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Hope 2015 has gone very well for you and that you’re enjoying a great holiday season!
Here’s a brief update on the Hiring Market in Technology for Q4 2015:
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Market's general performance:
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Interesting market info:
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Finance Technology experienced an year-end slowdown in hiring
: Given it’s bonus time and the fact that headcounts are coming under strict reviews because of uncertainty in the economy plus earnings drops,
approval for hires has been slow, especially with banks. The number of candidates looking for jobs has also gone down since they prefer to wait for
bonuses which are usually paid out in Q1 of the New Year. This is typical of this quarter.
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Roles that were in demand:
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Roles in the Risk space (Regulatory Risk / Security Risk / Tech Risk) continued to be in demand despite the hiring freeze because of their
importance to the business
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Junior-to-mid-level roles in the Java/J2EE space and junior-to-mid-level roles in the Infrastructure space have been active among
Commercial Banks and Insurance firms
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While it is understandably difficult to predict which way the market is going to go but judging by the preliminary interest we have
received from our clients, here’s our outlook for 2016.
Rise in Contracting / Secondment roles:
We expect a sizable increase in the number of contractors that banks will hire in 2016
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Increased hiring in the innovation space within Finance Technology:
Banks feel more threatened by the rise of Finance Technology startups especially in the payments / mobile applications area. We think that
commercial banks will recruit more candidates in the mobile / payments area and will invest more in innovation. Technologies such as HTML5, Mobile
Applications Development will be of interest
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Certain Investment Banks will hire:
While there are certain banks (primarily European) that are likely to make only replacement hires, some of the American ones will likely expand and
hire in the Electronic Trading space. We also expect the Chinese Banks to be very active in hiring
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Insurance will do well:
The insurance sector has done quite well in 2015 and we see that trend continuing into 2016. A lot of the major insurance firms
are looking to streamline processes and embarking on large scale transformation projects
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Technologies that are expected to be in demand:
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Development languages:
Java 8 (for back end development), C# (especially since it can run on Unix now with the latest .NET runtime versions), C++ (Exchange Connectivity /
low latency development). J2EE will continue to be in demand for internet banking and related applications
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Newer technologies
such as HTML5 and also mobile development languages will be in demand
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IT Security
especially in the areas of Cyber threat security, Ethical Hacking and related technologies
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Cloud technologies
including Public Cloud / Private Cloud related infrastructure technologies on the PaaS / IaaS side (design/build/architecture)
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Big Data / Machine Learning:
Many of our clients have expressed interest in seeing strong quants who have had good experience in big data and machine learning concepts
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Compliance / Regulatory knowledge
: The importance of knowledge in this area has been growing since the markets have been becoming more and more regulated. We expect more hires in
this area and also in the Anti Money Laundering area
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Hope you found this information useful.
Please do contact us should you need more information.
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If you are thinking about a change, check
out our latest
hot jobs!
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Vince Natteri,
Managing
Director
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