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.

true, worst company ever, not sure how they get so many gov outsource jobs in the first place, now gov trying to ditch them

what are u high on? the term 'cost centre' is not a label where the bank can simply change like that lol. you clearly do not know banking well, so please just stfu.

Lol if it's such an obvious take, then why are people throwing shade and making blanket statements about banking tech?

Err...it's a mindset shift. It doesn't happen overnight. There's a lot of attrition going on in banking tech because of opportunities elsewhere, and yet banks are announcing goals of adding net increases in their tech workforce by the thousands. If this is the official policy, do you think nothing is changing?

If your salary isn't going up, don't blame anyone else.

You wrote,

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.

This is an obvious take that adds nothing to your initial argument about how bank treats tech like a cost center. To me it just seems like you don't really know what you're talking about and wanted to add something obvious at the end of your statement to give yourself more credibility.

If you're actually serious, maybe make an account and provide some valid counter-arguments. Otherwise I'll just assume you're trolling and you're not even a SWE / SDE.

No offence, I am just genuinely curious about your initial claim and want to know more. I frequent TeamBlind and CSCareerquestion often, I've heard of the opposite of what you're claiming so far from actual tech employees working in bank so I'm wondering if this is a regional thing.

whether a department is a cost centre or not, it depends on whether the team generates revenue. so how exactly can tech be revenue generating dumbshit

i have to agree with others on here, i legit dont know what the fk you talkin about , just cos u saw a few FAANG people in ur company bank or wherever the fk u work at , how does that mean banks are NOT treating tech as a cost center ? LOL

banks mass hiring fresh grads doesnt mean anything bro theyve been doing that for the past 5 years , u look at SEED , UOB , OCBC programmes etc , they mass hire a pool of tech people where 80% of them are trash and the 20% who actually wants to get into fintech , end up leaving after 1-2 years in the programme anyway

I think he's referring to bulge bracket banks, not the likes of SEED etc. DBS etc probably don't deal with trading applications as much as bulge bracket banks do. You think the fresh grads getting paid 7-8k starting salary as SWE in bank tech is trash? LMFAO.

Imagine bumping a old thread to reply to some retard going off-topic in it and trying to defend said person.

Cringe