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I worked in two big banks. It is not easy. Many regulations and existing legacy systems result in systems build around FTP and flat files. Bussiness side also
by Chyzwar 8y ago
I worked in two big banks.
It is not easy. Many regulations and existing legacy systems result in systems build around FTP and flat files. Bussiness side also does not have a clue, sometimes it is very difficult to tell why someone made a decision 10 years ago since nothing is documented.
The only hope is to replace systems one by one and make gradual migrations. Problem with this approach is that you need to add new interfaces to existing legacy systems and add some crazy stuff to the new system.
Above would be possible if you can hire top talent and retain it for many years. With current IT market, it is not possible. Even google and facebook that pay way above market struggle to retain people for more than two years. Additionally, business domain is boring and technology is outdated.
- jstanley 8y ago> Even google and facebook that pay way above market struggle to retain people for more than two years Perhaps they're not paying "way above market" then. If buyers paying "way above market" struggle to attract sellers, it means the buyers are wrong about what the market price is.
- user5994461 8y agoPeople find a partner, have children, move to follow their partners or move back to take care of their parents. Projects are completed, roles shift, company changes. A higher salary doesn't have any effect on any of the above.
- Chyzwar 8y agohttp://uk.businessinsider.com/employee-retention-rate-top-tech-companies-2017-8 http://uk.businessinsider.com/comparably-50-best-paying-big-companies-salary-employees-2017-11 Talented people want to make an impact. Working for google building proto-to-proto services is opposite of making an impact. On average your work will have very little spotlight but you will make lots of money for the company.
- Finnucane 8y agoIf you were a jazz musician in the 1920s, the best-paying stable job you could get was in Paul Whiteman's band. So Whiteman was able to attract some of the best players of his day (well, the best white players of his day, anyway). But the work frequently meant playing boring arrangements for upper-class toffs. There was a fair bit of turnover in the staff despite the good pay. Some of his players just drank themselves into an early grave.
- devonkim 8y agoAttracting is one thing, retention is another. Pay isn’t the reason people leave from FANGS oftentimes, but pay is oftentimes the reason people move to FANGS.