Career Choice: IT audit or Bank IT?

normally bank IT is contract job and payroll not directly with the bank?

bank IT has both contract as well as on-the-payroll roles. Generally contract positions are junior level roles that require more technical expertise, while the on-the-payroll positions require more domain knowledge and management skills.

which pays more at banks? IT or Operations. Generally I hear that operations are poorly paid, but its usually compared vs the front-office. how about IT? how does the pay compare to operations for a role at the same level, eg: VP

[davidhaylor]

IT Audit is good career choice. As you will get lots of benefits like reduce risks, Strengthen controls, Comply with regulations, Improve IT Governance. According to me IT Audit is best and I would suggest you go for IT Audit.

IT audit demands a combination of IT and auditing skillsets. Good career prospects in audit.

Originally Posted by Unregistered

which pays more at banks? IT or Operations. Generally I hear that operations are poorly paid, but its usually compared vs the front-office. how about IT? how does the pay compare to operations for a role at the same level, eg: VP

nowadays bank IT like to outsource their operations. Starting pay at banks in IT is higher, but going long term say 5 years, operations in bank have good career progression. i.e can go as high as management level. IT in banks will always be a cost factor.

Originally Posted by Unregistered

Bank IT tends to have very old-fashioned technologies. Definitely not cutting edge.

I used to work for a cutting edge start up but they couldn't pay me much. So I took a job in a bank working on brainless IT work but the pay is much better.

Used to make 50k as a software engineer at a tech startup. Now, I am doing production support at a bank and making 100k.

Bank IT old-fashioned... false to a certain extent.

Production support pays well. Good choice.

[esze001]

if money, IT in bank

how much should a local fresh grad with good honours be asking for a role like IT support specialist? Foreign bank.

both are good. but honestly, as a PP has mentioned, IT audit gives you skills such as risk & control assessment & remediation, regulatory / compliance exposure.

my personal view is that if you want to go overseas, IT audit is much easier to get you on that ticket - you can imagine they will need audit talent in Aust / US / UK / Canada. all the big corporate HQs are always located in those countries.

Bank IT - dude, you are in Asia. The big US / European banks see you as cost centre. if all they need is to move cost centre from A (Singapore) to B (Philippines / India), that is what will happen. Also, bank technology is abit backwards due to past few years of under-investment. you need to have legacy support skills or always have to develop your front-line coding skills if you want to be in cutting-edge.

either way, no preference for either, but I was an IT auditor and I now live (or rather, have settled) in London