Wall Street is now also offering pay rises to technologists
For financial techies considering a hop over the pond, the good news is that pay is on the up on Wall Street (much as it is in the UK). However, bonus potential looks slightly miserly.
InformationWeek Analytics has just released its <a href=" https://www.wallstreetandtech.com/career-management/showArticle.jhtml;jsessionid=4UZGLEMBMOYAPQE1GHPCKH4ATMY32JVN?articleID=225300189" target="_blank"2010 IT salary survey in conjunction with Wall Street & Technology, which took in the responses of over 2000 banking and securities IT professionals.
The good news is that financial services firms are willing to stump up for talent again, with pay rises of between 5-10% on 2009 levels typically being offered.
"We had companies recruiting in 2009 that thought they'd be able to secure a relative bargain," Shawn Banerji, an executive recruiter with Russell Reynolds Associates in New York told the magazine. "But for the people who have been continually working on Wall Street, you can't get them at Syms or Men's Warehouse prices - you still have to pay full-ticket Madison Avenue for these folks."
Bonuses have never been particularly generous for techies working in the City - usually coming in at an average of 30% of salary - but this looks generous compared to Wall Street.
At the low end, IT managers secured bonuses of 6% of salary, increasing to 14% for chief technology officers and 18% for CIOs. Systems analysts secured a median bonus of $10k on their $83k salary - one of the most lucrative roles when it comes to variable compensation.
Below is a breakdown of Wall Street IT salaries by job title:
