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Bank IT departments are filled with stats, Econ and financial math majors who couldn’t get front office jobs after school. They’re great for creating software
by mathattack 5y ago
Bank IT departments are filled with stats, Econ and financial math majors who couldn’t get front office jobs after school. They’re great for creating software that prices derivatives, but awful for reliability, security and all things engineering. Meanwhile, the decision makers just use Excel for all the important things. Things blow up all the time, it’s just that it rarely gets public. For whatever reason $200mm in wasted IT doesn’t generate the headlines like a $200mm trading mistake.
- elzbardico 5y agoElitist prejudice without any empirical basis. On the contrary, at least on my corner of the world, banks are the ones who completely abhor hiring someone who doesn’t have a 5 year degree in computer science. You could have a thousand stars project in GitHub, come from FAANG and most bank HRs would trow your resume at the trash bin if they don’t see CS.