What The Finance Industry Has To Offer Software Developers
By Rick Delgado, contributing writer
Software developers face a tough decision when choosing a career path. With technology growing in influence, developers’ services are needed now more than ever, meaning a large number of industries are on the hunt for the right people to fill crucial roles within companies. There’s always the lure of exploring new territory with a startup in the tech world, and more industries like retail and security are finding ways to incorporate analytical solutions within their usual processes.
There will always be a place for software developers as Big Data, mobile applications, and cloud services grow, but some of the most rewarding jobs may be found in a place software experts may not think of at first — the finance industry. While not always the obvious choice, financial industry companies have a lot to offer the intrepid software developer willing to take a chance and use their skills to achieve more success for their respective organizations.
One of the first questions software developers seeking a new career ask relates to compensation, and software developers are actually treated pretty well in the financial world. Average salaries are generally higher than in other industries, and many financial institutions and firms give out annual bonuses. While these bonuses do depend on company performance throughout the year, if the company has done well, they can be quite substantial. An encouraging sign for software developer pay is many IT salaries were generally unaffected by the recent recession. Financial companies continued to pay their IT staff well and, even in cases where pay increases didn’t occur, at the least pay didn’t decrease. It isn’t uncommon to see IT professionals paid in six figures.
Fortunately, the financial industry seems to value the work software developers do for their companies. This isn’t the case with every industry, so to see if in the financial sector is refreshing. Part of the reason financial industry executives value software developers is they play a key role in creating solutions to many problems in the rapidly-evolving market. Software developers are at the front lines of discovering technological solutions to help businesses run more efficiently. They’re problem solvers at heart, and by working in the financial industry, they’ll be able to flex those muscles at every turn.
One other perk the financial industry can offer aspiring software developers is a feeling of being a pioneer in a field affecting so many lives. They can try out new technological solutions and figure out strategies that may be applied in other industries to great effect.
Software developers can also know they will face new challenges every day in the financial industry while other industries can often become incredibly boring, having to do the same tasks over and over. That’s mainly due to one area where financial institutions need a lot of help: cyber-security. Hackers have grown in number and sophistication and financial firms need to hire the best and brightest to counter these attacks. Since cyber-attack strategies are constantly evolving, there will always be a place for talented software developers to apply their skills and use the latest technology from all flash arrays to machine learning algorithms to defend sensitive information and protect customer data.
Choosing a career in the financial industry may not sound appealing to software developers at first, but when considering the compensation, developing technology, and crucial role they play in overcoming challenges, it quickly becomes apparent the industry has a lot to offer.