[feedcomnet]

Yet more evidence we need to eliminate bonuses in the financial sector

[texbrease]

We can compare car salesmen/realtors/waitresses with some other portions of the population.

JM

[Aniplinipsync]

It doesn't actually say what they were paid.

But there are four tiers to finserv IT with massively different salaries:

"Support Engineers" are the bottom rung, they don't get paid much at all
"Contractors" get paid decently well
"Full timers" get six-figures or higher, at the least
"Senior Full Timers" are guys who get a LOT of money, as they've built up a very good understanding of both the business and the technology over the years. At certain points they become invaluable because you cannot run the systems without their help, and their salary/bonuses indicate that

[RastusuadegeFrimoum]

What does the profitability of the bank have to do with anything? The question is how replaceable you are, not how much money the bank as a whole makes.

[interbaoui]

We can compare car salesmen/realtors/waitresses with some other portions of the population.

JM

Yes, waitresses and salesmen are extremely hard-working.

[Starichok]

What does the profitability of the bank have to do with anything? The question is how replaceable you are, not how much money the bank as a whole makes.

Your thinking will change as soon as you begin to think that your pay raise is overdue

[Wavgbtif]

Here is how the hierarchy is here in Croatia:

- average Joe-printer-cartrige-changer is the lowest
- developers who do the programming for the bank's various systems are also not paid well which I find ridiculous given how hard programming can be, but these guys simply don't value themselves enough. The management can't distinguish a programmer from a "programmer" so they're stuck with mediocre talent
- database guys (this is what I do at the moment) are moderately paid, but get the opportunity to learn something about banking, if they are so inclined
- system administrators are well paid, servers go down often enough to remind management that these people are important
- outside consultants: paid their weight in gold, more often than not useless for the first six months of the contract

It depends on the product they work on as well. I worked on the team that managed Lehman Brother's central trading system that flowed all of their equities and fixed-income trades. The guys who worked full-time on that made a ton of money, several owned two homes (and the manager had a place in Manhattan and another in the Hamptons). They paid the consultant companies way above the going rate for software consulting as well.

But if you work for a smaller, less important system I'd imagine that's reflected in the compensation.

[pXss8cyx]

Yeah, I misunderstood the article while skimming it.