Microsoft vs Financial Institutions

Mar 15 14 Comments

I’ll be moving careers soon and was wondering what the consensus is on pay for Microsoft vs Financial Institutions for a SWE? In Charlotte and don’t really want to move just yet, will probably save that for my first career hop as a SWE. Do banks usually compensate as well as Microsoft? What about WLB?

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TOP 14 Comments
  • I’m also in Charlotte. DO NOT move from Microsoft or any top tech companies to any banks!
    Mar 15 2
  • Don’t move from Microsoft to a bank. You’d be going from a core revenue generating employee to glorified IT support. Tech is a cost center at banks. If you want to leave Microsoft, go to Google, Meta, or similar.
    Mar 15 2
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      Only time I have seen MSFT engineers move to banks if the bank was GS or some strats role. Other times I have seen if they got a senior management position.
      But pretty much everyone I know is a dev is trying to go from bank to tech company not the other way aroudn lol
      Mar 15
    • Wells Fargo / Eng
      PcJq33

      Go to company page Wells Fargo Eng

      PcJq33
      Hey it’s me, everyone you know. Currently interviewing to switch from a bank to Microsoft.
      Mar 18
  • Investment Bank
    Glinda

    Investment Bank

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    Glinda
    It's not even close - my partner worked for 15 years at Microsoft and always out earned me in base compensation, bonus and benefits (and I don't get RSUs or options).
    Mar 15 2
    • OP
      Wow, alright. Figured since out of FAANG/equivalent everyone shits on Microsoft for pay that banks might be about the same. I’ll definitely stick to in-house or remote FAANG for SWE apps then!
      Mar 15
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      Banks don't pay the same for most SDE roles. I mean maybe there is someone at GS making more but these folks are rare.

      If you end up on a non revenue generating team, raises will be non existent. Tech is 100 percent seen as a cost center.
      Mar 15
  • Came from a bank to MS. MS paid about 60% more in the same Geo If you do move to a bank then do so for a big title/leadership position. Otherwise as a dev it's a lot of red tape and BS. Many of your peers will mediocre and yoy most likely have tech leaders who have no idea what they are doing. Additionally other tech companies do not look as favorably at fintech experience. So MS to bank would be going backwards.

    WLB was great, but to me it was not worth putting up with the red tap, BS and low pay.
    Mar 15 1
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      It does depend on team but the median MS dev is probably better than at a bank. Also, I don't think anyone puts banks in the fintech category lol. Just see them as banks.
      I think its hard to grow at most back office teams for sure.
      Mar 15
  • I’m in Charlotte & leaving MSFT to come to a bank is a bad idea
    Mar 28 0