January 25, 2013

Despite the generally dour mood on Wall Street as firms face new regulations and continued scrutiny from regulators, it seems that things are looking up for technologists in financial services.

Two reports this week point to an improved hiring market for technologists and for risk management professionals. According to eFinancialCareers.com, financial firms say technology and risk oriented skills are in demand, much more than other skills inside of financial services.

It was also good to be a technologist in any industry, according to a report from Dice.com, a career site for technology and engineer professionals. Technologists saw their salaries increases by an average of 5% in 2012, when compared to 2011.

None of this should be surprising. Technology, always the foundation of financial services, has become even more integral to the industry, as data metrics -- the lauded quantitative data analyst role -- are being used by all parts of the business. No longer are quants just needed on trading desks. Now, complex risk management calculations need quants to help crunch the numbers.

Hopefully the improving outlook for technologists in financial services will continue throughout 2013 and beyond.

ABOUT THE AUTHOR
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology.