IT roles in Financial Industry (Systems, Networks etc)
Discussion
Anyone got any experience of working in IT (Like Cisco networks or Linux, Systems engineer etc) but in Financial industry so Banking or Asset management, hedge funds, trading etc.
Wondered what that sector was like working in? Pay is quite good (generally about £10k more than your average company) but why? Is it a case of one mistake and you're out the door?
Would I be silly to think I could do a 9-6 regular working day and go home (Excluding out of hours cover)?
Honestly don't know so any C&C would be greatly appreciated. Some I know in passing told me that financial multicast networks were a 'pain in the ass' but that was all.
Wondered what that sector was like working in? Pay is quite good (generally about £10k more than your average company) but why? Is it a case of one mistake and you're out the door?
Would I be silly to think I could do a 9-6 regular working day and go home (Excluding out of hours cover)?
Honestly don't know so any C&C would be greatly appreciated. Some I know in passing told me that financial multicast networks were a 'pain in the ass' but that was all.
The financial Industry you're referring to is the "Investment Banking Sector" and not retail banking.
The Investment Banking Sector is highly competitive and very, very difficult to get a job there. You must be a geek or be very, very good & intelligent in your specialize area to have a chance of getting an IT role there because the interviewers are all highly intelligent.
It's a fast pace area where Traders expect quick resolutions of bugs\issues when it arises.
So my advice is, go for it but don't hold your breathe
The Investment Banking Sector is highly competitive and very, very difficult to get a job there. You must be a geek or be very, very good & intelligent in your specialize area to have a chance of getting an IT role there because the interviewers are all highly intelligent.
It's a fast pace area where Traders expect quick resolutions of bugs\issues when it arises.
So my advice is, go for it but don't hold your breathe
It depends what role you are after, a couple of investment banks I have worked with sub some of their networking and retain some key aspects ( at the time, low latency trading) in house. Getting a role directly with the banks is difficult, especially if you have no previous experience of the environment etc. There are a few banking technology type shows through the year and some of the large datacentre providers have specialist events which might give you a good chance for some person networking.
I am assuming you have a clean record for CRB?
And yes, if you think it's a 9-6 role you will be disappointed.
I am assuming you have a clean record for CRB?
And yes, if you think it's a 9-6 role you will be disappointed.
Thanks. Clean CRB yep. Shame about the hours. My missus is a lawyer in London and she has to work quite late some nights - thankfully not all the time. Id probably hate it if I were contracted for 9-5 but 'expected' to work 7am till midnight. I don't mind doing it when needed as its part of the job especially when dealing with other countries but would probably grate on me regardless of what I was being paid.
I'm in Cisco networks. I asked because this recruiter wont leave me alone and I'm just not sure I am up to working in that sector with networks or if Id enjoy the environment. I say that because I just don't know what its like or if Id be a good fit so worried this recruiter is looking for his next pay check without a care for who he sends to do the job! I cover out of hours bi weekly for 14 sites globally which can be a pain sometimes. But nearly always do 9-530. And I work from home!
This particular job description doesn't mention multicast but its Nexus and Cat hardware which I work with (not NX7k's though
). Where as your average job description for this sector would be pretty stringent with requirements (specific technologies, protocols and experience in the industry itself as a definite must) almost like this job would allow some lee way with experience or knowledge which is strange.
I'm in Cisco networks. I asked because this recruiter wont leave me alone and I'm just not sure I am up to working in that sector with networks or if Id enjoy the environment. I say that because I just don't know what its like or if Id be a good fit so worried this recruiter is looking for his next pay check without a care for who he sends to do the job! I cover out of hours bi weekly for 14 sites globally which can be a pain sometimes. But nearly always do 9-530. And I work from home!
This particular job description doesn't mention multicast but its Nexus and Cat hardware which I work with (not NX7k's though
). Where as your average job description for this sector would be pretty stringent with requirements (specific technologies, protocols and experience in the industry itself as a definite must) almost like this job would allow some lee way with experience or knowledge which is strange. MikeGoodwin said:
Thanks. Clean CRB yep. Shame about the hours. My missus is a lawyer in London and she has to work quite late some nights - thankfully not all the time. Id probably hate it if I were contracted for 9-5 but 'expected' to work 7am till midnight.
You will be expected to work long hours. They pay a lot and 50 hour weeks year in year out are common.
More hours when busy. They will expect to own you and it
will be nothing else but bed and work at busy times. Any
social life you had will suffer.
I never had the time to spend the money I earned and staff burnout wasn't unknown.
These days I work a strict 40 hour week. Work smarter, not harder.
I have worked in the city for a number of years in networking (Cisco, juniper, checkpoints, F5s bluecoats etc) as a permie and as a contractor.
I have worked for the big investment banks and other financial organisations. The investment banks used to pay more but they insist on prior experience in a similar place. The reason they paid more was they expect their pound of flesh.
But it will really depend on what your role is and what team you sit in to what hours you do. In a design/architecture sort of role you are much more likely to get away with a 9-6 sort of role with no over time or weekend work.
If you are in a support role then expect to be doing shift work and if something major goes wrong don't expect to be going home. If you are doing project/delivery work then most of your changes will be out of hours.
I have worked for the big investment banks and other financial organisations. The investment banks used to pay more but they insist on prior experience in a similar place. The reason they paid more was they expect their pound of flesh.
But it will really depend on what your role is and what team you sit in to what hours you do. In a design/architecture sort of role you are much more likely to get away with a 9-6 sort of role with no over time or weekend work.
If you are in a support role then expect to be doing shift work and if something major goes wrong don't expect to be going home. If you are doing project/delivery work then most of your changes will be out of hours.
dcb said:
These days I work a strict 40 hour week. Work smarter, not harder.
My mind set right there...... I think the responses on here have confirmed what I thought. I wouldn't be a good fit for this sector and definitely wouldn't enjoy it. Im not going to burn myself out for any amount of money.I was applying for jobs earlier this year but stopped about a month ago after deciding to crack on with certs for a year or two. Some good projects coming up at work so wouldnt be too bad if I stayed.
Thanks all, appreciate the responses.
There's a certain amount of scare-mongering on this thread. I've worked in financial tech in the city for many years, and am currently CTO for a large hedge fund.
Yes, you need to be bright to work in this sector. The people who get on best are those who are bright and motivated and with a genuine passion for the technology. And yes, when there are issues with key production systems you are expected to do whatever is necessary to sort things out. But constant 50+ hour weeks, whilst I'm sure they do happen in some organisations, are not by any means ubiquitous.
Yes, you need to be bright to work in this sector. The people who get on best are those who are bright and motivated and with a genuine passion for the technology. And yes, when there are issues with key production systems you are expected to do whatever is necessary to sort things out. But constant 50+ hour weeks, whilst I'm sure they do happen in some organisations, are not by any means ubiquitous.
Hedgeman said:
There's a certain amount of scare-mongering on this thread. I've worked in financial tech in the city for many years, and am currently CTO for a large hedge fund.
Yes, you need to be bright to work in this sector. The people who get on best are those who are bright and motivated and with a genuine passion for the technology. And yes, when there are issues with key production systems you are expected to do whatever is necessary to sort things out. But constant 50+ hour weeks, whilst I'm sure they do happen in some organisations, are not by any means ubiquitous.
Totally agree - I've worked in the industry for 20 years (although in app support, not networks) and done some weekend work and overnight calls but much less of that these days because most big banks have branches in other countries and so they cover the unsociable hours - US cover from 5pm or so and Asian offices are around until 9am or later (they work much longer hours). Rarely have to work past 6 and normally in 8.30 to 9. Obviously, some places may be worse but generally, it's not that bad.Yes, you need to be bright to work in this sector. The people who get on best are those who are bright and motivated and with a genuine passion for the technology. And yes, when there are issues with key production systems you are expected to do whatever is necessary to sort things out. But constant 50+ hour weeks, whilst I'm sure they do happen in some organisations, are not by any means ubiquitous.
Hedgeman said:
There's a certain amount of scare-mongering on this thread. I've worked in financial tech in the city for many years, and am currently CTO for a large hedge fund.
Yes, you need to be bright to work in this sector. The people who get on best are those who are bright and motivated and with a genuine passion for the technology. And yes, when there are issues with key production systems you are expected to do whatever is necessary to sort things out. But constant 50+ hour weeks, whilst I'm sure they do happen in some organisations, are not by any means ubiquitous.
Totally agree - I've worked in the industry for 20 years (although in app support, not networks) and done some weekend work and overnight calls but much less of that these days because most big banks have branches in other countries and so they cover the unsociable hours - US cover from 5pm or so and Asian offices are around until 9am or later (they work much longer hours). Rarely have to work past 6 and normally in 8.30 to 9. Obviously, some places may be worse but generally, it's not that bad.Yes, you need to be bright to work in this sector. The people who get on best are those who are bright and motivated and with a genuine passion for the technology. And yes, when there are issues with key production systems you are expected to do whatever is necessary to sort things out. But constant 50+ hour weeks, whilst I'm sure they do happen in some organisations, are not by any means ubiquitous.
Have to echo Hedgeman and nelmo - I've worked in Asset Management IT since the mid-90s and done a few overnighters and a bit of weekend work here and there but nothing significant. These days, I'm an Equity Trading BA, so do a fair bit of Algorithmic Trading stuff and I think the latest I have worked was about 7pm for a few nights when we went live with a new system.
Most places have a 'follow the sun' approach, so you can quite easily handover to another region, should the need arise.
You've got nothing to lose by talking to them - you aren't obligated to take the job if it's offered to you.......
Most places have a 'follow the sun' approach, so you can quite easily handover to another region, should the need arise.
You've got nothing to lose by talking to them - you aren't obligated to take the job if it's offered to you.......
Well i had a chat with him and it sounded pretty positive. Recruiter was decent too... makes a refreshing change to speak with one that's actually decent!
Its a small-ish firm - 2 offices <100 employees. Hours sounded good (9-5) and was told its not like the larger firms or banks etc where as people have put it expect their pound of flesh. Obviously if there's an issue Id have to stay and fix but that's the job so no surprises there....
Due to its size I'm unsure how big its infrastructure will be and its a small team which is my next concern. Its 2 offices and there wasn't any mention of any datacenters (probably quite obviously so!) which is where I feel my 'roots' are but that doesn't mean their infrastructure isn't impressive. I am used to a small team looking after 14 data centers and the firewalls in 12 offices. Im also used to having a never ending list if project work so be interesting to see how Ill be spending my time.
Its a small-ish firm - 2 offices <100 employees. Hours sounded good (9-5) and was told its not like the larger firms or banks etc where as people have put it expect their pound of flesh. Obviously if there's an issue Id have to stay and fix but that's the job so no surprises there....
Due to its size I'm unsure how big its infrastructure will be and its a small team which is my next concern. Its 2 offices and there wasn't any mention of any datacenters (probably quite obviously so!) which is where I feel my 'roots' are but that doesn't mean their infrastructure isn't impressive. I am used to a small team looking after 14 data centers and the firewalls in 12 offices. Im also used to having a never ending list if project work so be interesting to see how Ill be spending my time.
MikeGoodwin said:
Well i had a chat with him and it sounded pretty positive. Recruiter was decent too... makes a refreshing change to speak with one that's actually decent!
Its a small-ish firm - 2 offices <100 employees. Hours sounded good (9-5) and was told its not like the larger firms or banks etc where as people have put it expect their pound of flesh. Obviously if there's an issue Id have to stay and fix but that's the job so no surprises there....
Due to its size I'm unsure how big its infrastructure will be and its a small team which is my next concern. Its 2 offices and there wasn't any mention of any datacenters (probably quite obviously so!) which is where I feel my 'roots' are but that doesn't mean their infrastructure isn't impressive. I am used to a small team looking after 14 data centers and the firewalls in 12 offices. Im also used to having a never ending list if project work so be interesting to see how Ill be spending my time.
I'd see the size as a potentially very good thing:Its a small-ish firm - 2 offices <100 employees. Hours sounded good (9-5) and was told its not like the larger firms or banks etc where as people have put it expect their pound of flesh. Obviously if there's an issue Id have to stay and fix but that's the job so no surprises there....
Due to its size I'm unsure how big its infrastructure will be and its a small team which is my next concern. Its 2 offices and there wasn't any mention of any datacenters (probably quite obviously so!) which is where I feel my 'roots' are but that doesn't mean their infrastructure isn't impressive. I am used to a small team looking after 14 data centers and the firewalls in 12 offices. Im also used to having a never ending list if project work so be interesting to see how Ill be spending my time.
- You'll get a much broader view the total tech stack.
- You won't be as disconnected from "the business".
Likely you'll learn a lot more, and have a much richer set of skills for your next job.
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