Java and investement banking

**marcosscriven** · 25 April 2007, 15:44

Yes - I am

Have worked for JPMorgan, UBS, Deutsche Bank, and ABN Amro

1) Environment has always been challenging and intesting. You don't have to be particularly intersested in finance, just solving IT problems.

2) I think perhaps a little higher, but not greatly.

3) Difficult to say. A bank will pay 500-700 precisely because it wants to attract the best. Having said that, there may be one or two managers that would be happy for the cost saving.

Marcos

Originally posted by sunnysan

Just been looking at jobserve

It appears that for an investment banking contract in London with senior java skills you are alooking at 550/650 per day.

Coupled with that the search (java) and london for the last working day yields about 240 hits.

Anybody working as a java developer in and investment bank in London?

1) How is the enviroment?
2) The rates are higher in the banks. Does that mean the standard is much higher than other industries?
3) Would I be correct in assumeing that if these are the rates on offer in jobserve, that it would be easy enough to get a contract for £450 per day?

**Bovvered** · 25 April 2007, 17:42

I work for a large in investment bank, admittedly in C# but it's much-of-a-muchness. They pay top rates for top contractors, but a few muppets do manage to sneak in. The closer you are to the front office the more business knowledge you'll require but the more exciting and financially rewarding the role. There's no way anyone without business knowledge would get straight into the front office, but it's possible to get a back/middle office job and work your way in.

**Cowboy Bob** · 25 April 2007, 18:19

I don't work in IB myself. Probably could, but I'm just not interested. The people I know who have worked in IB tell tales of 14 hour days, strict dress codes, tw@ts in suits that shout at you because they're on a power trip, and horrendous micromanagement amongst other things. Sounds like hell to me - and the exact environment that I set out to avoid by going contracting.

Me, I'm on a nice fat £450 a day, outside London, no stress, no dress codes, no micromanagement, and 7.5 hours a day tops. That's more like it as far as I'm concerned.

**SoupDragon** · 25 April 2007, 18:19

The agents will not let your CV through unless you already have banking experience in most cases. I got put forward for one out of about 20 applications I made - a low rate doing JSPs. If I get it, I'll take it.

**Moscow Mule** · 26 April 2007, 06:44

Banks tend to pay more because the need a better class of worker.

If you **** up as some guys I know have f@cked up your $5M indemnity won't cover the losses...

They also tend to pay more because they have loads of money.

**ChimpMaster** · 26 April 2007, 07:46

Note also that if you go in at a lower rate thinking that you'll be looked at favourably, think again - your low rate might in fact come across as "he's cheap, he's probably no good".

Like the guy before me said, they've got the money, they want the best.

I would however, learn how to spell before trying to aim for the big guns. Especially "Investement".

**sunnysan** · 26 April 2007, 08:44

Spelling

I think its more learning to type properly at speed.

But you do have a point. Learning to spell "investment" may be a good idea.

Java and investement banking