what's different about working in finance?

[NoddY]

The difference is when you work for the moneylenders you manage to contribute neither to society nor civilisation concurrently. Not many jobs can claim that accolade.

[BrilloPad]

i'm a developer and so far all of my contracts (and perm roles) have been in the London-based media / new media / creative / nathan barley industries. i often wonder what it's like working for the financials. basically these are my ill-informed preconceptions - are any of them correct?

- the rates are about 1.5 to 2 X higher than in other industries
- the hours are punishing and you're basically doomed if you want to regularly go home "on time"
- the technology is archaic
- you'll have to wear a suit
- potentially lethal levels of petty bureaucracy
- you'll have to enjoy being pushed around by the kind of testosterone-crazed Gordon Gecko ******* who are alleged to work in such places
- you can't get contracts working for financials unless you've got previous financial experience (how you get the first contract is a mystery)

how accurate is this? i doubt i'll ever end up working in this sector as i don't have the experience or stamina but i'm interested in hearing about it.

And another thing - we have socialists. If you dont love Maggie, you're toast.

[Moscow Mule]

The difference is when you work for the moneylenders you manage to contribute neither to society nor civilisation concurrently. Not many jobs can claim that accolade.

Surely, by the payment of more taxes you're helping to bolster society?

[realityhack]

I've been in finance for the last 4 years:

- the rates are about 1.5 to 2 X higher than in other industries
Yes - You get what you fight for, get in the door and push recklessly for your rate - the more finance exp you have, the more you can push. Go in high for IBs or you won't be taken seriously.

- the hours are punishing and you're basically doomed if you want to regularly go home "on time"
Not so - I can get away with 7.5 hrs a day if I want - if the culture seems more brazen, take an hourly rate, not a daily one.

- the technology is archaic
Yes and no - the crucial systems are top notch - the MI/web support systems are in the stone age... but not for long.

- you'll have to wear a suit
Yes and no - front office, yes, back office developer land, no.

- potentially lethal levels of petty bureaucracy
Abso-bloody-lutely.

- you'll have to enjoy being pushed around by the kind of testosterone-crazed Gordon Gecko ******* who are alleged to work in such places
Only in the head office.

- you can't get contracts working for financials unless you've got previous financial experience (how you get the first contract is a mystery)
It's not easy to break into because of this - but cite the right tech skills for a role and have previous FTSE100/blue chip exp and you'll get in.

[roadster198]

i'm a developer and so far all of my contracts (and perm roles) have been in the London-based media / new media / creative / nathan barley industries. i often wonder what it's like working for the financials. basically these are my ill-informed preconceptions - are any of them correct?

- the rates are about 1.5 to 2 X higher than in other industries
- the hours are punishing and you're basically doomed if you want to regularly go home "on time"
- the technology is archaic
- you'll have to wear a suit
- potentially lethal levels of petty bureaucracy
- you'll have to enjoy being pushed around by the kind of testosterone-crazed Gordon Gecko ******* who are alleged to work in such places
- you can't get contracts working for financials unless you've got previous financial experience (how you get the first contract is a mystery)

how accurate is this? i doubt i'll ever end up working in this sector as i don't have the experience or stamina but i'm interested in hearing about it.

Try actually just getting a job in London if your north of Watford matey

[Dow Jones]

Finance contractors

Reason most require 'financial experience' is that a lot of front/middle/back office systems are similar between banks and insurance companies, also anyone that has worked in such environments is more or less capable of meeting deadlines and know the financial impact of not doing so, can be shouted at without bursting into tears and walking out, can put his/her point of view without blushing and stuttering and generally have a rare thing called personality as opposed to a non-existent one by most IT geeks.

[realityhack]

can be shouted at without bursting into tears and walking out, can put his/her point of view without blushing and stuttering and generally have a rare thingn called personality as opposed to a non-existent one by most IT geeks.

WHS

EDIT: If you work in financial markets or on the trading floor - this is especially true.

Also - you have to have a thick skin - be prepared to be transported back in time about 50 years in terms of office culture. Think 'playground politics' and sexist rubbish. Stay well clear of such numpties, they're slowly being culled off.

[DimPrawn]

From what I am gathering here...

If it were a Hollywood film:

Finance contractors are Chuck Norris and non-finance contractors are Mr Bean.

[BlasterBates]

...if the predictions are to be believed, 140,000 job losses in the City, then I would add, to the list of impressive "manly" traits, "prepared for long periods of bench time".

The question is being "Mr Bean" so bad.

[Dow Jones]

BB 'predictions'

BB what happened to you mate? You used to write interesting posts. Trying to fill in our 'missing economist' position?
City market has grown by an average of 20000 jobs every year to nearly 400000 atm, last I heard they were talking about 20000 losses, still at worst no growth. Stop being such a gloomy sod and cheer up a bit.