is necessary to create and run the software that makes various financial tasks possible from the convenience of a smartphone or laptop. With the growth of the fintech industry, finance and technology converge to impact the way consumers complete various financial tasks, from banking to investing to simply paying back a friend after they covered your bar tab. 

Others in the finance industry, beyond programmers and software developers, may likewise use programming. For example, financial analysts and risk managers may use programming languages to analyze large data sets or create tools for making predictions about investments. 

You also might use programming in the finance industry to:

• Develop blockchain for a cryptocurrency

• Develop finance-related apps

• Conduct quantitative financial research and analysis

• Create risk model frameworks for risk management

• Create mathematical and statistical models for trading

Which finance roles need programming skills?

Financial analysts, risk managers, software engineers, and app developers need programming skills. For example, a financial analyst might use a programming language such as Python to compile and sort through large data sets to then analyze that data and provide financial recommendations accordingly. A risk manager might similarly use a programming language to sort through their own data to come up with risk-related recommendations. Meanwhile, software engineers and app developers may use programming skills to create fintech solutions, such as software as a service (SaaS) offerings for businesses or consumer-facing apps.

As programming languages allow for the design of computers, mobile devices, and software, they’re applicable to many industries, including the finance industry, making programming an important skill. 

What programming language should I learn for finance?

Different finance jobs are more suited to different languages, so you’ll likely want to pick a language to learn that suits your desired career, as well as one that’s accessible based on your current skill level. Luckily, some of the most popular programming languages used in finance, such as Java and Python, are also some of the most popular programming languages overall, so a wealth of resources—such as boot camps and certificate programs—can assist you in learning your chosen language.

Python

Python is one of the most popular programming languages, and it is becoming a key tool within the finance and banking industries. Additionally, experts consider Python to be beginner-friendly, and it’s also free and open source.

Employees with Python programming skills are in high demand. Finance professionals can use Python for a range of tasks, including financial analysis, data manipulation, and fintech product development. You may also use it in cryptocurrency analysis. However, Python is generally not preferable for building mobile apps.

Java

Java is another popular programming language in the finance sector when dealing with large volumes of data that require a high level of security. Additionally, large businesses throughout the world use Java to develop client-server applications.

In contrast to some other programming languages that are free to use, such as Python, Java does charge users a licensing fee. 

JavaScript

JavaScript is also popular, primarily for developing and maintaining interactive online content. JavaScript is versatile and high-level, too, so if you learn JavaScript for finance, the skill may translate to other industries as well.

In the finance industry, professionals use JavaScript to create consumer-facing trade platforms such as Robinhood or E*TRADE, to develop mobile payment apps, or to produce tools for managing cryptocurrency.

C++

C++ is ideal for financial environments where speed is a necessity—such as trading—as the language specializes in creating programs with little lag time. Accordingly, finance professionals might use C++ to develop a trading system or platform based on an algorithm.

C++ is a little more advanced compared to some of the other potential programming languages you might choose to learn, so consider building programming skills in other languages before learning C++.

C#

Programmers use Microsoft’s C# to program applications via Microsoft’s .NET application platform. C# programs include cloud-based and Internet of Things (IoT) apps, among other uses. In finance, professionals may use C# programs to manage stocks, including trading stocks, managing portfolios, and overseeing real-time monitoring and analysis.

As is the case with C++, you may want to learn C# after mastering another beginner-accessible programming language such as Python.

Ruby

While not as widely popular as Python, Ruby has still built a following among startups because it’s beginner-friendly and fast. Its extensive libraries are ideal for statistical modeling and numerical analysis, and its dynamic typing system is especially useful in trading environments where rapid response is essential. Additionally, Ruby has several libraries built specifically for financial analysis, including FinModeling, which provides tools for building financial models.

If you’re looking for the programming language that might provide you with the most job opportunities, you may want to consider learning a popular and in-demand language first and then bolstering your programming knowledge with Ruby later. 

R

Financial professionals use R, another free programming language, for data and statistical tasks in risk management, investing, trading, and financial strategy. R is becoming an alternative to Excel due to its robust analytical features. It’s also fairly simple for beginners to learn because of the online support, books, and tutorials available, and you can apply your creativity in R because of its versatility. It has grown in popularity within the finance industry, surpassing programming languages like SAS and MatLab.

Factors to consider when choosing programming language for finance

You’ll need to consider job fit, your existing experience, language popularity, and more before deciding on a programming language to learn. Many programmers learn multiple programming languages because, as you can see, different languages suit different tasks, and knowing multiple languages can help you navigate different challenges, roles, and companies. However, where you start depends on your current situation.

Fit for the job

If you have a specific finance job to pursue, learn the programming language most associated with that role. Consider researching job listings for potential opportunities, and look at the programming language requirements. Doing so can give you an idea of what programming languages are most in demand for that job.

Ease of use vs. experience

If you’re starting your coding journey, you may want to begin with one of the easier-to-learn, more beginner-friendly languages. Python, for example, is a beginner-friendly programming language and offers versatility in capabilities. Not only is Python accessible for those with limited technical experience, but it also assists with various finance-related tasks.

As you become comfortable with a beginner-friendly programming language such as Python, you may then want to turn your attention to more advanced programming languages, such as C++.

Language popularity

In addition to a language’s fit for a specific role that interests you, you might also want to consider the programming language’s popularity in order to broaden your career prospects as much as possible.

According to one study of the most currently popular programming languages, Python leads the pack, followed by Java, JavaScript, C++, and TypeScript, rounding out the five most popular options as of 2024 [1].

How to learn programming for finance

Once you’ve identified a programming language you’d like to know, you have a few options, such as self-teaching or boot camps, to learn programming for finance. Discover these methods in more detail:

• You can take the self-teaching method, accessing online and freely available written and video tutorials.

• You can attend a coding boot camp, which is a short, intense educational program designed to develop coding skills as quickly as possible so that you can enter the workforce promptly.

• You can pursue an online shareable certificate or degree, which may provide you with a more in-depth or comprehensive experience, as well as official credentials. For example, on Coursera, you can take the Accounting Data Analytics Specialization offered by the University of Illinois, where you can learn about using Python for data analytics in accounting and applying machine learning to accounting with Python. 

Whatever option you choose, you can make the learning process potentially easier by practicing programming through working on personal projects outside of class. For example, you can use publicly available financial data to perform real-world financial tasks, such as using R to calculate weighted returns for a portfolio of assets or compiling and analyzing monthly returns data for S&P 500 companies.

Learn a programming language for finance jobs on Coursera

Programming languages are useful in the financial industry, and you can choose a programming language to learn based on your position in this field. Explore options on Coursera. Whether you want to develop a new skill such as programming, get comfortable with an in-demand technology, or advance your abilities, keep growing with a Coursera Plus subscription. You’ll get access to over 10,000 flexible courses.

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