Compensation Growth in Finance vs. Technology
Compensation is always being something highly emphasized about financial services industry and probably one of its main attractions but I never realized that the pay in tech and IT was so comparable and better on the entry level.
So I think some of the younger readers here shouldn't be too tunnel visioned about finance like I was in a way and really explore other options because compensation wise they might be just as good.
Comparing Wages Between Finance and Technology
A frequent discussion on Wall Street Oasis revolves around the difference between careers in tech and finance and which path offers better wages and better work life balances.
Starting wages between the two fields are largely comparable. Tech may actually edge out starting position wages on Wall Street considering that tech firms often offer stock-based compensation bonuses. However, our users point out that often times wage growth will be substantially larger for those that continue in careers on Wall Street.
Our users highlight that programmers and developers typically start out and top out between $150 - $300 K for wages.
However, in finance roles, particularly on the buyside, workers will likely surpass these levels once you are in the industry for a while.
Read more about Wall Street compensation with the Wall Street Oasis Investment Banking Industry report which offers details about salary and bonus figures all across the experience spectrum. Check out the 2018 Investment Banking Industry Report here.
You can find out more about the talent war between Silicon Valley and Wall Street in the video below.
Read More About Tech vs. Wall Street on WSO
- Silicon Valley vs. Wall Street: Working at Google vs. Goldman Sachs
- VC Analyst vs. Growth Equity vs. Consulting vs. IB
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