Career Choice: IT audit or Bank IT?

[dilemmaguy]

Hi guys, I am currently in one of the big 4 audit firms doing IT audit, having graduated with an IT degree from one of the local universities this year. Just wanna find out if its worth it to carry on in this industry or to switch over to banks to do IT? I have only worked for 3 to 4 months and I am worried that IT audit will make it hard for me to switch to other IT jobs if ever I wish to do so since its not so much of IT IT but audit, if you know what I meant. Also, the monetary compensation in banks are way better than in audit. Just wanted to get some opinions on the pros and cons of switching or staying, many thanks!

Originally Posted by dilemmaguy

Hi guys, I am currently in one of the big 4 audit firms doing IT audit, having graduated with an IT degree from one of the local universities this year. Just wanna find out if its worth it to carry on in this industry or to switch over to banks to do IT? I have only worked for 3 to 4 months and I am worried that IT audit will make it hard for me to switch to other IT jobs if ever I wish to do so since its not so much of IT IT but audit, if you know what I meant. Also, the monetary compensation in banks are way better than in audit. Just wanted to get some opinions on the pros and cons of switching or staying, many thanks!

Bank IT. No doubts about it.

[dilemmaguy]

Originally Posted by Unregistered

Bank IT. No doubts about it.

Hmm how come?

Originally Posted by dilemmaguy

Also, the monetary compensation in banks are way better than in audit. !

My friend in big 4 audit gets $600 - $1000 increments every year.. My bank increments only 3-5%....

[dilemmaguy]

Originally Posted by Unregistered

My friend in big 4 audit gets $600 - $1000 increments every year.. My bank increments only 3-5%....

Bank IT starts at 5k though... big 4 starts at 2.7k

I don't know much about IT Audit but I work in a bank's IT department.

My bank(foreign bank) starts fresh grads in IT at 5k+ and we get 5-8% increment a year. I believe IT Audit has a lower starting pay(similar to regular auditors).

Bank IT has a relatively high starting pay but bonus is medicore. I get 1-1.5 month a year.

Hiring in Bank IT is very limited in Singapore now. Most new positions in Bank IT are in India.

[dilemmaguy]

Originally Posted by Unregistered

I don't know much about IT Audit but I work in a bank's IT department.

My bank(foreign bank) starts fresh grads in IT at 5k+ and we get 5-8% increment a year. I believe IT Audit has a lower starting pay(similar to regular auditors).

Bank IT has a relatively high starting pay but bonus is medicore. I get 1-1.5 month a year.

Hiring in Bank IT is very limited in Singapore now. Most new positions in Bank IT are in India.

I think what you said is true.From what I know, IT in banks especially,is being heavily outsourced to other countries due to their cheaper costs and being a viewed as a cost center...

May I know what your job scope entails? Do you enjoy your work?

bank IT alot of ah nehs. some people are quite nice but when interacting, its always either i ask them to repeat or they give me the blur look when i talk (machiam im speaking french).

Originally Posted by dilemmaguy

I think what you said is true.From what I know, IT in banks especially,is being heavily outsourced to other countries due to their cheaper costs and being a viewed as a cost center...

May I know what your job scope entails? Do you enjoy your work?

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.

[dilemmaguy]

Hmm does bank employ ppl with it audit experience? Maybe I will transfer to banks after a few years....is it worth it?