Quote:
Originally Posted by Unregistered
The good thing is that this is changing. Banks are now hiring tech employees at record levels, and they're fighting hard against their competition, which gives an upward pressure on salaries. I was in banking tech not too long ago, and I saw no less than 4 new hires from FAANG (albeit at VP level and above). The competition between banks, and with Fintechs means that management is waking up their idea on treating tech as a cost centre.
It also makes a big difference which team you're in. If you're working on new modernisation projects, the skills you get are a lot more sellable. If you're mostly supporting BAU on legacy services, then it can be quite a dead end if you do it for long.
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Not really. Banks have remained more or less the same, offering similar pay range for the past 2-3 years.
The general consensus in the tech community is that once you have vested all your stocks in FAANG, you either stay on and go for E7/L7 and retire or join banks for a downgrade in salary and a significantly easier WLB.
No offence but your observed anecdotal evidence has been happening the past 5-10 years, nothing much has changed. Your last line is also a pretty obvious take, not sure if there's even a point mentioning it. It's equivalent to saying "if you join a awful company, you will have a bad time." Yeah duh.