Wall Street IT Losing Pros to Startups, Consultants

Exit SignWall Street IT jobs don’t hold the allure that they once did for smart technologists. Though the pay can be great, the pressure and lifestyle can be killing, with long hours, tight deadlines and high stakes the norm. Now, with more opportunities appearing in other industries and business pressures making their positions less secure, many of the Street’s tech professionals are looking for better opportunities elsewhere, according to Wall Street & Technology.

Which is more important — big money or a sane lifestyle? Let us know what you think in the comments below.

On the flip side, the departure of all this talent is a positive thing for job seekers. As in other industries, financial companies are challenged to find good tech people to fill open positions. “There will be a void of technical talent and domain knowledge at many of these companies if people with 15-plus years of experience leave,” one source told WS&T.

Who’s Looking for Wall Street Veterans

Consulting firms and startups have their sites set on financial tech professionals, and for good reasons: They’ve worked on complex projects and can deliver under pressure. Many have decided working on a young company’s bleeding edge technology is worth the financial risk. For others it’s simply a question of making a fair salary — though not as big a one — in return for shorter workdays.

People who’ve made the move say Wall Street experience translates well to other businesses. Knowledge of trading system technology, messaging, high-volume data environments, complex processing and visualization are among the skills companies find most attractive.