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i need ur opinion guys ... esp those IT ppl & banking professionals

hi PEXers! i need your advice... is it adviseable or ok to work in a bank if you're an IT professional. I mean, I wanna know what are the benefits of working in a bank as well as it's disadvantages. I wanna know what's in store for me if I would be working in a bank...what are the opportunities ahead of me. thanks! =)

Comments

  • mac_bolan00mac_bolan00 PEx Veteran ⭐⭐
    I work in a small, Filipino-owned bank and I see the usual problems faced by professionals who are not in the mainstream of the business they are in. The IT department in my bank is basically involved in branch communication, ATM operations and general system maintenance. Specialized software for various applications are generally out-sourced. In short, i don't see that great a flowering of IT in a bank as small as mine.

    In the really big banks, the situation hardly improves. Head office-branch communication becomes more critical so IT's support function is specially beefed up. Application software may be proprietary but, from what I hear, these are still out-sourced. In short, don't bet on a career as a software developer if you want to work in a bank. I you're bent on working in a bank, look forward to a career as a banker. A lot of our lending officers finished computer science.
  • In my line of work, I usually get to talk to a lot of IT people from different banks. One thing they tell me, the attrition rate for IT professionals is very high for banks, especially for programmers. However, most IT people who do work in banks just tend to move from one company to another. It is a good launchpad for a career somewhere else though. One good measurement is to see where all the ex-Citytrust IT people went. Most of them own high positions in other banks. One is even the current CIO of Globe Telecom.
  • KuyaDannyKuyaDanny Moderator PEx Moderator
    Hi, Rorschach. Long time no hear :)

    I would think that IT experience in a banking environment will help make you a better banker. I don't know if it will necessarily make you a better IT person, though.

    One good thing about IT in banking is that there will always be work that needs to be done. Whether it's the kind of IT work you really want to do is another point entirely. IT guys are important in banking, and banks can't seem to get enough of them. In these days of mergers and downsizing, the IT guys are almost always the first to be hired, and the last to be let go.

  • thanks guys for your responses... nevertheless, i have another question... being an IT professional, do you think working in a bank than in an IT/web-based company will give me more edge in working abroad? which of them would give me a better career break?
  • I used to work in Asia Online Phils., we had a project in SMART wherein you can pay your bills or purchase air time with your prepaid phone thru the net via credit card. This has been the subject of e-commerce. It is the most viable IT field now, I am now in Denver, Colorado because they heard that I was able to interface banking with IT thru the net. I am working here full time. So I suggest that you go ecommerce, there's no other way to go.
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