IT in banks - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




IT in banks

Reply
 
Thread Tools
  #1 (permalink)  
Old 25-04-2011, 04:24 PM
Junior Member
 
Join Date: Apr 2011
Posts: 2
sochews is on a distinguished road
Default IT in banks

Hi all,

I have read this forum and found out that some people mentioned that IT in banks are quite well paid.

I'm a IT student in local uni. Can someone with relevant exp give some insights on what are kind of IT jobs available in banks, what do they really encompass and how well/differently are they paid?

Reply With Quote
  #2 (permalink)  
Old 11-05-2011, 12:25 PM
Unregistered
Guest
 
Posts: n/a
Default

It depends on the experience.

Most banks pay well and ONLY hire those that have banking experience.

There is a back door approach and that is to work for company that deals with banks such as software / services and then get yourself in with related Banking experience but at its still worth it.

The time at the bank may not be to everyones liking as the culture is rather top down and at some investment bank, it is rather harsh and abusive.

As I mention , may not be to everyone cup of tea.

But the pay is not going to be able to be match out side. So for a simliar post, just up it 40 % to 60% monthly and that is the pay you should be getting from non bank to bank.

For bank to bank, its the usual 25% to 30 % as dictated by HR and how hard the hiring manager wants you.

Reply With Quote
  #3 (permalink)  
Old 13-05-2011, 11:08 AM
Junior Member
 
Join Date: Apr 2011
Posts: 2
sochews is on a distinguished road
Default

thanks for your reply and your insight on the salary aspect.

but just to check with you on what the jobs can encompass. i know IT in banks mainly revolves around development and infrastructure, but what exactly do the people in the teams do?

developers develop programs, i think that's simple enough. but what about the infra side? i heard they do support and stuff, but support what? is it like call centre? or those go to your comp when your comp breaks down kind of guy?

Reply With Quote
  #4 (permalink)  
Old 13-05-2011, 10:53 PM
Unregistered
Guest
 
Posts: n/a
Default

yes something like this. there are many kinds of IT in banks.

1. yes go to comp when comp break down. bank usually at least 300 people, so need to be available for when they need to reset password, install programs, troubleshoot software problems, etc etc.

2. banks use propriertary software, so either u need to:
a. support software when it fails.
b. code new software modules as and when needed.

please note that 2a and 2b are to be done by different department so no one IT guy can handle it. it might come across as a monotonous job.

3. networking to interface with online systems, usually secure connections to MAS or SWIFT alliance. MAS does do SWIFT drills, so IT staff is needed. Or link to other branches or networks.

4. Programming in front office. many positions available, but need banking experience to support analysts' decisions to create algorithms and software models.

5. the hardware setup guy - acquire and assemble keyboards, monitors, printers, new switches, etc. something like a technician.

6. IT planning, support, maintance, security, etc.

these are some of the few broad description i could come out with.

there are many kinds of roles available, pick which kind suits you. but i have to say not all positions pay well.

if possible, transit to other roles in the bank.
Reply With Quote
  #5 (permalink)  
Old 01-12-2011, 04:06 PM
Unregistered
Guest
 
Posts: n/a
Default

Life as IT in banks is not easy. depends on the system, be prepared to be on standby 24x7.
Reply With Quote
  #6 (permalink)  
Old 01-12-2011, 04:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Knew of someone who did IT in the financial industry (worked in bank and currently in an insurance company). Good pay but no weekend life.
Reply With Quote

  #7 (permalink)  
Old 08-12-2011, 09:43 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
It depends on the experience.

Most banks pay well and ONLY hire those that have banking experience.

There is a back door approach and that is to work for company that deals with banks such as software / services and then get yourself in with related Banking experience but at its still worth it.

The time at the bank may not be to everyones liking as the culture is rather top down and at some investment bank, it is rather harsh and abusive.

As I mention , may not be to everyone cup of tea.

But the pay is not going to be able to be match out side. So for a simliar post, just up it 40 % to 60% monthly and that is the pay you should be getting from non bank to bank.

For bank to bank, its the usual 25% to 30 % as dictated by HR and how hard the hiring manager wants you.

>>Most banks pay well and ONLY hire those that have banking experience.
Yep.

>>There is a back door approach and that is to work for company that deals with banks such as software / services and then get yourself in with related Banking experience but at its still worth it.
Yep. Or get yourself in a position which deals with software that banks use.

>>The time at the bank may not be to everyones liking as the culture is rather top down and at some investment bank, it is rather harsh and abusive.
Totally agree about the bit on IBs.

>>But the pay is not going to be able to be match out side. So for a simliar post, just up it 40 % to 60% monthly and that is the pay you should be getting from non bank to bank.
Yep.
Reply With Quote
  #8 (permalink)  
Old 08-12-2011, 09:45 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Knew of someone who did IT in the financial industry (worked in bank and currently in an insurance company). Good pay but no weekend life.
That's the way it is. It's a relationship in which you sell your time to the bank.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
From civil service to banks alwaysnforever Income and Jobs 25 08-06-2013 08:06 PM

» 30 Recent Threads
Lawyer Salary ( 1 2 3... Last Page)
18,833 Replies, 7,968,083 Views
Singapore Power EDGE Program ( 1 2 3... Last Page)
30 Replies, 7,252 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,126 Replies, 800,993 Views
DBS ACE Programme ( 1 2 3... Last Page)
74 Replies, 24,250 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
5,021 Replies, 2,793,542 Views
How much are you earning per annum? ( 1 2 3... Last Page)
13,557 Replies, 5,654,753 Views
Career as Teacher ( 1 2 3... Last Page)
7,043 Replies, 4,465,463 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
884 Replies, 271,073 Views
Compare civil service salary ( 1 2 3... Last Page)
15,138 Replies, 10,294,892 Views
GovTech ( 1 2 3... Last Page)
3,512 Replies, 1,202,553 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,179 Replies, 408,236 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,822 Replies, 920,470 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,031 Replies, 3,602,657 Views
Singapore Examination and...
2 Replies, 4,161 Views
IMDA (under MCI) ( 1 2 3... Last Page)
474 Replies, 230,623 Views
Micron starting pay ( 1 2 3... Last Page)
661 Replies, 271,744 Views
Singapore LNG Pay
7 Replies, 4,066 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,263 Replies, 1,026,016 Views
If you can't find a company here... ( 1 2 3... Last Page)
119 Replies, 25,990 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,054 Replies, 537,926 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
172 Replies, 166,873 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
204 Replies, 236,310 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,278 Replies, 3,444,651 Views
ITE (lecturer) ( 1 2 3... Last Page)
259 Replies, 300,739 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,667 Replies, 1,413,072 Views
ST Electronics ( 1 2 3... Last Page)
3,246 Replies, 1,061,404 Views
AISG (AI Singapore)
0 Replies, 106 Views
BCA (Building and Construction...
0 Replies, 115 Views
Uniqlo
0 Replies, 101 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:17 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2