Layoffs in finance
Thinking about joining a finance company as a tech analyst, but there have been rumors about layoffs at the company I'm being considered for. How are tech employees impacted at finance firms? Are tech people the first to go? How are they treated during layoffs compared to finance people?
Are you working someplace where you job is part of the company’s strategy? Or is your job overhead?
How big is the company? If a decent size and you are good, you shouldn’t fear layoffs.
Is it retail or IB? If you’re going to be doing dev work in their applications could be a good stepping stone to fintech
What company. If it's a top 5 bank I wouldn't worry
Lol. Tech analysts don't get laid off.. They replace the more expensive people that got laid off.
I work in IT in finance company for over 10 years. Layoffs in IT are as common here as dirt. However, if you very technical, you could pick few more skills for your resume, just don't get sucked into other roles, those usually get chopped first
Not relevant question here but is your TC comparable to those in tech?
Hmm... depends on so many things... It used to be true in the past, but now it's hard to say
I'm working in finance. Your impact is minimal. Not sure about layoff because it hasn't happened, but they still need us in a way.
which company?
Of course it varies from company to company, but in my experience contrary to some tech companies, I haven’t seen mass lay-offs in finance firms. And I have seen actually people on the business side getting laid off more often than engineers.
Idk about finance specifically but I wouldn’t recommend going to work in an IT department for non-IT/software company
Can confirm
Can confirm