Technology pros in banking and securities continue to see their salaries rise, but workers are looking for training, flexibility, and job security as well.
As the economy continues to improve, so does the salary picture for the financial services industry. According to the InformationWeek 2014 US IT Salary Survey: Banking and Securities, more than two-thirds of IT pros in banking and securities firms received a raise in the past year. While the pay hike is important, other benefits matter to this group as well. Overall, this year's research indicates that a majority of IT staff and managers are satisfied with their compensation and all aspects of their employment relationship.
Survey respondents include 603 staff-level employees and 651 managers from a variety of banking and securities organizations. Participants are about equally split between large and small firms, with 51% of respondents working for banking and securities organizations with fewer than 5,000 employees. A third of survey participants (33%) work for organizations with more than 20,000 employees.
2014 Banking And Securities Salary Trend
More than 70% of IT staff and managers in banking and securities firms received a raise in the past year. The median base salary for staff climbed 1.4%, to $98,000 from 2013, while the median base salary for managers has leveled off at $120,000 since last year. Total compensation, including bonuses and other direct cash payments received during the previous 12 months, rose for both groups: a 1.9% jump for staff, and a 2.6% rise for managers.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
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