Careers

03:48 PM
Greg MacSweeney
Greg MacSweeney
Commentary
Connect Directly
LinkedIn
Twitter
Facebook
Google+
RSS
E-Mail
50%
50%

IT Job Prospects Looking Good for Finance Tech Pros

IT workers have reasons to be optimistic about their careers, after two reports say salaries are increasing and technologists are in high demand.

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.

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio
Comment  | 
Print  | 
More Insights
More Commentary
Chief Data Officers: Organization Strategy & Cultural Change
Chief data officers are new to the financial services C-suite, but they are facing a number of challenges, including the need for new data governance and execution strategies, staffing, and new organizational structures to enable cultural change.
New York FinTech Innovation Lab Calls for New Entrepreneurial Applicants
Wells Fargo joins 14 other major financial institutions providing mentoring and guidance to the six chosen startups.
Micro Data Challenges in an Era of Macroprudential Regulation
Research and statistical analysis experts at central banks are tasked with developing sophisticated forecasts and models to identify systemic risk. Yet they are spending most of their time acting as data entry clerks, rather than developing these models.
The Perks of 'SmartSourcing' Shared Services in Financial Industry
A breadth of vital but undifferentiated business processes are still being replicated across the industry. They are all candidates for centralization.
Managing Social Media Risk Strategy: Technology Can Only Go So Far
Advanced analytical technologies are an important part of a social media risk management strategy, an Accenture report says, but the technology must be balanced with training and procedures.
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8, October 2014
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.